HighPoint Advisor Group LLC Buys 2,082 Shares of Eaton Corporation, PLC (NYSE:ETN)

HighPoint Advisor Group LLC increased its holdings in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 22.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,178 shares of the industrial products company's stock after purchasing an additional 2,082 shares during the quarter. HighPoint Advisor Group LLC's holdings in Eaton were worth $3,249,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Brighton Jones LLC grew its holdings in Eaton by 1.4% during the fourth quarter. Brighton Jones LLC now owns 3,341 shares of the industrial products company's stock valued at $1,109,000 after purchasing an additional 45 shares during the last quarter. Revolve Wealth Partners LLC grew its position in Eaton by 17.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 913 shares of the industrial products company's stock worth $303,000 after buying an additional 136 shares in the last quarter. Bank Pictet & Cie Europe AG bought a new position in Eaton during the fourth quarter valued at about $42,839,000. Proficio Capital Partners LLC lifted its position in shares of Eaton by 27.6% in the 4th quarter. Proficio Capital Partners LLC now owns 2,207 shares of the industrial products company's stock worth $732,000 after acquiring an additional 478 shares during the period. Finally, AXQ Capital LP acquired a new stake in shares of Eaton during the 4th quarter worth approximately $319,000. 82.97% of the stock is currently owned by institutional investors.

Eaton Stock Down 1.3%

NYSE ETN traded down $4.91 during trading hours on Monday, reaching $373.71. 2,444,913 shares of the company's stock were exchanged, compared to its average volume of 2,667,381. The company has a market capitalization of $146.23 billion, a price-to-earnings ratio of 34.05, a price-to-earnings-growth ratio of 2.86 and a beta of 1.17. Eaton Corporation, PLC has a one year low of $231.85 and a one year high of $384.51. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.84 and a current ratio of 1.31. The company's 50-day moving average is $339.29 and its two-hundred day moving average is $314.57.

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 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 company had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.26 billion. During the same quarter in the prior year, the business earned $2.40 earnings per share. The firm's revenue for the quarter was up 7.3% on a year-over-year basis. On average, analysts forecast that Eaton Corporation, PLC will post 12.02 EPS for the current fiscal year.

Eaton Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were paid a dividend of $1.04 per share. The ex-dividend date was Monday, May 5th. This represents a $4.16 dividend on an annualized basis and a yield of 1.11%. Eaton's payout ratio is 41.98%.

Insider Buying and Selling at Eaton

In other news, insider Craig Arnold sold 103,486 shares of the company'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 directly owned 490,208 shares in the company, valued at approximately $158,214,632. This represents a 17.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael Yelton sold 2,120 shares of the stock in a transaction dated 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 of the company's stock, valued at $1,004,014.34. This represents a 38.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 156,660 shares of company stock valued at $49,622,894 over the last 90 days. Corporate insiders own 0.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. KeyCorp upped their target price on shares of Eaton from $355.00 to $410.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. Sanford C. Bernstein reaffirmed an "outperform" rating and issued a $396.00 price target on shares of Eaton in a research note on Monday, July 14th. JPMorgan Chase & Co. lifted their price objective on Eaton from $300.00 to $360.00 and gave the company an "overweight" rating in a report on Friday, May 16th. BNP Paribas Exane assumed coverage on shares of Eaton in a research report on Thursday, May 15th. They set an "outperform" rating and a $380.00 target price for the company. Finally, Morgan Stanley dropped their price objective on shares of Eaton from $385.00 to $375.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. Six research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, Eaton currently has a consensus rating of "Moderate Buy" and an average target price of $377.89.

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.