Eaton Corporation, PLC (NYSE:ETN) Shares Purchased by Larson Financial Group LLC

Larson Financial Group LLC raised its stake in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 9.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,521 shares of the industrial products company's stock after purchasing an additional 1,278 shares during the quarter. Larson Financial Group LLC's holdings in Eaton were worth $4,219,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of ETN. Wealthfront Advisers LLC boosted its stake in shares of Eaton by 10.7% in the first quarter. Wealthfront Advisers LLC now owns 50,994 shares of the industrial products company's stock valued at $13,862,000 after buying an additional 4,940 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Eaton by 3.3% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 109,466 shares of the industrial products company's stock valued at $29,755,000 after buying an additional 3,502 shares in the last quarter. Whittier Trust Co. boosted its stake in shares of Eaton by 1.1% in the first quarter. Whittier Trust Co. now owns 256,637 shares of the industrial products company's stock valued at $69,758,000 after buying an additional 2,904 shares in the last quarter. Prevail Innovative Wealth Advisors LLC purchased a new stake in shares of Eaton in the first quarter valued at approximately $3,547,000. Finally, Graybill Wealth Management LTD. purchased a new stake in shares of Eaton in the first quarter valued at approximately $41,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Michael Yelton sold 2,120 shares of Eaton 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 sale, the insider directly 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 SEC, which is available through this hyperlink. 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 a total of 156,660 shares of company stock valued at $49,622,894 in the last 90 days. Insiders own 0.30% of the company's stock.

Eaton Trading Up 0.5%

ETN stock traded up $1.89 during trading on Tuesday, reaching $362.18. 2,060,633 shares of the stock traded hands, compared to its average volume of 2,670,654. The business's 50 day moving average price is $333.96 and its 200-day moving average price is $313.47. Eaton Corporation, PLC has a 52-week low of $231.85 and a 52-week high of $379.99. 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 $141.72 billion, a PE ratio of 36.55, a P/E/G ratio of 2.72 and a beta of 1.17.

Eaton (NYSE:ETN - Get Free Report) last released its quarterly earnings results 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. Eaton had a return on equity of 23.41% and a net margin of 15.55%. The business had revenue of $6.38 billion for the quarter, compared to analysts' expectations of $6.26 billion. During the same quarter in the previous year, the firm posted $2.40 earnings per share. The company's revenue was up 7.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Eaton Corporation, PLC will post 12.02 earnings per share for the current year.

Eaton Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 1.15%. The ex-dividend date was Monday, May 5th. Eaton's payout ratio is currently 41.98%.

Analyst Upgrades and Downgrades

ETN has been the subject of several research reports. Barclays lifted their price objective on Eaton from $323.00 to $340.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 9th. Wells Fargo & Company boosted their price target on Eaton from $310.00 to $360.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 1st. BNP Paribas initiated coverage on Eaton in a report on Thursday, May 15th. They issued an "outperform" rating and a $380.00 price target for the company. JPMorgan Chase & Co. boosted their price target 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 raised Eaton from a "hold" rating to a "buy" rating in a report on Saturday, July 5th. Six equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $377.89.

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.