Eaton Corporation, PLC (NYSE:ETN) Shares Bought by Leavell Investment Management Inc.

Leavell Investment Management Inc. grew its holdings in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 6.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,005 shares of the industrial products company's stock after purchasing an additional 737 shares during the period. Leavell Investment Management Inc.'s holdings in Eaton were worth $3,263,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of ETN. Quotient Wealth Partners LLC grew its position in shares of Eaton by 12.4% in the first quarter. Quotient Wealth Partners LLC now owns 1,314 shares of the industrial products company's stock valued at $357,000 after purchasing an additional 145 shares during the last quarter. Banque Pictet & Cie SA raised its stake in shares of Eaton by 28.0% in the first quarter. Banque Pictet & Cie SA now owns 188,589 shares of the industrial products company's stock valued at $51,264,000 after acquiring an additional 41,259 shares during the last quarter. Westbourne Investment Advisors Inc. raised its position in Eaton by 7.5% in the 1st quarter. Westbourne Investment Advisors Inc. now owns 2,068 shares of the industrial products company's stock worth $562,000 after purchasing an additional 145 shares during the last quarter. Rehmann Capital Advisory Group raised its position in Eaton by 4.0% in the 1st quarter. Rehmann Capital Advisory Group now owns 3,393 shares of the industrial products company's stock worth $922,000 after purchasing an additional 132 shares during the last quarter. Finally, Cornerstone Planning Group LLC grew its holdings in Eaton by 79.5% during the 1st quarter. Cornerstone Planning Group LLC now owns 289 shares of the industrial products company's stock worth $80,000 after acquiring an additional 128 shares during the period. Hedge funds and other institutional investors own 82.97% of the company's stock.

Wall Street Analyst Weigh In

ETN has been the subject of a number of research analyst reports. Morgan Stanley reduced their target price on shares of Eaton from $385.00 to $375.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. BNP Paribas began coverage on shares of Eaton in a report on Thursday, May 15th. They issued an "outperform" rating and a $380.00 target price on the stock. BNP Paribas Exane initiated coverage on shares of Eaton in a report on Thursday, May 15th. They issued an "outperform" rating and a $380.00 target price on the stock. JPMorgan Chase & Co. upped their price target on shares of Eaton from $300.00 to $360.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Finally, The Goldman Sachs Group increased their price target on shares of Eaton from $345.00 to $382.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Six investment 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 company currently has an average rating of "Moderate Buy" and an average target price of $370.63.

Eaton Price Performance

ETN traded up $3.03 during trading on Friday, reaching $360.67. 1,697,991 shares of the stock were exchanged, compared to its average volume of 2,674,048. The business's 50 day moving average price is $332.74 and its two-hundred day moving average price is $313.48. 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 company has a market capitalization of $141.13 billion, a price-to-earnings ratio of 36.39, a P/E/G ratio of 2.72 and a beta of 1.17. Eaton Corporation, PLC has a 1 year low of $231.85 and a 1 year high of $379.99.

Eaton (NYSE:ETN - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The industrial products company reported $2.72 EPS for the quarter, topping analysts' consensus estimates of $2.70 by $0.02. The company had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.26 billion. Eaton had a return on equity of 23.41% and a net margin of 15.55%. The company's quarterly revenue was up 7.3% compared to the same quarter last year. During the same period last year, the business posted $2.40 EPS. As a group, equities research analysts anticipate that Eaton Corporation, PLC will post 12.02 earnings per share for the current year.

Eaton Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date of this dividend was Monday, May 5th. Eaton's payout ratio is 41.98%.

Insider Buying and Selling

In other news, 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 value of $33,400,106.50. Following the completion of the sale, the insider owned 490,208 shares of the company's stock, valued at approximately $158,214,632. The trade was a 17.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael Yelton sold 2,120 shares of the business's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total transaction of $629,364.40. Following the completion of the sale, the insider directly owned 3,382 shares of the company's stock, valued at $1,004,014.34. The trade was a 38.53% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 156,660 shares of company stock worth $49,622,894. 0.30% of the stock is currently owned by corporate insiders.

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.