Grimes & Company Inc. Has $18.26 Million Holdings in Eaton Corporation, PLC (NYSE:ETN)

Grimes & Company Inc. increased its stake in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 71.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 67,160 shares of the industrial products company's stock after purchasing an additional 27,894 shares during the period. Grimes & Company Inc.'s holdings in Eaton were worth $18,256,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Norges Bank bought a new stake in shares of Eaton during the 4th quarter worth $1,495,582,000. GAMMA Investing LLC boosted its stake in shares of Eaton by 27,281.9% during the 1st quarter. GAMMA Investing LLC now owns 3,593,321 shares of the industrial products company's stock worth $976,772,000 after acquiring an additional 3,580,198 shares in the last quarter. Capital International Investors bought a new stake in shares of Eaton during the 4th quarter worth $523,541,000. Proficio Capital Partners LLC boosted its position in shares of Eaton by 42,255.3% in the fourth quarter. Proficio Capital Partners LLC now owns 732,323 shares of the industrial products company's stock worth $243,036,000 after buying an additional 730,594 shares during the period. Finally, Leigh Baldwin & CO. LLC acquired a new stake in shares of Eaton in the fourth quarter worth $231,552,000. Institutional investors own 82.97% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. BNP Paribas Exane assumed coverage on Eaton in a research report on Thursday, May 15th. They set an "outperform" rating and a $380.00 price objective for the company. Jefferies Financial Group reduced their price objective on Eaton from $390.00 to $335.00 and set a "buy" rating for the company in a research report on Wednesday, March 12th. Morgan Stanley reduced their price objective on Eaton from $385.00 to $375.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. Royal Bank Of Canada lifted their price objective on Eaton from $336.00 to $356.00 and gave the company an "outperform" rating in a research report on Monday, May 5th. Finally, Evercore ISI lifted their price objective on Eaton from $326.00 to $349.00 and gave the company an "in-line" rating in a research report on Monday, May 19th. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, Eaton has a consensus rating of "Moderate Buy" and a consensus price target of $368.78.

Eaton Trading Up 1.0%

Eaton stock traded up $3.41 during mid-day trading on Thursday, hitting $333.92. 2,968,945 shares of the company's stock were exchanged, compared to its average volume of 2,647,973. The company's 50 day simple moving average is $309.71 and its 200-day simple moving average is $313.95. The firm has a market capitalization of $130.66 billion, a P/E ratio of 33.70, a PEG ratio of 2.60 and a beta of 1.16. The company has a quick ratio of 0.84, a current ratio of 1.31 and a debt-to-equity ratio of 0.41. Eaton Corporation, PLC has a fifty-two week low of $231.85 and a fifty-two week high of $379.99.

Eaton (NYSE:ETN - Get Free Report) last released its earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.70 by $0.02. The firm had revenue of $6.38 billion during the quarter, compared to analysts' expectations of $6.26 billion. Eaton had a return on equity of 23.41% and a net margin of 15.55%. The company's revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.40 EPS. On average, equities analysts anticipate that Eaton Corporation, PLC will post 12.02 earnings per share for the current year.

Eaton Announces Dividend

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

Insiders Place Their Bets

In other news, 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 in the company, valued at $1,004,014.34. This trade represents a 38.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Craig Arnold sold 103,486 shares of the firm's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $322.75, for a total value of $33,400,106.50. Following the completion of the transaction, the insider now owns 490,208 shares of the company's stock, valued at $158,214,632. The trade was a 17.43% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 156,660 shares of company stock worth $49,622,894. Corporate insiders own 0.30% of the company's stock.

Eaton 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.