Nwam LLC Has $1.71 Million Holdings in Eaton Corporation, PLC (NYSE:ETN)

Nwam LLC boosted its holdings in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 18.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,293 shares of the industrial products company's stock after buying an additional 979 shares during the quarter. Nwam LLC's holdings in Eaton were worth $1,711,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of ETN. Norges Bank acquired a new stake in Eaton in the 4th quarter valued at $1,495,582,000. GAMMA Investing LLC boosted its stake in Eaton by 27,281.9% during the 1st quarter. GAMMA Investing LLC now owns 3,593,321 shares of the industrial products company's stock worth $976,772,000 after purchasing an additional 3,580,198 shares during the last quarter. Capital International Investors acquired a new stake in Eaton during the 4th quarter worth $523,541,000. Leigh Baldwin & CO. LLC acquired a new stake in Eaton during the 4th quarter worth $231,552,000. Finally, Janus Henderson Group PLC boosted its position in shares of Eaton by 24.3% during the 4th quarter. Janus Henderson Group PLC now owns 3,007,570 shares of the industrial products company's stock valued at $998,144,000 after acquiring an additional 588,370 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Eaton Price Performance

NYSE:ETN traded down $1.83 during trading hours on Friday, hitting $378.89. The company's stock had a trading volume of 2,941,019 shares, compared to its average volume of 2,668,275. The business's 50-day moving average is $339.29 and its two-hundred day moving average is $314.69. The company has a market capitalization of $148.26 billion, a PE ratio of 38.23, a PEG ratio of 2.86 and a beta of 1.17. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.84 and a current ratio of 1.31. Eaton Corporation, PLC has a 52-week low of $231.85 and a 52-week high of $384.51.

Eaton (NYSE:ETN - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The industrial products company reported $2.72 EPS for the quarter, beating analysts' consensus estimates of $2.70 by $0.02. Eaton had a return on equity of 23.41% and a net margin of 15.55%. The business had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.26 billion. During the same quarter last year, the company earned $2.40 earnings per share. The business's revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, research analysts anticipate that Eaton Corporation, PLC will post 12.02 EPS for the current fiscal year.

Eaton Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend was Monday, May 5th. Eaton's dividend payout ratio (DPR) is presently 41.98%.

Wall Street Analyst Weigh In

ETN has been the topic of a number of recent research reports. Evercore ISI boosted their price target on shares of Eaton from $326.00 to $349.00 and gave the stock an "in-line" rating in a research note on Monday, May 19th. KeyCorp boosted their price target on shares of Eaton from $355.00 to $410.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. Wall Street Zen upgraded shares of Eaton from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. BNP Paribas assumed coverage on shares of Eaton in a research note on Thursday, May 15th. They set an "outperform" rating and a $380.00 price target on the stock. Finally, The Goldman Sachs Group boosted their price objective on Eaton from $345.00 to $382.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Six research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $377.89.

Insider Activity at Eaton

In other news, insider Michael Yelton sold 2,120 shares of the business'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 value of $629,364.40. Following the completion of the sale, the insider directly owned 3,382 shares in the company, valued at approximately $1,004,014.34. The trade was a 38.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Craig Arnold sold 103,486 shares of the business's stock in a transaction that occurred 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 transaction, the insider owned 490,208 shares of the company's stock, valued at $158,214,632. This represents a 17.43% 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 over the last three months. 0.30% of the stock is currently owned by corporate insiders.

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.