Mutual Advisors LLC increased its holdings in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 39.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,233 shares of the industrial products company's stock after buying an additional 2,604 shares during the quarter. Mutual Advisors LLC's holdings in Eaton were worth $2,667,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its position in shares of Eaton by 0.7% during the 1st quarter. GAMMA Investing LLC now owns 13,219 shares of the industrial products company's stock valued at $3,593,000 after purchasing an additional 96 shares in the last quarter. Bearing Point Capital LLC purchased a new position in Eaton in the 4th quarter worth about $2,713,000. Brighton Jones LLC boosted its holdings in shares of Eaton by 4.9% in the first quarter. Brighton Jones LLC now owns 3,505 shares of the industrial products company's stock worth $953,000 after buying an additional 164 shares during the period. Kennebec Savings Bank raised its holdings 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 valued at $738,000 after acquiring an additional 139 shares during the period. Finally, American National Bank & Trust boosted its stake in Eaton by 5.4% in the 1st quarter. American National Bank & Trust now owns 3,145 shares of the industrial products company's stock worth $855,000 after purchasing an additional 162 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.
Eaton Stock Up 1.1%
Shares of Eaton stock traded up $3.79 on Friday, hitting $361.98. The company had a trading volume of 1,088,135 shares, compared to its average volume of 2,664,244. The stock has a 50-day moving average of $324.90 and a 200-day moving average of $312.84. The firm has a market capitalization of $141.64 billion, a P/E ratio of 36.53, a P/E/G ratio of 2.70 and a beta of 1.17. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.31 and a quick ratio of 0.84. Eaton Corporation, PLC has a twelve month low of $231.85 and a twelve month high of $379.99.
Eaton (NYSE:ETN - Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The industrial products company reported $2.72 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $6.26 billion. During the same quarter last year, the company earned $2.40 EPS. Eaton's revenue for the quarter was up 7.3% compared to the same quarter last year. Research analysts predict that Eaton Corporation, PLC will post 12.02 earnings per share for the current year.
Eaton Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 5th were given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date was Monday, May 5th. Eaton's dividend payout ratio (DPR) is presently 41.98%.
Insider Buying and Selling
In related news, insider Michael Yelton sold 2,120 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total value of $629,364.40. Following the sale, the insider owned 3,382 shares in the company, valued at approximately $1,004,014.34. This represents a 38.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Craig Arnold sold 103,486 shares of the company's stock in a transaction 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 transaction, the insider directly owned 490,208 shares in the company, valued at approximately $158,214,632. This represents a 17.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 156,660 shares of company stock worth $49,622,894. Company insiders own 0.30% of the company's stock.
Wall Street Analyst Weigh In
ETN has been the topic of a number of research analyst reports. Jefferies Financial Group lowered their price objective 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. Evercore ISI upped their price objective on shares of Eaton from $326.00 to $349.00 and gave the stock an "in-line" rating in a report on Monday, May 19th. BNP Paribas Exane assumed coverage on Eaton in a research report on Thursday, May 15th. They set an "outperform" rating and a $380.00 target price for the company. Barclays upped their price objective on shares of Eaton from $306.00 to $323.00 and gave the stock an "equal weight" rating in a report on Monday, June 9th. Finally, BNP Paribas assumed coverage on Eaton in a research note on Thursday, May 15th. They issued an "outperform" rating and a $380.00 price objective on the stock. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Eaton currently has a consensus rating of "Moderate Buy" and an average target price of $369.06.
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About Eaton
(
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.
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