Farther Finance Advisors LLC Has $2.82 Million Position in Eaton Co. plc (NYSE:ETN)

Farther Finance Advisors LLC lifted its position in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 34.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,176 shares of the industrial products company's stock after buying an additional 2,626 shares during the period. Farther Finance Advisors LLC's holdings in Eaton were worth $2,816,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Capital A Wealth Management LLC acquired a new position in shares of Eaton during the 4th quarter worth about $26,000. Flagship Wealth Advisors LLC acquired a new position in Eaton during the fourth quarter valued at approximately $27,000. Noble Wealth Management PBC bought a new position in Eaton in the fourth quarter valued at approximately $30,000. Murphy & Mullick Capital Management Corp acquired a new position in shares of Eaton during the 4th quarter worth approximately $33,000. Finally, Vermillion Wealth Management Inc. bought a new stake in shares of Eaton during the 4th quarter worth approximately $33,000. 82.97% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Eaton

In other news, insider Craig Arnold sold 103,486 shares of Eaton stock in a transaction on Monday, May 12th. The stock was sold at an average price of $322.75, for a total value of $33,400,106.50. Following the transaction, the insider now owns 490,208 shares in the company, valued at approximately $158,214,632. This trade represents a 17.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Michael Yelton sold 2,120 shares of the firm's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total value of $629,364.40. Following the completion of the sale, the insider now directly owns 3,382 shares in the company, valued at $1,004,014.34. This trade represents a 38.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 156,660 shares of company stock valued at $49,622,894 in the last ninety days. 0.30% of the stock is currently owned by company insiders.

Eaton Stock Performance

Shares of NYSE:ETN traded down $7.08 on Friday, reaching $323.26. 1,565,268 shares of the company's stock were exchanged, compared to its average volume of 2,643,441. Eaton Co. plc has a twelve month low of $231.85 and a twelve month high of $379.99. The company has a fifty day moving average of $304.79 and a 200-day moving average of $315.02. The company has a market capitalization of $126.49 billion, a price-to-earnings ratio of 34.03, a PEG ratio of 2.64 and a beta of 1.16. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46.

Eaton (NYSE:ETN - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.70 by $0.02. The business had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.26 billion. Eaton had a return on equity of 22.62% and a net margin of 15.25%. The firm's quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.40 earnings per share. On average, research analysts predict that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were paid a dividend of $1.04 per share. The ex-dividend date was Monday, May 5th. This represents a $4.16 dividend on an annualized basis and a yield of 1.29%. Eaton's payout ratio is 41.98%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ETN. Wells Fargo & Company restated an "overweight" rating and set a $355.00 target price on shares of Eaton in a report on Monday, May 5th. Royal Bank of Canada boosted their price objective on shares of Eaton from $336.00 to $356.00 and gave the stock an "outperform" rating in a research note on Monday, May 5th. Barclays raised their target price on shares of Eaton from $306.00 to $323.00 and gave the company an "equal weight" rating in a research note on Monday, June 9th. Citigroup upped their price objective on Eaton from $323.00 to $351.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Finally, Jefferies Financial Group cut their price objective on Eaton from $390.00 to $335.00 and set a "buy" rating for the company in a research report on Wednesday, March 12th. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $368.78.

About Eaton

Eaton Corporation plc operates as a power management company worldwide. The company's Electrical Americas and Electrical Global segment provides electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality and connectivity products, wiring devices, circuit protection products, utility power distribution products, power reliability equipment, and services, as well as hazardous duty electrical equipment, emergency lighting, fire detection, explosion-proof instrumentation, and structural support systems.