Peterson Wealth Services raised its position in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 8.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,331 shares of the industrial products company's stock after buying an additional 707 shares during the quarter. Peterson Wealth Services' holdings in Eaton were worth $2,536,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Checchi Capital Advisers LLC increased its holdings in shares of Eaton by 0.7% during the first quarter. Checchi Capital Advisers LLC now owns 5,071 shares of the industrial products company's stock valued at $1,378,000 after acquiring an additional 37 shares in the last quarter. Lantern Wealth Advisors LLC boosted its position in Eaton by 1.0% in the fourth quarter. Lantern Wealth Advisors LLC now owns 4,038 shares of the industrial products company's stock worth $1,340,000 after purchasing an additional 38 shares during the last quarter. AGH Wealth Advisors LLC lifted its position in shares of Eaton by 2.6% during the 1st quarter. AGH Wealth Advisors LLC now owns 1,517 shares of the industrial products company's stock valued at $412,000 after buying an additional 38 shares during the last quarter. Revolve Wealth Partners LLC lifted its position in shares of Eaton by 4.2% during the 1st quarter. Revolve Wealth Partners LLC now owns 951 shares of the industrial products company's stock valued at $259,000 after buying an additional 38 shares during the last quarter. Finally, Tritonpoint Wealth LLC raised its stake in shares of Eaton by 3.9% during the 1st quarter. Tritonpoint Wealth LLC now owns 1,038 shares of the industrial products company's stock valued at $282,000 after purchasing an additional 39 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at Eaton
In other news, insider Michael Yelton sold 2,120 shares of Eaton stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total transaction of $629,364.40. Following the completion of the sale, the insider directly owned 3,382 shares of the company's stock, valued at approximately $1,004,014.34. The trade was a 38.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 of the company's stock, valued at approximately $158,214,632. This trade represents a 17.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 156,660 shares of company stock valued at $49,622,894 in the last three months. 0.30% of the stock is currently owned by corporate insiders.
Eaton Trading Up 1.0%
Eaton stock traded up $3.77 during trading on Thursday, hitting $384.01. The company had a trading volume of 674,361 shares, compared to its average volume of 3,074,626. Eaton Corporation, PLC has a 1-year low of $231.85 and a 1-year high of $385.80. The company has a current ratio of 1.31, a quick ratio of 0.84 and a debt-to-equity ratio of 0.41. The company's 50 day simple moving average is $342.17 and its 200-day simple moving average is $315.63. The stock has a market cap of $150.26 billion, a price-to-earnings ratio of 38.75, a price-to-earnings-growth ratio of 2.81 and a beta of 1.17.
Eaton (NYSE:ETN - Get Free Report) last posted its earnings results 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 net margin of 15.55% and a return on equity of 23.41%. The firm had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.26 billion. During the same quarter last year, the firm earned $2.40 EPS. The firm's revenue for the quarter was up 7.3% on a year-over-year basis. As a group, analysts expect that Eaton Corporation, PLC will post 12.02 EPS for the current fiscal year.
Eaton Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Thursday, August 7th will be given a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 1.08%. Eaton's dividend payout ratio is presently 41.98%.
Wall Street Analyst Weigh In
ETN has been the topic of a number of research analyst reports. Royal Bank Of Canada upped their target price on Eaton from $336.00 to $356.00 and gave the stock an "outperform" rating in a research note on Monday, May 5th. Wall Street Zen raised Eaton from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. Wells Fargo & Company increased their target price on Eaton from $310.00 to $360.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 1st. KeyCorp raised their price objective on Eaton from $355.00 to $410.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. Finally, BNP Paribas Exane began coverage on Eaton in a report on Thursday, May 15th. They issued an "outperform" rating and a $380.00 target price for the company. Six analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $377.89.
Read Our Latest Stock Report on Eaton
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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