J.W. Cole Advisors Inc. Grows Stock Position in Eaton Corporation, PLC (NYSE:ETN)

J.W. Cole Advisors Inc. lifted its stake in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 130.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,762 shares of the industrial products company's stock after acquiring an additional 8,914 shares during the period. J.W. Cole Advisors Inc.'s holdings in Eaton were worth $4,285,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in Eaton during the fourth quarter worth about $1,495,582,000. GAMMA Investing LLC increased its holdings in Eaton by 27,281.9% during the 1st quarter. GAMMA Investing LLC now owns 3,593,321 shares of the industrial products company's stock valued at $976,772,000 after purchasing an additional 3,580,198 shares during the period. Capital International Investors purchased a new position in Eaton during the 4th quarter valued at about $523,541,000. Leigh Baldwin & CO. LLC purchased a new position in shares of Eaton during the 4th quarter worth approximately $231,552,000. Finally, Janus Henderson Group PLC grew its holdings in shares of Eaton by 24.3% during the 4th quarter. Janus Henderson Group PLC now owns 3,007,570 shares of the industrial products company's stock worth $998,144,000 after acquiring an additional 588,370 shares during the period. 82.97% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Eaton news, insider Michael Yelton sold 2,120 shares of the company's 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 in the company, valued at approximately $1,004,014.34. This represents a 38.53% decrease in their ownership of the stock. The sale was disclosed in a legal 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 dated 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 owned 490,208 shares of the company's stock, valued at approximately $158,214,632. This trade represents a 17.43% decrease in their position. 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. 0.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ETN. Citigroup increased their price target on Eaton from $351.00 to $420.00 and gave the company a "buy" rating in a report on Monday, July 14th. BNP Paribas Exane began coverage on Eaton in a report on Thursday, May 15th. They issued an "outperform" rating and a $380.00 target price on the stock. KeyCorp raised their target price on Eaton from $355.00 to $410.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. JPMorgan Chase & Co. raised their target price on Eaton from $300.00 to $360.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Finally, Wall Street Zen upgraded Eaton from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. Six research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $377.89.

Eaton Stock Performance

Eaton stock opened at $378.89 on Monday. The company has a market capitalization of $148.26 billion, a PE ratio of 38.23, a P/E/G ratio of 2.86 and a beta of 1.17. The company has a 50 day moving average price of $339.29 and a 200-day moving average price of $314.57. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.84 and a current ratio of 1.31. Eaton Corporation, PLC has a fifty-two week low of $231.85 and a fifty-two week high of $384.51.

Eaton (NYSE:ETN - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The industrial products company reported $2.72 earnings per share (EPS) 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 company had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.26 billion. During the same period last year, the company posted $2.40 earnings per share. Eaton's revenue was up 7.3% compared to the same quarter last year. As a group, equities analysts forecast that Eaton Corporation, PLC will post 12.02 earnings per share for the current year.

Eaton Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders 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 annualized dividend and a dividend yield of 1.10%. Eaton's payout ratio is currently 41.98%.

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.

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