Moran Wealth Management LLC Has $17.82 Million Stock Position in Eaton Corporation, PLC (NYSE:ETN)

Moran Wealth Management LLC cut its stake in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 1.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 65,553 shares of the industrial products company's stock after selling 958 shares during the period. Moran Wealth Management LLC's holdings in Eaton were worth $17,819,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC boosted its stake in Eaton by 1.4% during the 4th quarter. Brighton Jones LLC now owns 3,341 shares of the industrial products company's stock worth $1,109,000 after acquiring an additional 45 shares during the last quarter. Revolve Wealth Partners LLC raised its holdings in Eaton by 17.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 913 shares of the industrial products company's stock worth $303,000 after purchasing an additional 136 shares during the period. Bank Pictet & Cie Europe AG acquired a new position in shares of Eaton in the 4th quarter valued at $42,839,000. Wealthspire Advisors LLC increased its position in shares of Eaton by 3.1% in the 4th quarter. Wealthspire Advisors LLC now owns 8,724 shares of the industrial products company's stock valued at $2,895,000 after buying an additional 261 shares in the last quarter. Finally, Howard Capital Management Inc. raised its stake in Eaton by 8.1% during the 4th quarter. Howard Capital Management Inc. now owns 2,525 shares of the industrial products company's stock worth $838,000 after buying an additional 189 shares during the period. Institutional investors own 82.97% of the company's stock.

Insider Activity

In related news, insider Craig Arnold sold 103,486 shares of Eaton 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 completion of the sale, the insider now owns 490,208 shares of the company's stock, valued at approximately $158,214,632. The trade was a 17.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Michael Yelton sold 2,120 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total transaction of $629,364.40. Following the sale, the insider now owns 3,382 shares of the company's stock, valued at $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. Insiders sold a total of 156,660 shares of company stock valued at $49,622,894 over the last three months. Insiders own 0.30% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on ETN shares. JPMorgan Chase & Co. boosted their target price on Eaton from $300.00 to $360.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. BNP Paribas Exane initiated coverage on Eaton in a research note on Thursday, May 15th. They set an "outperform" rating and a $380.00 target price for the company. Wall Street Zen raised shares of Eaton from a "hold" rating to a "buy" rating in a research note on Sunday, May 18th. Royal Bank Of Canada increased their price objective on shares of Eaton from $336.00 to $356.00 and gave the stock an "outperform" rating in a research report on Monday, May 5th. Finally, KeyCorp raised their price objective on shares of Eaton from $325.00 to $355.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $368.78.

Eaton Stock Up 3.2%

Shares of Eaton stock traded up $10.60 on Tuesday, reaching $343.55. 2,977,606 shares of the company were exchanged, compared to its average volume of 3,252,927. The company has a market capitalization of $134.43 billion, a price-to-earnings ratio of 34.67, a PEG ratio of 2.57 and a beta of 1.16. 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 Corporation, PLC has a one year low of $231.85 and a one year high of $379.99. The company has a 50-day moving average of $311.91 and a 200 day moving average of $312.55.

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

Eaton Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend was Monday, May 5th. Eaton's dividend payout ratio (DPR) is presently 41.98%.

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.