Lifeworks Advisors LLC Increases Stock Position in Eaton Corporation, PLC (NYSE:ETN)

Lifeworks Advisors LLC lifted its stake in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 10.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,989 shares of the industrial products company's stock after purchasing an additional 1,072 shares during the quarter. Lifeworks Advisors LLC's holdings in Eaton were worth $2,987,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ETN. Journey Strategic Wealth LLC grew its position in Eaton by 5.3% in the first quarter. Journey Strategic Wealth LLC now owns 1,576 shares of the industrial products company's stock worth $428,000 after buying an additional 79 shares during the last quarter. Kovack Advisors Inc. boosted its holdings in shares of Eaton by 343.6% in the first quarter. Kovack Advisors Inc. now owns 3,021 shares of the industrial products company's stock worth $821,000 after buying an additional 2,340 shares during the period. SFE Investment Counsel increased its position in shares of Eaton by 37.8% in the first quarter. SFE Investment Counsel now owns 12,717 shares of the industrial products company's stock worth $3,457,000 after acquiring an additional 3,490 shares in the last quarter. Carnegie Investment Counsel raised its holdings in shares of Eaton by 8.1% during the first quarter. Carnegie Investment Counsel now owns 191,565 shares of the industrial products company's stock valued at $48,361,000 after acquiring an additional 14,382 shares during the period. Finally, Machina Capital S.A.S. boosted its stake in Eaton by 29.8% in the 1st quarter. Machina Capital S.A.S. now owns 3,902 shares of the industrial products company's stock worth $1,061,000 after purchasing an additional 895 shares during the period. Institutional investors own 82.97% of the company's stock.

Insiders Place Their Bets

In other Eaton news, insider Craig Arnold sold 103,486 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $322.75, for a total transaction of $33,400,106.50. Following the transaction, the insider directly owned 490,208 shares in the company, valued at $158,214,632. This trade represents a 17.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael Yelton sold 2,120 shares of Eaton 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 completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 156,660 shares of company stock worth $49,622,894 in the last three months. Insiders own 0.30% of the company's stock.

Wall Street Analysts Forecast Growth

ETN has been the topic of a number of research analyst reports. Evercore ISI lifted their price target on Eaton from $326.00 to $349.00 and gave the company an "in-line" rating in a report on Monday, May 19th. BNP Paribas initiated coverage on Eaton in a research note on Thursday, May 15th. They set an "outperform" rating and a $380.00 price target for the company. Citigroup increased their price objective on Eaton from $351.00 to $420.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. Morgan Stanley decreased their price objective on shares of Eaton from $385.00 to $375.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. Finally, Royal Bank Of Canada increased their price target on Eaton from $336.00 to $356.00 and gave the stock an "outperform" rating in a report on Monday, May 5th. Six research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to MarketBeat.com, Eaton has an average rating of "Moderate Buy" and an average target price of $377.89.

Eaton Stock Performance

Shares of NYSE ETN traded up $0.44 during midday trading on Monday, hitting $392.61. The company's stock had a trading volume of 1,216,828 shares, compared to its average volume of 3,061,378. The firm has a market capitalization of $153.63 billion, a price-to-earnings ratio of 39.61, a P/E/G ratio of 2.96 and a beta of 1.17. The company has a current ratio of 1.31, a quick ratio of 0.84 and a debt-to-equity ratio of 0.41. The stock has a fifty day moving average price of $344.57 and a 200 day moving average price of $315.82. Eaton Corporation, PLC has a one year low of $231.85 and a one year high of $399.56.

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, beating analysts' consensus estimates of $2.70 by $0.02. The firm had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.26 billion. Eaton had a net margin of 15.55% and a return on equity of 23.41%. The business's revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the previous year, the business earned $2.40 EPS. On average, research analysts forecast that Eaton Corporation, PLC will post 12.02 EPS for the current fiscal year.

Eaton Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Thursday, August 7th will be paid a $1.04 dividend. The ex-dividend date of this dividend is Thursday, August 7th. This represents a $4.16 dividend on an annualized basis and a yield of 1.06%. Eaton's dividend payout ratio is presently 41.98%.

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.