Fort Sheridan Advisors LLC Boosts Stake in Eaton Corporation, PLC (NYSE:ETN)

Fort Sheridan Advisors LLC lifted its holdings in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 52.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,070 shares of the industrial products company's stock after buying an additional 709 shares during the period. Fort Sheridan Advisors LLC's holdings in Eaton were worth $563,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Capital A Wealth Management LLC purchased a new stake in Eaton in the 4th quarter worth about $26,000. Flagship Wealth Advisors LLC purchased a new stake in Eaton in the 4th quarter worth about $27,000. Creative Financial Designs Inc. ADV raised its position in Eaton by 102.0% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 101 shares of the industrial products company's stock worth $27,000 after purchasing an additional 51 shares during the period. Murphy & Mullick Capital Management Corp purchased a new stake in Eaton in the 4th quarter worth about $33,000. Finally, Vermillion Wealth Management Inc. purchased a new stake in Eaton in the 4th quarter worth about $33,000. 82.97% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ETN has been the topic of a number of recent analyst reports. The Goldman Sachs Group increased their price objective on shares of Eaton from $345.00 to $382.00 and gave the stock a "buy" rating in a research report on Tuesday. Wells Fargo & Company upped their target price on shares of Eaton from $310.00 to $360.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 1st. Morgan Stanley dropped their target price on shares of Eaton from $385.00 to $375.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. Royal Bank Of Canada upped their target price 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. Finally, Wall Street Zen upgraded shares of Eaton from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. Six analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, Eaton presently has an average rating of "Moderate Buy" and an average target price of $370.63.

Insider Buying and Selling

In related news, 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 sale, the insider owned 490,208 shares of the company's stock, valued at $158,214,632. This represents a 17.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 transaction of $629,364.40. Following the sale, the insider directly owned 3,382 shares of the company's stock, valued at $1,004,014.34. The trade was a 38.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 156,660 shares of company stock valued at $49,622,894 in the last three months. 0.30% of the stock is currently owned by corporate insiders.

Eaton Stock Up 0.8%

Shares of NYSE ETN traded up $3.03 during midday trading on Friday, reaching $360.67. 1,697,991 shares of the company's stock traded hands, compared to its average volume of 2,669,932. The company has a quick ratio of 0.84, a current ratio of 1.31 and a debt-to-equity ratio of 0.41. The stock's 50 day simple moving average is $332.74 and its 200-day simple moving average is $313.67. Eaton Corporation, PLC has a one year low of $231.85 and a one year high of $379.99. The company has a market cap of $141.13 billion, a price-to-earnings ratio of 36.39, a P/E/G ratio of 2.70 and a beta of 1.17.

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

Eaton Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were given a dividend of $1.04 per share. The ex-dividend date of this dividend was Monday, May 5th. This represents a $4.16 dividend on an annualized basis and a yield of 1.15%. Eaton's payout ratio is 41.98%.

Eaton 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.