12,600 Shares in Eaton Corporation, PLC (NYSE:ETN) Purchased by Lockheed Martin Investment Management Co.

Key Points

• Lockheed Martin Investment Management Co. invested approximately $3.43 million in Eaton Corporation by acquiring 12,600 shares in the first quarter of the year.
• Insider Craig Arnold sold 103,486 shares of Eaton at an average price of $322.75, resulting in a transaction value of over $33 million and a 17.43% decrease in his ownership.
• Eaton recently announced a quarterly dividend of $1.04 per share, reflecting an annualized dividend of $4.16 and a dividend yield of 1.1%.

Lockheed Martin Investment Management Co. acquired a new stake in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,600 shares of the industrial products company's stock, valued at approximately $3,425,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nuveen LLC purchased a new position in shares of Eaton during the first quarter valued at about $1,472,231,000. Advent Capital Management DE purchased a new position in shares of Eaton during the first quarter valued at about $2,718,000. Cooper Financial Group increased its position in shares of Eaton by 31.2% during the first quarter. Cooper Financial Group now owns 5,984 shares of the industrial products company's stock valued at $1,627,000 after buying an additional 1,422 shares during the period. Invesco Ltd. increased its position in shares of Eaton by 15.8% during the first quarter. Invesco Ltd. now owns 3,913,209 shares of the industrial products company's stock valued at $1,063,727,000 after buying an additional 533,774 shares during the period. Finally, Berger Financial Group Inc increased its position in shares of Eaton by 11.6% during the first quarter. Berger Financial Group Inc now owns 1,206 shares of the industrial products company's stock valued at $328,000 after buying an additional 125 shares during the period. 82.97% of the stock is owned by institutional investors.

Insider Activity at Eaton

In other Eaton news, insider Olivier Leonetti sold 16,018 shares of Eaton stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $358.39, for a total value of $5,740,691.02. Following the completion of the transaction, the insider directly owned 630 shares of the company's stock, valued at $225,785.70. This trade represents a 96.22% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.30% of the stock is owned by insiders.

Eaton Price Performance

Shares of ETN stock traded down $5.98 on Wednesday, hitting $357.32. 2,750,710 shares of the stock traded hands, compared to its average volume of 3,073,631. The firm has a market cap of $139.10 billion, a price-to-earnings ratio of 35.95, a PEG ratio of 2.66 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. The firm has a 50 day simple moving average of $356.56 and a two-hundred day simple moving average of $317.90. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.24 and a quick ratio of 0.76.

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

Eaton Announces Dividend

The firm also recently disclosed 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. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Thursday, August 7th. Eaton's dividend payout ratio (DPR) is presently 41.85%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Sanford C. Bernstein restated an "outperform" rating and issued a $396.00 price objective on shares of Eaton in a report on Monday, July 14th. Royal Bank Of Canada upped their price objective on shares of Eaton from $336.00 to $356.00 and gave the stock an "outperform" rating in a report on Monday, May 5th. BNP Paribas assumed coverage on shares of Eaton in a report on Thursday, May 15th. They issued an "outperform" rating and a $380.00 price objective on the stock. Evercore ISI upped their price objective on shares of Eaton from $326.00 to $349.00 and gave the stock an "in-line" rating in a report on Monday, May 19th. Finally, Citigroup upped their price objective on shares of Eaton from $420.00 to $425.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, Eaton has a consensus rating of "Moderate Buy" and a consensus 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.