Good Steward Wealth Advisors LLC Buys Shares of 1,253 Eaton Corporation, PLC (NYSE:ETN)

Good Steward Wealth Advisors LLC purchased a new position in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,253 shares of the industrial products company's stock, valued at approximately $341,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ETN. Capital A Wealth Management LLC bought a new position in Eaton in the fourth quarter valued at $26,000. Flagship Wealth Advisors LLC acquired a new position in shares of Eaton during the 4th quarter worth about $27,000. Noble Wealth Management PBC bought a new position in shares of Eaton in the 4th quarter valued at about $30,000. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Eaton in the fourth quarter valued at about $33,000. Finally, Vermillion Wealth Management Inc. bought a new stake in Eaton during the fourth quarter worth about $33,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Eaton Stock Performance

ETN opened at $333.92 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.31 and a quick ratio of 0.84. The business has a fifty day simple moving average of $309.71 and a 200 day simple moving average of $313.95. Eaton Corporation, PLC has a 1 year low of $231.85 and a 1 year high of $379.99. The company has a market capitalization of $130.66 billion, a PE ratio of 33.70, a price-to-earnings-growth ratio of 2.60 and a beta of 1.16.

Eaton (NYSE:ETN - Get Free Report) last announced its earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share (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 previous year, the business posted $2.40 earnings per share. Eaton's quarterly revenue was up 7.3% on a year-over-year basis. Research analysts expect that Eaton Corporation, PLC will post 12.02 EPS for the current year.

Eaton Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 5th were issued a dividend of $1.04 per share. The ex-dividend date was Monday, May 5th. This represents a $4.16 annualized dividend and a dividend yield of 1.25%. Eaton's dividend payout ratio is presently 41.98%.

Analyst Upgrades and Downgrades

ETN has been the subject of a number of analyst reports. Wall Street Zen upgraded Eaton from a "hold" rating to a "buy" rating in a research note on Sunday, May 18th. Barclays boosted 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. Citigroup lifted their price objective on shares of Eaton from $323.00 to $351.00 and gave the company a "buy" rating in a research report on Monday, May 5th. 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 report on Tuesday, May 6th. Finally, KeyCorp lifted their price target on Eaton from $325.00 to $355.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $368.78.

Insider Activity

In other news, insider Michael Yelton sold 2,120 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total transaction of $629,364.40. Following the sale, the insider now directly owns 3,382 shares of the company's stock, valued at approximately $1,004,014.34. This represents a 38.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Craig Arnold sold 103,486 shares of the company's 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 sale, the insider now directly owns 490,208 shares of the company's stock, valued at $158,214,632. This represents a 17.43% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 156,660 shares of company stock worth $49,622,894. Corporate insiders own 0.30% of the company's stock.

Eaton Company 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.

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