Miller Financial Services LLC Purchases 16,457 Shares of Eaton Corporation, PLC (NYSE:ETN)

Miller Financial Services LLC increased its stake in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 318.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,627 shares of the industrial products company's stock after acquiring an additional 16,457 shares during the period. Eaton comprises 8.4% of Miller Financial Services LLC's holdings, making the stock its largest position. Miller Financial Services LLC's holdings in Eaton were worth $5,879,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in shares of Eaton by 0.7% in the 1st quarter. GAMMA Investing LLC now owns 13,219 shares of the industrial products company's stock worth $3,593,000 after acquiring an additional 96 shares during the last quarter. Bearing Point Capital LLC acquired a new stake in shares of Eaton during the fourth quarter worth about $2,713,000. Brighton Jones LLC lifted its position in shares of Eaton by 4.9% during the first quarter. Brighton Jones LLC now owns 3,505 shares of the industrial products company's stock worth $953,000 after purchasing an additional 164 shares in the last quarter. Kennebec Savings Bank lifted its position in shares of Eaton by 5.4% during the first quarter. Kennebec Savings Bank now owns 2,715 shares of the industrial products company's stock worth $738,000 after purchasing an additional 139 shares in the last quarter. Finally, American National Bank & Trust lifted its stake in Eaton by 5.4% in the first quarter. American National Bank & Trust now owns 3,145 shares of the industrial products company's stock worth $855,000 after acquiring an additional 162 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

Eaton Trading Up 1.0%

Shares of NYSE ETN traded up $3.77 on Thursday, reaching $384.01. 674,361 shares of the company traded hands, compared to its average volume of 3,074,626. Eaton Corporation, PLC has a fifty-two week low of $231.85 and a fifty-two week high of $385.80. The company has a 50 day moving average of $342.17 and a 200 day moving average of $315.63. 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 market capitalization of $150.26 billion, a PE ratio of 38.75, a P/E/G ratio of 2.81 and a beta of 1.17.

Eaton (NYSE:ETN - Get Free Report) last issued its earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share (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 business had revenue of $6.38 billion during the quarter, compared to analysts' expectations of $6.26 billion. During the same quarter in the previous year, the business earned $2.40 EPS. The company's revenue for the quarter was up 7.3% on a year-over-year basis. On average, equities research analysts forecast that Eaton Corporation, PLC will post 12.02 earnings per share for the current fiscal year.

Eaton Dividend Announcement

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 issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 1.08%. Eaton's dividend payout ratio is presently 41.98%.

Wall Street Analyst Weigh In

ETN has been the subject of a number of recent research reports. Barclays lifted their price target on shares of Eaton from $323.00 to $340.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 9th. JPMorgan Chase & Co. lifted their target price on shares of Eaton from $300.00 to $360.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Royal Bank Of Canada lifted their price objective on shares of Eaton from $336.00 to $356.00 and gave the company an "outperform" rating in a research report on Monday, May 5th. BNP Paribas Exane began coverage on shares of Eaton in a research report on Thursday, May 15th. They issued an "outperform" rating and a $380.00 price objective on the stock. Finally, Citigroup boosted their target price on shares of Eaton from $351.00 to $420.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. Six analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, Eaton has an average rating of "Moderate Buy" and an average price target of $377.89.

Insider Buying and Selling

In other Eaton news, insider Craig Arnold sold 103,486 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $322.75, for a total value of $33,400,106.50. Following the completion of the transaction, the insider owned 490,208 shares in the company, valued at $158,214,632. This represents a 17.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael Yelton sold 2,120 shares of the stock in a transaction that occurred 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 owned 3,382 shares of the company's stock, valued at approximately $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. In the last 90 days, insiders sold 156,660 shares of company stock valued at $49,622,894. 0.30% of the stock is owned by company insiders.

Eaton Company 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.