Eaton Corporation, PLC (NYSE:ETN) Shares Acquired by Golden State Wealth Management LLC

Golden State Wealth Management LLC boosted its stake in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 99.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,219 shares of the industrial products company's stock after purchasing an additional 1,106 shares during the quarter. Golden State Wealth Management LLC's holdings in Eaton were worth $603,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Capital A Wealth Management LLC bought a new position in shares of Eaton in the fourth quarter worth approximately $26,000. Flagship Wealth Advisors LLC bought a new stake in Eaton in the fourth quarter valued at $27,000. Creative Financial Designs Inc. ADV boosted its holdings in Eaton by 102.0% in the first quarter. Creative Financial Designs Inc. ADV now owns 101 shares of the industrial products company's stock valued at $27,000 after acquiring an additional 51 shares in the last quarter. Murphy & Mullick Capital Management Corp purchased a new position in Eaton during the fourth quarter valued at $33,000. Finally, Vermillion Wealth Management Inc. purchased a new position in Eaton during the fourth quarter valued at $33,000. 82.97% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Craig Arnold sold 103,486 shares of Eaton stock in a transaction dated 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 sale, the insider 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Michael Yelton sold 2,120 shares of Eaton stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total value 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. This trade represents a 38.53% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 156,660 shares of company stock valued at $49,622,894. Company insiders own 0.30% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Morgan Stanley lowered their price target on Eaton from $385.00 to $375.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. Wells Fargo & Company lifted their price target on Eaton from $310.00 to $360.00 and gave the stock an "equal weight" rating in a research report on Tuesday. Evercore ISI lifted their price target on Eaton from $326.00 to $349.00 and gave the stock an "in-line" rating in a research report on Monday, May 19th. Citigroup lifted their price target on Eaton from $323.00 to $351.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. Finally, Barclays boosted their target price on Eaton from $306.00 to $323.00 and gave the stock an "equal weight" rating in a research report on Monday, June 9th. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat.com, Eaton presently has an average rating of "Moderate Buy" and an average price target of $369.06.

Eaton Stock Performance

Shares of Eaton stock traded up $3.79 during midday trading on Friday, hitting $361.98. The company had a trading volume of 1,088,135 shares, compared to its average volume of 2,664,244. The stock has a market cap of $141.64 billion, a price-to-earnings ratio of 36.53, a PEG ratio of 2.73 and a beta of 1.17. 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 company has a fifty day simple moving average of $326.36 and a 200 day simple moving average of $312.94. Eaton Corporation, PLC has a 12-month low of $231.85 and a 12-month high of $379.99.

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, beating the consensus estimate of $2.70 by $0.02. The firm had revenue of $6.38 billion during 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%. Eaton's revenue was up 7.3% on a year-over-year basis. During the same period last year, the firm posted $2.40 EPS. As a group, analysts predict that Eaton Corporation, PLC will post 12.02 earnings per share for the current fiscal year.

Eaton Dividend Announcement

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

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.