Franklin Street Advisors Inc. NC grew its position in Eaton Co. plc (NYSE:ETN - Free Report) by 2.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,191 shares of the industrial products company's stock after acquiring an additional 1,016 shares during the period. Franklin Street Advisors Inc. NC's holdings in Eaton were worth $13,100,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of ETN. Trueblood Wealth Management LLC raised its stake in Eaton by 13.3% in the 1st quarter. Trueblood Wealth Management LLC now owns 1,904 shares of the industrial products company's stock worth $518,000 after purchasing an additional 224 shares in the last quarter. Moseley Investment Management Inc. raised its stake in Eaton by 15.3% in the 1st quarter. Moseley Investment Management Inc. now owns 24,023 shares of the industrial products company's stock worth $6,530,000 after purchasing an additional 3,190 shares in the last quarter. Sanibel Captiva Trust Company Inc. raised its stake in Eaton by 14.4% in the 1st quarter. Sanibel Captiva Trust Company Inc. now owns 5,725 shares of the industrial products company's stock worth $1,556,000 after purchasing an additional 719 shares in the last quarter. Sonora Investment Management Group LLC raised its stake in Eaton by 8.9% in the 1st quarter. Sonora Investment Management Group LLC now owns 2,171 shares of the industrial products company's stock worth $590,000 after purchasing an additional 177 shares in the last quarter. Finally, Accurate Wealth Management LLC raised its stake in Eaton by 10.2% in the 1st quarter. Accurate Wealth Management LLC now owns 1,276 shares of the industrial products company's stock worth $355,000 after purchasing an additional 118 shares in the last quarter. Institutional investors own 82.97% of the company's stock.
Eaton Stock Down 2.1%
Shares of ETN traded down $7.08 during trading hours on Friday, hitting $323.26. The company had a trading volume of 1,565,268 shares, compared to its average volume of 2,641,091. The firm has a fifty day moving average price of $304.79 and a 200-day moving average price of $315.02. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. The stock has a market capitalization of $126.49 billion, a price-to-earnings ratio of 34.03, a P/E/G ratio of 2.64 and a beta of 1.16. Eaton Co. plc has a 52-week low of $231.85 and a 52-week high of $379.99.
Eaton (NYSE:ETN - Get Free Report) last issued its earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share for the quarter, topping analysts' consensus estimates of $2.70 by $0.02. Eaton had a return on equity of 22.62% and a net margin of 15.25%. The business had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.26 billion. During the same quarter in the previous year, the firm earned $2.40 EPS. Eaton's revenue was up 7.3% on a year-over-year basis. On average, equities research analysts forecast that Eaton Co. plc will post 12.02 EPS for the current fiscal year.
Eaton Announces Dividend
The company also recently declared 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 of this dividend was Monday, May 5th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.29%. Eaton's dividend payout ratio is currently 41.98%.
Insider Buying and Selling at Eaton
In related news, insider Craig Arnold sold 103,486 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was 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 now directly owns 490,208 shares in the company, valued at approximately $158,214,632. The trade was a 17.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michael Yelton sold 2,120 shares of the business's 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 transaction, the insider now owns 3,382 shares of the company's stock, valued at approximately $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 sold a total of 156,660 shares of company stock worth $49,622,894 in the last three months. 0.30% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on the stock. 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. Evercore ISI boosted 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. Jefferies Financial Group dropped their target price on shares of Eaton from $390.00 to $335.00 and set a "buy" rating for the company in a research report on Wednesday, March 12th. Barclays boosted their target price on shares of Eaton from $306.00 to $323.00 and gave the company an "equal weight" rating in a research report on Monday, June 9th. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and set a $355.00 price target on shares of Eaton in a report on Monday, May 5th. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $368.78.
Check Out Our Latest Analysis on ETN
About Eaton
(
Free Report)
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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