Koss Olinger Consulting LLC Invests $335,000 in Eaton Corporation, PLC (NYSE:ETN)

Key Points

• Koss Olinger Consulting LLC has invested $335,000 in Eaton Corporation, PLC (NYSE:ETN), purchasing 1,231 shares during the first quarter.
• Institutional investors currently own 82.97% of Eaton's stock, indicating strong interest from the investment community.
• Eaton recently reported earnings of $2.95 per share for the last quarter, exceeding analyst expectations and reflecting a 10.7% year-over-year revenue growth.

Koss Olinger Consulting LLC purchased a new position in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,231 shares of the industrial products company's stock, valued at approximately $335,000.

A number of other institutional investors and hedge funds have also made changes to their positions in ETN. Commonwealth Financial Services LLC increased its position in Eaton by 2.9% in the 1st quarter. Commonwealth Financial Services LLC now owns 1,175 shares of the industrial products company's stock valued at $319,000 after acquiring an additional 33 shares during the period. Checchi Capital Advisers LLC increased its position in Eaton by 0.7% in the 1st quarter. Checchi Capital Advisers LLC now owns 5,071 shares of the industrial products company's stock valued at $1,378,000 after acquiring an additional 37 shares during the period. Lantern Wealth Advisors LLC increased its position in Eaton by 1.0% in the 4th quarter. Lantern Wealth Advisors LLC now owns 4,038 shares of the industrial products company's stock valued at $1,340,000 after acquiring an additional 38 shares during the period. AGH Wealth Advisors LLC increased its position in Eaton by 2.6% in the 1st quarter. AGH Wealth Advisors LLC now owns 1,517 shares of the industrial products company's stock valued at $412,000 after acquiring an additional 38 shares during the period. Finally, Revolve Wealth Partners LLC increased its position in Eaton by 4.2% in the 1st quarter. Revolve Wealth Partners LLC now owns 951 shares of the industrial products company's stock valued at $259,000 after acquiring an additional 38 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Eaton Trading Up 0.8%

Eaton stock opened at $363.07 on Monday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.76 and a current ratio of 1.24. The business's 50-day simple moving average is $354.99 and its 200-day simple moving average is $317.65. The firm has a market capitalization of $141.34 billion, a PE ratio of 36.53, a PEG ratio of 2.68 and a beta of 1.18. Eaton Corporation, PLC has a 52 week low of $231.85 and a 52 week high of $399.56.

Eaton (NYSE:ETN - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.92 by $0.03. Eaton had a return on equity of 23.91% and a net margin of 15.11%. The firm had revenue of $7.03 billion for the quarter, compared to analyst estimates of $6.93 billion. During the same period in the previous year, the company posted $2.73 earnings per share. The company's quarterly revenue was up 10.7% compared to the same quarter last year. Equities research analysts forecast that Eaton Corporation, PLC will post 12.02 earnings per share for the current year.

Eaton Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Thursday, August 7th will be issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Thursday, August 7th. Eaton's payout ratio is presently 41.85%.

Analyst Upgrades and Downgrades

Several analysts recently commented on ETN shares. BNP Paribas started coverage on Eaton in a research report on Thursday, May 15th. They issued an "outperform" rating and a $380.00 target price on the stock. Wells Fargo & Company lifted their price target on Eaton from $310.00 to $360.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 1st. BNP Paribas Exane began coverage on Eaton in a research report on Thursday, May 15th. They set an "outperform" rating and a $380.00 price target on the stock. The Goldman Sachs Group lifted their price target on Eaton from $345.00 to $382.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Finally, KeyCorp lifted their price target on Eaton from $355.00 to $410.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $383.63.

Eaton 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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