Forbes J M & Co. LLP Purchases 1,085 Shares of Eaton Corporation, PLC (NYSE:ETN)

Forbes J M & Co. LLP boosted its position in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 2.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,513 shares of the industrial products company's stock after acquiring an additional 1,085 shares during the period. Forbes J M & Co. LLP's holdings in Eaton were worth $10,741,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ETN. Checchi Capital Advisers LLC raised its position in Eaton by 0.7% in the 1st quarter. Checchi Capital Advisers LLC now owns 5,071 shares of the industrial products company's stock worth $1,378,000 after purchasing an additional 37 shares during the last quarter. Lantern Wealth Advisors LLC raised its position in Eaton by 1.0% in the 4th quarter. Lantern Wealth Advisors LLC now owns 4,038 shares of the industrial products company's stock worth $1,340,000 after purchasing an additional 38 shares during the last quarter. AGH Wealth Advisors LLC raised its position in Eaton by 2.6% in the 1st quarter. AGH Wealth Advisors LLC now owns 1,517 shares of the industrial products company's stock worth $412,000 after purchasing an additional 38 shares during the last quarter. Revolve Wealth Partners LLC raised its position in Eaton by 4.2% in the 1st quarter. Revolve Wealth Partners LLC now owns 951 shares of the industrial products company's stock worth $259,000 after purchasing an additional 38 shares during the last quarter. Finally, Tritonpoint Wealth LLC raised its position in Eaton by 3.9% in the 1st quarter. Tritonpoint Wealth LLC now owns 1,038 shares of the industrial products company's stock worth $282,000 after purchasing an additional 39 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors.

Eaton Trading Down 0.2%

Shares of ETN opened at $373.03 on Wednesday. Eaton Corporation, PLC has a twelve month low of $231.85 and a twelve month high of $384.51. The company has a market cap of $145.97 billion, a P/E ratio of 37.64, a P/E/G ratio of 2.82 and a beta of 1.17. The company has a current ratio of 1.31, a quick ratio of 0.84 and a debt-to-equity ratio of 0.41. The company's fifty day simple moving average is $339.29 and its 200-day simple moving average is $314.57.

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

Wall Street Analyst Weigh In

ETN has been the subject of several recent research reports. Morgan Stanley dropped their target price on shares of Eaton from $385.00 to $375.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. KeyCorp increased their target price on Eaton from $355.00 to $410.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. JPMorgan Chase & Co. increased their target price on Eaton from $300.00 to $360.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. BNP Paribas assumed coverage on Eaton in a report on Thursday, May 15th. They set an "outperform" rating and a $380.00 target price for the company. Finally, Wall Street Zen upgraded 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 given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $377.89.

Insider Transactions at Eaton

In related news, insider Michael Yelton sold 2,120 shares of the stock in a transaction that occurred on 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 transaction, the insider directly 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 document filed with the SEC, which is available through this hyperlink. Also, insider Craig Arnold sold 103,486 shares of the 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 completion of the transaction, the insider directly owned 490,208 shares of the company's stock, valued at $158,214,632. The trade was a 17.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 156,660 shares of company stock worth $49,622,894 over the last 90 days. Company insiders own 0.30% of the company's stock.

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.

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