Kestra Private Wealth Services LLC Raises Stock Holdings in Eaton Corporation, PLC (NYSE:ETN)

Kestra Private Wealth Services LLC increased its stake in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 15.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 46,469 shares of the industrial products company's stock after buying an additional 6,350 shares during the quarter. Kestra Private Wealth Services LLC's holdings in Eaton were worth $12,632,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of ETN. Capital A Wealth Management LLC purchased a new position in shares of Eaton during the fourth quarter valued at $26,000. Creative Financial Designs Inc. ADV increased its stake in shares of Eaton by 102.0% during the first quarter. Creative Financial Designs Inc. ADV now owns 101 shares of the industrial products company's stock valued at $27,000 after buying an additional 51 shares during the period. Murphy & Mullick Capital Management Corp purchased a new position in shares of Eaton during the fourth quarter valued at $33,000. Vermillion Wealth Management Inc. purchased a new position in Eaton in the fourth quarter valued at about $33,000. Finally, Abound Wealth Management grew its stake in Eaton by 73.8% in the first quarter. Abound Wealth Management now owns 146 shares of the industrial products company's stock valued at $40,000 after purchasing an additional 62 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors.

Insider Activity at Eaton

In other news, insider Michael Yelton sold 2,120 shares of the business'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 transaction, the insider owned 3,382 shares of the company's stock, valued at approximately $1,004,014.34. The trade was a 38.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Craig Arnold sold 103,486 shares of the business's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $322.75, for a total value 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. The trade was a 17.43% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 156,660 shares of company stock worth $49,622,894. 0.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

ETN has been the subject of several recent analyst reports. BNP Paribas Exane started coverage on Eaton in a report on Thursday, May 15th. They issued an "outperform" rating and a $380.00 price target for the company. Morgan Stanley decreased their price target on Eaton from $385.00 to $375.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. BNP Paribas assumed coverage on Eaton in a report on Thursday, May 15th. They issued an "outperform" rating and a $380.00 price target for the company. Sanford C. Bernstein reaffirmed an "outperform" rating and set a $396.00 target price on shares of Eaton in a research note on Monday, July 14th. Finally, Citigroup upped their target price on Eaton from $351.00 to $420.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. Six 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, the company currently has an average rating of "Moderate Buy" and a consensus price target of $377.89.

Eaton Trading Down 0.5%

Shares of NYSE ETN traded down $1.83 during mid-day trading on Friday, reaching $378.89. 2,941,019 shares of the company's stock were exchanged, compared to its average volume of 2,668,275. The firm has a market capitalization of $148.26 billion, a price-to-earnings ratio of 38.23, a PEG ratio of 2.86 and a beta of 1.17. 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 52-week low of $231.85 and a 52-week high of $384.51. The company's 50-day moving average is $339.29 and its 200-day moving average is $314.69.

Eaton (NYSE:ETN - Get Free Report) last announced its earnings results on Friday, May 2nd. The industrial products company reported $2.72 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $6.26 billion. During the same period last year, the business posted $2.40 EPS. Eaton's revenue for the quarter was up 7.3% on a year-over-year basis. Analysts expect that Eaton Corporation, PLC will post 12.02 EPS for the current fiscal year.

Eaton Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 5th were given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 1.10%. The ex-dividend date was Monday, May 5th. Eaton's dividend payout ratio (DPR) is presently 41.98%.

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.