Marks Group Wealth Management Inc grew its position in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 8.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,599 shares of the industrial products company's stock after purchasing an additional 2,286 shares during the period. Marks Group Wealth Management Inc's holdings in Eaton were worth $8,318,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC boosted its position in Eaton by 0.7% in the 1st quarter. GAMMA Investing LLC now owns 13,219 shares of the industrial products company's stock valued at $3,593,000 after buying an additional 96 shares during the last quarter. Bearing Point Capital LLC purchased a new position in Eaton in the fourth quarter valued at about $2,713,000. Brighton Jones LLC grew its stake in Eaton by 4.9% during the 1st quarter. Brighton Jones LLC now owns 3,505 shares of the industrial products company's stock valued at $953,000 after purchasing an additional 164 shares in the last quarter. Kennebec Savings Bank grew its stake in Eaton by 5.4% during the 1st quarter. Kennebec Savings Bank now owns 2,715 shares of the industrial products company's stock valued at $738,000 after purchasing an additional 139 shares in the last quarter. Finally, American National Bank & Trust increased its holdings in Eaton by 5.4% during the 1st quarter. American National Bank & Trust now owns 3,145 shares of the industrial products company's stock worth $855,000 after purchasing an additional 162 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In related news, insider Michael Yelton sold 2,120 shares of the 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 owned 3,382 shares of the company's stock, valued at $1,004,014.34. This trade represents a 38.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $33,400,106.50. Following the transaction, the insider directly owned 490,208 shares of the company's stock, valued at $158,214,632. The trade was a 17.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 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 Stock Performance
NYSE ETN traded up $3.03 during trading hours on Friday, reaching $360.67. The company's stock had a trading volume of 1,697,991 shares, compared to its average volume of 2,674,048. The stock has a market cap of $141.13 billion, a PE ratio of 36.39, a PEG ratio of 2.72 and a beta of 1.17. The business has a 50-day simple moving average of $332.74 and a 200 day simple moving average of $313.48. Eaton Corporation, PLC has a 52 week low of $231.85 and a 52 week high of $379.99. The company has a current ratio of 1.31, a quick ratio of 0.84 and a debt-to-equity ratio of 0.41.
Eaton (NYSE:ETN - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.70 by $0.02. The business 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 business's revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the business posted $2.40 EPS. Equities research analysts predict that Eaton Corporation, PLC will post 12.02 earnings per share for the current fiscal year.
Eaton Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 5th were issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 1.15%. The ex-dividend date was Monday, May 5th. Eaton's dividend payout ratio (DPR) is 41.98%.
Analysts Set New Price Targets
ETN has been the subject of several research analyst reports. Evercore ISI increased their target price on Eaton from $326.00 to $349.00 and gave the company an "in-line" rating in a research note on Monday, May 19th. Wells Fargo & Company upped their price target on shares of Eaton from $310.00 to $360.00 and gave the company an "equal weight" rating in a report on Tuesday, July 1st. BNP Paribas Exane began coverage on shares of Eaton in a research note on Thursday, May 15th. They set an "outperform" rating and a $380.00 price objective on the stock. Citigroup raised their price objective on shares of Eaton from $323.00 to $351.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Finally, JPMorgan Chase & Co. upped their target price 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. Six research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $370.63.
Check Out Our Latest Analysis on Eaton
Eaton Company Profile
(
Free Report)
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.
Further Reading
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