Eaton Corporation, PLC (NYSE:ETN) Shares Purchased by GAM Holding AG

GAM Holding AG raised its position in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 17.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,755 shares of the industrial products company's stock after purchasing an additional 1,733 shares during the quarter. GAM Holding AG's holdings in Eaton were worth $3,195,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Bearing Point Capital LLC acquired a new position in shares of Eaton in the 4th quarter worth approximately $2,713,000. Brighton Jones LLC lifted its holdings in shares of Eaton by 4.9% in the 1st quarter. Brighton Jones LLC now owns 3,505 shares of the industrial products company's stock worth $953,000 after acquiring an additional 164 shares during the last quarter. Kennebec Savings Bank lifted its holdings in shares of Eaton by 5.4% in the 1st quarter. Kennebec Savings Bank now owns 2,715 shares of the industrial products company's stock worth $738,000 after acquiring an additional 139 shares during the last quarter. American National Bank & Trust lifted its holdings in shares of Eaton by 5.4% in the 1st quarter. American National Bank & Trust now owns 3,145 shares of the industrial products company's stock worth $855,000 after acquiring an additional 162 shares during the last quarter. Finally, Castle Rock Wealth Management LLC lifted its holdings in shares of Eaton by 7.0% in the 4th quarter. Castle Rock Wealth Management LLC now owns 8,330 shares of the industrial products company's stock worth $2,575,000 after acquiring an additional 543 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Eaton

In other news, insider Michael Yelton sold 2,120 shares of the business's stock in a transaction 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 transaction, the insider now directly owns 3,382 shares of the company's stock, valued at approximately $1,004,014.34. The trade was a 38.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Craig Arnold sold 103,486 shares of the business's stock in a transaction 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 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 156,660 shares of company stock worth $49,622,894. 0.30% of the stock is owned by company insiders.

Eaton Price Performance

NYSE:ETN traded down $3.52 during mid-day trading on Friday, hitting $331.34. 4,406,960 shares of the company's stock traded hands, compared to its average volume of 2,656,564. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.84 and a current ratio of 1.31. The firm's 50 day simple moving average is $310.79 and its 200 day simple moving average is $313.22. Eaton Corporation, PLC has a 1 year low of $231.85 and a 1 year high of $379.99. The company has a market cap of $129.65 billion, a PE ratio of 33.43, a price-to-earnings-growth ratio of 2.57 and a beta of 1.16.

Eaton (NYSE:ETN - Get Free Report) last issued 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 business had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.26 billion. Eaton had a net margin of 15.55% and a return on equity of 23.41%. The company's quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.40 earnings per share. Sell-side analysts expect that Eaton Corporation, PLC will post 12.02 EPS for the current year.

Eaton Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were issued a $1.04 dividend. The ex-dividend date was Monday, May 5th. This represents a $4.16 dividend on an annualized basis and a yield of 1.26%. Eaton's payout ratio is 41.98%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Wall Street Zen upgraded shares of Eaton from a "hold" rating to a "buy" rating in a report on Sunday, May 18th. Citigroup increased their target price on shares of Eaton from $323.00 to $351.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Barclays increased their target price on shares of Eaton from $306.00 to $323.00 and gave the stock an "equal weight" rating in a report on Monday, June 9th. JPMorgan Chase & Co. increased their target price on shares of Eaton from $300.00 to $360.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Finally, Evercore ISI increased their price objective 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. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average 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.