HCR Wealth Advisors Purchases 2,025 Shares of Eaton Corporation, PLC (NYSE:ETN)

HCR Wealth Advisors raised its stake in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 117.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,748 shares of the industrial products company's stock after buying an additional 2,025 shares during the period. HCR Wealth Advisors' holdings in Eaton were worth $1,019,000 at the end of the most recent quarter.

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

Insider Buying and Selling at Eaton

In related news, insider Michael Yelton sold 2,120 shares of the stock in a transaction that occurred 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 completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Craig Arnold sold 103,486 shares of the firm's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $322.75, for a total transaction of $33,400,106.50. Following the completion of the transaction, the insider now directly owns 490,208 shares of the company's stock, valued at approximately $158,214,632. This trade represents a 17.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 156,660 shares of company stock valued at $49,622,894 over the last ninety days. 0.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on ETN shares. Jefferies Financial Group decreased their target price on shares of Eaton from $390.00 to $335.00 and set a "buy" rating on the stock in a research note on Wednesday, March 12th. BNP Paribas started coverage on shares of Eaton in a report on Thursday, May 15th. They issued an "outperform" rating and a $380.00 price objective for the company. KeyCorp raised their target price on Eaton from $325.00 to $355.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Royal Bank Of Canada boosted their price objective on shares of Eaton from $336.00 to $356.00 and gave the stock an "outperform" rating in a research note on Monday, May 5th. Finally, Wall Street Zen raised Eaton from a "hold" rating to a "buy" rating in a research note on Sunday, May 18th. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $368.78.

Eaton Stock Performance

ETN stock traded down $0.69 during trading on Friday, reaching $334.17. The stock had a trading volume of 981,857 shares, compared to its average volume of 2,641,438. Eaton Corporation, PLC has a 52 week low of $231.85 and a 52 week high of $379.99. The firm has a market cap of $130.76 billion, a PE ratio of 33.70, a PEG ratio of 2.60 and a beta of 1.16. The company has a current ratio of 1.31, a quick ratio of 0.84 and a debt-to-equity ratio of 0.41. The stock's 50 day moving average is $309.71 and its two-hundred day moving average is $313.95.

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

Eaton Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 5th were given 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 1.24%. Eaton's payout ratio is 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.