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

Golden State Wealth Management LLC grew its holdings in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 352.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,033 shares of the industrial products company's stock after buying an additional 3,920 shares during the quarter. Golden State Wealth Management LLC's holdings in Eaton were worth $1,369,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ETN. Capital A Wealth Management LLC bought a new stake in shares of Eaton in the 4th quarter worth about $26,000. Flagship Wealth Advisors LLC bought a new stake in Eaton in the fourth quarter worth about $27,000. Noble Wealth Management PBC purchased a new position in shares of Eaton during the fourth quarter valued at approximately $30,000. Murphy & Mullick Capital Management Corp bought a new position in shares of Eaton during the fourth quarter valued at approximately $33,000. Finally, Vermillion Wealth Management Inc. purchased a new stake in shares of Eaton in the fourth quarter worth approximately $33,000. Hedge funds and other institutional investors own 82.97% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ETN. Wall Street Zen upgraded Eaton from a "hold" rating to a "buy" rating in a report on Sunday, May 18th. JPMorgan Chase & Co. upped their price target on shares of Eaton from $300.00 to $360.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Barclays lifted their price objective on shares of Eaton from $306.00 to $323.00 and gave the company an "equal weight" rating in a report on Monday, June 9th. Wells Fargo & Company restated an "overweight" rating and issued a $355.00 target price on shares of Eaton in a research note on Monday, May 5th. Finally, KeyCorp lifted their price target on shares of Eaton from $325.00 to $355.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $368.78.

Insiders Place Their Bets

In other Eaton news, insider Craig Arnold sold 51,054 shares of Eaton stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $305.43, for a total transaction of $15,593,423.22. Following the completion of the sale, the insider now owns 489,444 shares of the company's stock, valued at approximately $149,490,880.92. The trade was a 9.45% 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 firm's 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 completion of the transaction, the insider now 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 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. 0.30% of the stock is currently owned by corporate insiders.

Eaton Stock Up 1.6%

Eaton stock traded up $5.60 during trading hours on Friday, reaching $353.74. The stock had a trading volume of 3,704,268 shares, compared to its average volume of 2,664,876. The company has a market cap of $138.42 billion, a price-to-earnings ratio of 35.70, a PEG ratio of 2.70 and a beta of 1.16. The business's 50 day moving average price is $316.32 and its 200-day moving average price is $312.86. Eaton Corporation, PLC has a 52 week low of $231.85 and a 52 week high of $379.99. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.31 and a quick ratio of 0.84.

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. Sell-side analysts anticipate that Eaton Corporation, PLC will post 12.02 EPS for the current year.

Eaton Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date was Monday, May 5th. Eaton's dividend payout ratio (DPR) is presently 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.