Hendley & Co. Inc. Has $6.59 Million Holdings in Eaton Corporation, PLC (NYSE:ETN)

Hendley & Co. Inc. lifted its holdings in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 57.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 24,238 shares of the industrial products company's stock after purchasing an additional 8,820 shares during the period. Eaton accounts for approximately 2.3% of Hendley & Co. Inc.'s portfolio, making the stock its 16th biggest holding. Hendley & Co. Inc.'s holdings in Eaton were worth $6,589,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in ETN. Cloud Capital Management LLC acquired a new position in shares of Eaton during the first quarter worth approximately $47,000. Core Alternative Capital increased its position in Eaton by 0.9% during the first quarter. Core Alternative Capital now owns 5,686 shares of the industrial products company's stock worth $1,546,000 after acquiring an additional 53 shares during the period. Sharp Financial Services LLC raised its stake in Eaton by 40.6% during the 1st quarter. Sharp Financial Services LLC now owns 1,080 shares of the industrial products company's stock valued at $294,000 after purchasing an additional 312 shares during the last quarter. Adell Harriman & Carpenter Inc. boosted its holdings in Eaton by 1.8% in the 1st quarter. Adell Harriman & Carpenter Inc. now owns 58,680 shares of the industrial products company's stock valued at $15,951,000 after purchasing an additional 1,065 shares during the period. Finally, Wayfinding Financial LLC acquired a new stake in Eaton in the 1st quarter worth $89,000. Institutional investors and hedge funds own 82.97% of the company's stock.

Eaton Price Performance

NYSE:ETN traded down $1.32 on Tuesday, reaching $357.17. The stock had a trading volume of 1,739,272 shares, compared to its average volume of 2,667,615. 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 market capitalization of $139.76 billion, a P/E ratio of 36.04, a price-to-earnings-growth ratio of 2.70 and a beta of 1.17. Eaton Corporation, PLC has a 1-year low of $231.85 and a 1-year high of $379.99. The stock has a fifty day moving average price of $329.10 and a 200-day moving average price of $313.08.

Eaton (NYSE:ETN - Get Free Report) last announced its earnings results 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 business had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.26 billion. During the same period in the previous year, the business earned $2.40 EPS. Eaton's revenue was up 7.3% compared to the same quarter last year. Research analysts forecast 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. Investors of record on Monday, May 5th were issued a $1.04 dividend. The ex-dividend date was Monday, May 5th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.16%. Eaton's dividend payout ratio is 41.98%.

Insider Activity

In related news, insider Craig Arnold sold 103,486 shares of the business's stock in a transaction that occurred on 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 owned 490,208 shares in the company, valued at $158,214,632. The trade was a 17.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Michael Yelton sold 2,120 shares of the stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total value of $629,364.40. Following the completion of the transaction, the insider owned 3,382 shares in the company, valued at $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. In the last quarter, insiders have sold 156,660 shares of company stock worth $49,622,894. 0.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ETN. Citigroup increased their target price on shares of Eaton from $323.00 to $351.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Barclays raised their price objective on Eaton from $306.00 to $323.00 and gave the stock an "equal weight" rating in a research report on Monday, June 9th. Jefferies Financial Group lowered their price objective on Eaton from $390.00 to $335.00 and set a "buy" rating on the stock in a research report on Wednesday, March 12th. JPMorgan Chase & Co. raised their target price on Eaton from $300.00 to $360.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Finally, Royal Bank Of Canada lifted their price target 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. Six equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $369.74.

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.