Eaton Corporation, PLC (NYSE:ETN) Shares Purchased by FAS Wealth Partners Inc.

FAS Wealth Partners Inc. lifted its holdings in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 6.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,926 shares of the industrial products company's stock after buying an additional 751 shares during the period. FAS Wealth Partners Inc.'s holdings in Eaton were worth $3,514,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Capital A Wealth Management LLC acquired a new stake in shares of Eaton in the fourth quarter valued at about $26,000. Creative Financial Designs Inc. ADV boosted its holdings in Eaton by 102.0% during the first quarter. Creative Financial Designs Inc. ADV now owns 101 shares of the industrial products company's stock valued at $27,000 after purchasing an additional 51 shares in the last quarter. Murphy & Mullick Capital Management Corp bought a new position in shares of Eaton in the fourth quarter valued at approximately $33,000. Vermillion Wealth Management Inc. bought a new position in shares of Eaton in the fourth quarter valued at approximately $33,000. Finally, Abound Wealth Management raised its position in Eaton by 73.8% in the 1st quarter. Abound Wealth Management now owns 146 shares of the industrial products company's stock worth $40,000 after purchasing an additional 62 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Insider Activity

In other news, 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 transaction of $629,364.40. Following the sale, the insider owned 3,382 shares of the company's stock, valued at $1,004,014.34. This trade represents a 38.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Craig Arnold sold 103,486 shares of Eaton stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $322.75, for a total transaction of $33,400,106.50. Following the transaction, the insider directly owned 490,208 shares in the company, valued at $158,214,632. This represents a 17.43% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 156,660 shares of company stock valued at $49,622,894. 0.30% of the stock is owned by company insiders.

Eaton Stock Down 0.5%

Shares of NYSE ETN traded down $1.83 during mid-day trading on Friday, reaching $378.89. 2,941,019 shares of the company's stock traded hands, compared to its average volume of 2,668,275. The stock has a market cap of $148.26 billion, a P/E ratio of 38.23, a PEG ratio of 2.86 and a beta of 1.17. The business has a 50-day simple moving average of $339.29 and a 200 day simple moving average of $314.69. Eaton Corporation, PLC has a 1-year low of $231.85 and a 1-year high of $384.51. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.31 and a quick ratio of 0.84.

Eaton (NYSE:ETN - Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The industrial products company reported $2.72 EPS for the quarter, topping the consensus estimate of $2.70 by $0.02. The business had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.26 billion. Eaton had a net margin of 15.55% and a return on equity of 23.41%. The company's revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.40 earnings per share. On average, analysts expect that Eaton Corporation, PLC will post 12.02 EPS for the current fiscal year.

Eaton Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were paid a $1.04 dividend. The ex-dividend date of this dividend was Monday, May 5th. This represents a $4.16 annualized dividend and a dividend yield of 1.10%. Eaton's payout ratio is 41.98%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ETN. Evercore ISI upped their target price on shares of Eaton from $326.00 to $349.00 and gave the company an "in-line" rating in a research report on Monday, May 19th. Morgan Stanley cut their price target on shares of Eaton from $385.00 to $375.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. KeyCorp boosted their price target on shares of Eaton from $355.00 to $410.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. Barclays upped their target price on shares of Eaton from $323.00 to $340.00 and gave the company an "equal weight" rating in a report on Wednesday, July 9th. Finally, Wall Street Zen raised shares of Eaton from a "hold" rating to a "buy" rating in a report on Saturday, July 5th. Six investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, Eaton has an average rating of "Moderate Buy" and an average target price of $377.89.

Eaton Company Profile

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.