MorganRosel Wealth Management LLC boosted its position in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 26.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,783 shares of the industrial products company's stock after purchasing an additional 789 shares during the period. MorganRosel Wealth Management LLC's holdings in Eaton were worth $1,028,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Eaton by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 37,217,906 shares of the industrial products company's stock worth $12,351,506,000 after purchasing an additional 99,291 shares in the last quarter. FMR LLC grew its holdings in Eaton by 1.2% during the 4th quarter. FMR LLC now owns 15,222,248 shares of the industrial products company's stock valued at $5,051,807,000 after buying an additional 182,455 shares during the last quarter. Geode Capital Management LLC increased its position in Eaton by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 8,198,412 shares of the industrial products company's stock worth $2,714,677,000 after buying an additional 129,071 shares in the last quarter. Nuveen Asset Management LLC increased its position in Eaton by 4.3% during the fourth quarter. Nuveen Asset Management LLC now owns 4,671,185 shares of the industrial products company's stock worth $1,550,226,000 after buying an additional 192,482 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Eaton by 8.8% in the fourth quarter. Northern Trust Corp now owns 4,574,704 shares of the industrial products company's stock worth $1,518,207,000 after acquiring an additional 368,241 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Eaton
In other news, insider Craig Arnold sold 103,486 shares of the firm's stock in a transaction dated 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 completion of the sale, the insider directly owned 490,208 shares in the company, valued at $158,214,632. This trade represents a 17.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael Yelton sold 2,120 shares of the business's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total value of $629,364.40. Following the completion of the transaction, the insider owned 3,382 shares in the company, valued at approximately $1,004,014.34. This trade represents a 38.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 156,660 shares of company stock worth $49,622,894 in the last ninety days. 0.30% of the stock is currently owned by insiders.
Eaton Trading Up 0.9%
Shares of ETN stock traded up $3.31 during mid-day trading on Wednesday, reaching $358.35. The company's stock had a trading volume of 1,787,526 shares, compared to its average volume of 2,664,384. The company has a quick ratio of 0.84, a current ratio of 1.31 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $140.22 billion, a PE ratio of 36.16, a price-to-earnings-growth ratio of 2.68 and a beta of 1.17. The company's 50 day simple moving average is $323.41 and its 200-day simple moving average is $312.79. Eaton Corporation, PLC has a 12-month low of $231.85 and a 12-month high of $379.99.
Eaton (NYSE:ETN - Get Free Report) last announced its earnings results on Friday, May 2nd. The industrial products company reported $2.72 EPS for the quarter, beating 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 company's revenue was up 7.3% on a year-over-year basis. During the same period last year, the business posted $2.40 EPS. On average, research analysts predict that Eaton Corporation, PLC will post 12.02 EPS for the current fiscal year.
Eaton Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date was Monday, May 5th. Eaton's payout ratio is 41.98%.
Analyst Ratings Changes
A number of analysts recently commented on the company. JPMorgan Chase & Co. lifted their price objective on Eaton from $300.00 to $360.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. BNP Paribas Exane started coverage on shares of Eaton in a report on Thursday, May 15th. They set an "outperform" rating and a $380.00 price target for the company. BNP Paribas started 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. Jefferies Financial Group decreased their target price on shares of Eaton from $390.00 to $335.00 and set a "buy" rating on the stock in a research report on Wednesday, March 12th. Finally, Citigroup boosted their price target on Eaton from $323.00 to $351.00 and gave the company a "buy" rating in a report on Monday, May 5th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, Eaton presently has an average rating of "Moderate Buy" and a consensus target price of $369.06.
Check Out Our Latest Stock Analysis on ETN
Eaton 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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