Eaton Co. plc (NYSE:ETN) Shares Acquired by New England Research & Management Inc.

New England Research & Management Inc. lifted its position in Eaton Co. plc (NYSE:ETN - Free Report) by 61.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,944 shares of the industrial products company's stock after buying an additional 1,875 shares during the quarter. New England Research & Management Inc.'s holdings in Eaton were worth $1,344,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Norden Group LLC boosted its holdings in shares of Eaton by 3.4% during the 4th quarter. Norden Group LLC now owns 978 shares of the industrial products company's stock valued at $325,000 after purchasing an additional 32 shares during the last quarter. Nwam LLC increased its holdings in shares of Eaton by 0.6% in the fourth quarter. Nwam LLC now owns 5,314 shares of the industrial products company's stock worth $1,764,000 after purchasing an additional 34 shares during the last quarter. Founders Financial Alliance LLC raised its holdings in shares of Eaton by 0.7% during the 4th quarter. Founders Financial Alliance LLC now owns 5,415 shares of the industrial products company's stock worth $1,797,000 after acquiring an additional 35 shares in the last quarter. Sound View Wealth Advisors Group LLC raised its stake in Eaton by 1.1% during the fourth quarter. Sound View Wealth Advisors Group LLC now owns 3,587 shares of the industrial products company's stock valued at $1,190,000 after purchasing an additional 38 shares in the last quarter. Finally, Lantern Wealth Advisors LLC lifted its holdings in shares of Eaton by 1.0% in the 4th quarter. Lantern Wealth Advisors LLC now owns 4,038 shares of the industrial products company's stock valued at $1,340,000 after acquiring an additional 38 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Craig Arnold sold 51,054 shares of the company's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $305.43, for a total transaction of $15,593,423.22. Following the transaction, the insider now directly owns 489,444 shares of the company's stock, valued at $149,490,880.92. This represents a 9.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 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 sale, the insider now owns 3,382 shares in the company, valued at $1,004,014.34. The trade was a 38.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 156,660 shares of company stock worth $49,622,894 in the last 90 days. 0.30% of the stock is owned by corporate insiders.

Eaton Stock Up 4.4%

NYSE ETN traded up $14.29 during midday trading on Monday, hitting $337.95. 3,392,790 shares of the company traded hands, compared to its average volume of 2,646,436. Eaton Co. plc has a 52 week low of $231.85 and a 52 week high of $379.99. The company's 50-day simple moving average is $306.54 and its 200-day simple moving average is $313.96. The company has a market cap of $132.24 billion, a PE ratio of 35.57, a price-to-earnings-growth ratio of 2.64 and a beta of 1.16. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96.

Eaton (NYSE:ETN - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The industrial products company reported $2.72 earnings per share for the quarter, topping analysts' consensus estimates of $2.70 by $0.02. Eaton had a return on equity of 22.62% and a net margin of 15.25%. The firm had revenue of $6.38 billion during the quarter, compared to analysts' expectations of $6.26 billion. During the same period in the prior year, the business posted $2.40 EPS. The firm's quarterly revenue was up 7.3% on a year-over-year basis. As a group, equities research analysts forecast that Eaton Co. 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 1.23%. The ex-dividend date of this dividend was Monday, May 5th. Eaton's payout ratio is currently 41.98%.

Analyst Ratings Changes

Several research firms have commented on ETN. Jefferies Financial Group dropped their price objective on shares of Eaton from $390.00 to $335.00 and set a "buy" rating for the company in a research note on Wednesday, March 12th. BNP Paribas assumed coverage on Eaton in a research note on Thursday, May 15th. They set an "outperform" rating and a $380.00 target price on the stock. Evercore ISI upped their price objective on Eaton from $326.00 to $349.00 and gave the company an "in-line" rating in a research report on Monday, May 19th. Barclays boosted their target price on shares of Eaton from $306.00 to $323.00 and gave the company an "equal weight" rating in a research note on Monday, June 9th. Finally, Royal Bank of Canada raised their price target on shares of Eaton from $336.00 to $356.00 and gave the stock an "outperform" rating in a research note on Monday, May 5th. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to data from MarketBeat, Eaton has an average rating of "Moderate Buy" and a consensus price target of $368.78.

Eaton 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.