Natural Investments LLC Buys 1,412 Shares of Eaton Corporation, PLC (NYSE:ETN)

Key Points

• Natural Investments LLC increased its stake in Eaton Corporation by 16.8% during Q1, owning 9,792 shares valued at approximately $2.66 million.
• Insider Craig Arnold sold 103,486 shares of Eaton, representing a 17.43% decrease in his ownership, and totaling over $33.4 million in value.
• Analysts have raised their price targets for Eaton, with KeyCorp increasing its target from $355 to $410, indicating strong investor confidence and an overall rating of "Moderate Buy".

Natural Investments LLC increased its holdings in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 16.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,792 shares of the industrial products company's stock after purchasing an additional 1,412 shares during the quarter. Natural Investments LLC's holdings in Eaton were worth $2,661,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Checchi Capital Advisers LLC grew its stake in Eaton by 0.7% during the first quarter. Checchi Capital Advisers LLC now owns 5,071 shares of the industrial products company's stock worth $1,378,000 after buying an additional 37 shares during the last quarter. Lantern Wealth Advisors LLC raised its position in shares of Eaton by 1.0% during the fourth quarter. Lantern Wealth Advisors LLC now owns 4,038 shares of the industrial products company's stock worth $1,340,000 after acquiring an additional 38 shares during the last quarter. AGH Wealth Advisors LLC boosted its stake in shares of Eaton by 2.6% in the 1st quarter. AGH Wealth Advisors LLC now owns 1,517 shares of the industrial products company's stock valued at $412,000 after purchasing an additional 38 shares during the last quarter. Revolve Wealth Partners LLC boosted its stake in Eaton by 4.2% in the first quarter. Revolve Wealth Partners LLC now owns 951 shares of the industrial products company's stock valued at $259,000 after acquiring an additional 38 shares during the last quarter. Finally, Tritonpoint Wealth LLC grew its stake in shares of Eaton by 3.9% during the first quarter. Tritonpoint Wealth LLC now owns 1,038 shares of the industrial products company's stock worth $282,000 after purchasing an additional 39 shares during the period. Hedge funds and other institutional investors own 82.97% of the company's stock.

Insider Buying and Selling at Eaton

In related 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 sale, the insider directly owned 490,208 shares in the company, valued at approximately $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 SEC, which can be accessed through this link. 0.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on ETN shares. Citigroup upped their price objective on shares of Eaton from $420.00 to $425.00 and gave the company a "buy" rating in a research report on Wednesday. The Goldman Sachs Group increased their target price on shares of Eaton from $345.00 to $382.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Barclays boosted their price target on Eaton from $340.00 to $344.00 and gave the stock an "equal weight" rating in a research report on Wednesday. BNP Paribas initiated coverage on shares of Eaton in a research note on Thursday, May 15th. They issued an "outperform" rating and a $380.00 target price for the company. Finally, Wells Fargo & Company lifted their price objective on shares of Eaton from $310.00 to $360.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 1st. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $383.63.

Eaton Stock Up 0.8%

Shares of Eaton stock traded up $2.91 on Friday, hitting $363.07. The company had a trading volume of 2,139,096 shares, compared to its average volume of 2,661,468. Eaton Corporation, PLC has a 1 year low of $231.85 and a 1 year high of $399.56. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.84 and a current ratio of 1.24. The stock has a 50 day moving average of $354.13 and a 200-day moving average of $318.34. The stock has a market capitalization of $141.34 billion, a price-to-earnings ratio of 36.53, a P/E/G ratio of 2.66 and a beta of 1.18.

Eaton (NYSE:ETN - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $2.95 earnings per share for the quarter, beating the consensus estimate of $2.92 by $0.03. The business had revenue of $7.03 billion for the quarter, compared to analysts' expectations of $6.93 billion. Eaton had a return on equity of 23.91% and a net margin of 15.11%. The business's revenue was up 10.7% on a year-over-year basis. During the same period last year, the business earned $2.73 EPS. As a group, sell-side analysts forecast that Eaton Corporation, PLC will post 12.02 earnings per share for the current year.

Eaton Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Thursday, August 7th will be paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Thursday, August 7th. Eaton's payout ratio is presently 41.85%.

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.