Mcdaniel Terry & Co. Takes Position in Eaton Corporation, PLC (NYSE:ETN)

Mcdaniel Terry & Co. bought a new position in Eaton Corporation, PLC (NYSE:ETN - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 39,136 shares of the industrial products company's stock, valued at approximately $10,638,000.

Several other hedge funds also recently made changes to their positions in ETN. Capital A Wealth Management LLC bought a new stake in shares of Eaton in the 4th quarter worth approximately $26,000. Flagship Wealth Advisors LLC bought a new stake in shares of Eaton in the 4th quarter worth approximately $27,000. Noble Wealth Management PBC bought a new stake in shares of Eaton in the 4th quarter worth approximately $30,000. Murphy & Mullick Capital Management Corp bought a new stake in shares of Eaton in the 4th quarter worth approximately $33,000. Finally, Vermillion Wealth Management Inc. bought a new stake in shares of Eaton in the 4th quarter worth approximately $33,000. Institutional investors and hedge funds own 82.97% of the company's stock.

Insider Buying and Selling

In other news, insider Craig Arnold sold 103,486 shares of Eaton stock in a transaction on Monday, May 12th. The stock was sold at an average price of $322.75, for a total transaction of $33,400,106.50. Following the transaction, the insider now 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Michael Yelton sold 2,120 shares of Eaton stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total value of $629,364.40. Following the transaction, the insider now owns 3,382 shares in the company, valued at $1,004,014.34. This represents a 38.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 156,660 shares of company stock worth $49,622,894 in the last three months. 0.30% of the stock is currently owned by insiders.

Eaton Price Performance

Shares of ETN traded up $5.60 during midday trading on Friday, reaching $353.74. The stock had a trading volume of 3,704,268 shares, compared to its average volume of 2,665,307. Eaton Corporation, PLC has a 52 week low of $231.85 and a 52 week high of $379.99. 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 firm's 50 day moving average price is $318.04 and its 200-day moving average price is $312.49. The company has a market capitalization of $138.42 billion, a P/E ratio of 35.70, a P/E/G ratio of 2.74 and a beta of 1.16.

Eaton (NYSE:ETN - Get Free Report) last posted 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. Eaton had a return on equity of 23.41% and a net margin of 15.55%. The company had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.26 billion. During the same quarter in the previous year, the business earned $2.40 EPS. The company's quarterly revenue was up 7.3% compared to the same quarter last year. On average, analysts forecast that Eaton Corporation, PLC will post 12.02 earnings per share for the current fiscal year.

Eaton Announces Dividend

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. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date of this dividend was Monday, May 5th. Eaton's payout ratio is 41.98%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. JPMorgan Chase & Co. raised their price target on Eaton from $300.00 to $360.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. BNP Paribas Exane assumed coverage on Eaton in a research note on Thursday, May 15th. They set an "outperform" rating and a $380.00 target price on the stock. Royal Bank Of Canada lifted their target price on Eaton from $336.00 to $356.00 and gave the company an "outperform" rating in a research note on Monday, May 5th. Citigroup lifted their target price on Eaton from $323.00 to $351.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Finally, Wall Street Zen raised Eaton from a "hold" rating to a "buy" rating in a research note on Sunday, May 18th. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, Eaton currently has an average rating of "Moderate Buy" and an average price target of $368.78.

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.