JPL Wealth Management LLC Sells 1,133 Shares of Eaton Corporation, PLC (NYSE:ETN)

JPL Wealth Management LLC decreased its holdings in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 45.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,336 shares of the industrial products company's stock after selling 1,133 shares during the quarter. JPL Wealth Management LLC's holdings in Eaton were worth $363,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of ETN. Brighton Jones LLC grew its stake in shares of Eaton by 1.4% in the fourth quarter. Brighton Jones LLC now owns 3,341 shares of the industrial products company's stock worth $1,109,000 after purchasing an additional 45 shares during the last quarter. Revolve Wealth Partners LLC boosted 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 valued at $303,000 after acquiring an additional 136 shares during the last quarter. Bank Pictet & Cie Europe AG bought a new stake in Eaton during the fourth quarter valued at $42,839,000. CoreFirst Bank & Trust bought a new position in shares of Eaton during the 4th quarter worth about $984,000. Finally, Modern Wealth Management LLC boosted its position in shares of Eaton by 7.1% during the 4th quarter. Modern Wealth Management LLC now owns 6,585 shares of the industrial products company's stock worth $2,107,000 after purchasing an additional 437 shares in the last quarter. Institutional investors own 82.97% of the company's stock.

Eaton Price Performance

NYSE:ETN traded up $7.39 during trading hours on Friday, hitting $392.29. The stock had a trading volume of 2,106,513 shares, compared to its average volume of 2,016,849. The company has a 50 day simple moving average of $344.57 and a two-hundred day simple moving average of $316.22. 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 firm has a market capitalization of $153.50 billion, a price-to-earnings ratio of 39.59, a P/E/G ratio of 2.90 and a beta of 1.17. Eaton Corporation, PLC has a one year low of $231.85 and a one year high of $393.07.

Eaton (NYSE:ETN - Get Free Report) last announced its earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share (EPS) for the quarter, topping 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 company had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.26 billion. During the same period in the previous year, the business earned $2.40 earnings per share. The firm's quarterly revenue was up 7.3% compared to the same quarter last year. Research analysts forecast that Eaton Corporation, PLC will post 12.02 earnings per share for the current fiscal year.

Eaton Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on ETN shares. Wells Fargo & Company increased their price objective on shares of Eaton from $310.00 to $360.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 1st. Morgan Stanley cut their price objective on shares of Eaton from $385.00 to $375.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. Royal Bank Of Canada upped their target price on shares of Eaton from $336.00 to $356.00 and gave the stock an "outperform" rating in a report on Monday, May 5th. The Goldman Sachs Group upped their target price on shares of Eaton from $345.00 to $382.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Finally, Evercore ISI upped their target price on shares of Eaton from $326.00 to $349.00 and gave the stock an "in-line" rating in a report on Monday, May 19th. Six equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $377.89.

Insider Buying and Selling at Eaton

In related news, insider Michael Yelton sold 2,120 shares of Eaton 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 transaction, the insider owned 3,382 shares in the company, valued at $1,004,014.34. This trade represents a 38.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Craig Arnold sold 103,486 shares of the business's stock in a transaction dated 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 owned 490,208 shares in the company, valued at $158,214,632. The trade was a 17.43% decrease in their position. The disclosure for this sale can be found here. Insiders sold 156,660 shares of company stock valued at $49,622,894 over the last quarter. 0.30% of the stock is 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.