Eaton Co. plc (NYSE:ETN) Shares Purchased by MassMutual Private Wealth & Trust FSB

MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 32.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 39,359 shares of the industrial products company's stock after purchasing an additional 9,615 shares during the period. MassMutual Private Wealth & Trust FSB's holdings in Eaton were worth $10,699,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Bearing Point Capital LLC acquired a new stake in shares of Eaton in the 4th quarter worth $2,713,000. New England Research & Management Inc. lifted its stake in shares of Eaton by 128.3% in the fourth quarter. New England Research & Management Inc. now owns 3,069 shares of the industrial products company's stock valued at $1,019,000 after purchasing an additional 1,725 shares during the period. McAdam LLC acquired a new stake in shares of Eaton in the fourth quarter valued at about $293,000. U.S. Capital Wealth Advisors LLC lifted its stake in shares of Eaton by 256.8% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 57,521 shares of the industrial products company's stock valued at $19,089,000 after purchasing an additional 41,399 shares during the period. Finally, Generate Investment Management Ltd acquired a new stake in shares of Eaton in the fourth quarter valued at about $12,678,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Eaton

In related news, insider Craig Arnold sold 103,486 shares of the business's stock in a transaction that occurred on 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 now directly owns 490,208 shares in the company, valued at approximately $158,214,632. The trade was a 17.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Yelton sold 2,120 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total transaction of $629,364.40. Following the completion of the sale, the insider now owns 3,382 shares of the company's stock, valued at approximately $1,004,014.34. The trade was a 38.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 156,660 shares of company stock worth $49,622,894. 0.30% of the stock is owned by company insiders.

Eaton Trading Down 1.4%

Shares of NYSE ETN traded down $4.46 during midday trading on Friday, reaching $320.35. 3,787,956 shares of the stock were exchanged, compared to its average volume of 2,670,431. The company has a market capitalization of $125.35 billion, a P/E ratio of 33.72, a P/E/G ratio of 2.64 and a beta of 1.14. Eaton Co. plc has a 52-week low of $231.85 and a 52-week high of $379.99. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. The stock has a 50 day moving average price of $293.29 and a 200-day moving average price of $317.53.

Eaton (NYSE:ETN - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.26 billion. Eaton had a net margin of 15.25% and a return on equity of 22.62%. The company's quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.40 earnings per share. Equities research analysts expect that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were issued a $1.04 dividend. The ex-dividend date was Monday, May 5th. This represents a $4.16 dividend on an annualized basis and a yield of 1.30%. Eaton's payout ratio is 41.98%.

Analyst Upgrades and Downgrades

ETN has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their price objective 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. BNP Paribas initiated coverage on shares of Eaton in a research note on Thursday, May 15th. They issued an "outperform" rating and a $380.00 price objective for the company. BNP Paribas Exane initiated coverage on shares of Eaton in a research note on Thursday, May 15th. They issued an "outperform" rating and a $380.00 price objective for the company. Barclays reduced their price objective on shares of Eaton from $315.00 to $306.00 and set an "equal weight" rating for the company in a research note on Friday, April 4th. Finally, Wells Fargo & Company reiterated an "overweight" rating and issued a $355.00 price objective on shares of Eaton in a research note on Monday, May 5th. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to data from MarketBeat, Eaton presently has a consensus rating of "Moderate Buy" and an average target price of $367.83.

About Eaton

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.