843 Shares in Eaton Corporation, PLC (NYSE:ETN) Bought by Intellus Advisors LLC

Key Points

• Intellus Advisors LLC acquired a new stake in Eaton Corporation, PLC worth approximately $229,000 by purchasing 843 shares in the first quarter.
• Eaton reported earnings of $2.72 per share for the last quarter, exceeding analysts' estimates, with revenue year-over-year increasing by 7.3% to $6.38 billion.
• The company declared a quarterly dividend of $1.04 per share, translating to an annual yield of 1.06%, set to be paid on August 22nd.

Intellus Advisors LLC purchased a new position in Eaton Corporation, PLC (NYSE:ETN - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 843 shares of the industrial products company's stock, valued at approximately $229,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Bearing Point Capital LLC boosted its position in shares of Eaton by 12.8% in the 1st quarter. Bearing Point Capital LLC now owns 9,226 shares of the industrial products company's stock worth $2,508,000 after purchasing an additional 1,050 shares in the last quarter. Integrated Investment Consultants LLC bought a new stake in shares of Eaton in the 1st quarter worth approximately $693,000. HB Wealth Management LLC boosted its position in shares of Eaton by 30.0% in the 1st quarter. HB Wealth Management LLC now owns 21,486 shares of the industrial products company's stock worth $5,841,000 after purchasing an additional 4,962 shares in the last quarter. Angeles Wealth Management LLC boosted its position in shares of Eaton by 3.8% in the 1st quarter. Angeles Wealth Management LLC now owns 1,118 shares of the industrial products company's stock worth $304,000 after purchasing an additional 41 shares in the last quarter. Finally, Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD bought a new stake in shares of Eaton in the 1st quarter worth approximately $3,229,000. 82.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ETN. Wells Fargo & Company boosted their price objective on shares of Eaton from $310.00 to $360.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 1st. JPMorgan Chase & Co. boosted their price objective on shares of Eaton from $300.00 to $360.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. The Goldman Sachs Group boosted their price objective on shares of Eaton from $345.00 to $382.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. BNP Paribas Exane began 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. Finally, Barclays boosted their price objective on shares of Eaton from $323.00 to $340.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 9th. Six analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, Eaton has an average rating of "Moderate Buy" and an average target price of $377.89.

Eaton Stock Performance

Shares of NYSE:ETN traded up $1.07 during midday trading on Wednesday, hitting $391.08. The company had a trading volume of 1,138,203 shares, compared to its average volume of 3,046,978. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.31 and a quick ratio of 0.84. The company has a market cap of $153.03 billion, a price-to-earnings ratio of 39.45, a PEG ratio of 2.96 and a beta of 1.17. Eaton Corporation, PLC has a 12-month low of $231.85 and a 12-month high of $399.56. The company has a fifty day moving average of $347.09 and a two-hundred day moving average of $316.69.

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. The firm had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.26 billion. Eaton had a return on equity of 23.41% and a net margin of 15.55%. Eaton's revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.40 EPS. On average, equities research analysts expect that Eaton Corporation, PLC will post 12.02 EPS for the current fiscal year.

Eaton Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Thursday, August 7th will be paid a $1.04 dividend. The ex-dividend date is Thursday, August 7th. This represents a $4.16 annualized dividend and a dividend yield of 1.06%. Eaton's dividend payout ratio (DPR) is 41.98%.

Insider Buying and Selling at Eaton

In related news, insider Michael Yelton sold 2,120 shares of the company's 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 of the company's stock, valued at approximately $1,004,014.34. This represents a 38.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Craig Arnold sold 103,486 shares of the company's stock in a transaction on Monday, May 12th. The stock was 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 of the company's stock, valued at $158,214,632. This represents a 17.43% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 156,660 shares of company stock valued at $49,622,894 over the last 90 days. 0.30% of the stock is currently owned by company insiders.

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.