Integrated Investment Consultants LLC Buys New Shares in Eaton Corporation, PLC (NYSE:ETN)

Key Points

• Integrated Investment Consultants LLC has made a new investment of approximately $693,000 in Eaton Corporation, purchasing 2,548 shares during the first quarter.
• Insider Michael Yelton sold 2,120 shares of Eaton stock for $629,364.40, reducing their ownership by 38.53%.
• Eaton has announced a quarterly dividend of $1.04 per share, set to be paid on August 22nd, with an annualized yield of 1.06%.

Integrated Investment Consultants LLC bought a new stake in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,548 shares of the industrial products company's stock, valued at approximately $693,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. HB Wealth Management LLC lifted its holdings in Eaton by 30.0% in the first quarter. HB Wealth Management LLC now owns 21,486 shares of the industrial products company's stock worth $5,841,000 after acquiring an additional 4,962 shares during the last quarter. Angeles Wealth Management LLC boosted its position in shares of Eaton by 3.8% in the first quarter. Angeles Wealth Management LLC now owns 1,118 shares of the industrial products company's stock worth $304,000 after buying an additional 41 shares during the period. Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD purchased a new position in shares of Eaton during the 1st quarter valued at $3,229,000. Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet LTD acquired a new stake in shares of Eaton during the 1st quarter valued at about $9,418,000. Finally, Nvwm LLC increased its position in Eaton by 118.8% during the first quarter. Nvwm LLC now owns 10,363 shares of the industrial products company's stock worth $2,817,000 after buying an additional 5,626 shares during the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Eaton Price Performance

Shares of Eaton stock traded up $0.81 during trading on Monday, hitting $392.98. 2,334,412 shares of the stock traded hands, compared to its average volume of 1,936,998. Eaton Corporation, PLC has a 52 week low of $231.85 and a 52 week high of $399.56. 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 firm's fifty day moving average is $344.57 and its 200-day moving average is $315.82. The stock has a market cap of $153.77 billion, a price-to-earnings ratio of 39.65, a PEG ratio of 2.96 and a beta of 1.17.

Eaton (NYSE:ETN - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.70 by $0.02. Eaton had a net margin of 15.55% and a return on equity of 23.41%. The business had revenue of $6.38 billion during the quarter, compared to analysts' expectations of $6.26 billion. During the same quarter in the prior year, the company posted $2.40 EPS. The firm's revenue for the quarter was up 7.3% compared to the same quarter last year. Research analysts expect 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 will be paid on Friday, August 22nd. Shareholders of record on Thursday, August 7th will be given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 1.06%. The ex-dividend date is Thursday, August 7th. Eaton's dividend payout ratio is currently 41.98%.

Wall Street Analysts Forecast Growth

ETN has been the topic of several research analyst reports. Sanford C. Bernstein restated an "outperform" rating and issued a $396.00 price target on shares of Eaton in a research report on Monday, July 14th. The Goldman Sachs Group raised their price target on shares of Eaton from $345.00 to $382.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Citigroup boosted their target price on Eaton from $351.00 to $420.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. KeyCorp raised their price target on Eaton from $355.00 to $410.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Finally, Wells Fargo & Company raised their target price on shares of Eaton from $310.00 to $360.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 1st. Six research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Eaton presently has a consensus rating of "Moderate Buy" and a consensus price target of $377.89.

Insiders Place Their Bets

In other news, insider Craig Arnold sold 103,486 shares of Eaton stock in a transaction that occurred 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 trade represents a 17.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael Yelton sold 2,120 shares of the company's stock in a transaction that occurred on 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 sale, the insider owned 3,382 shares in the company, valued at $1,004,014.34. The trade was a 38.53% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 156,660 shares of company stock worth $49,622,894. Company insiders own 0.30% of the company's stock.

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.