PICTET BANK & TRUST Ltd Has $1.45 Million Stock Holdings in Eaton Corporation, PLC (NYSE:ETN)

PICTET BANK & TRUST Ltd increased its position in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 32.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,345 shares of the industrial products company's stock after purchasing an additional 1,311 shares during the quarter. Eaton makes up 1.8% of PICTET BANK & TRUST Ltd's portfolio, making the stock its 21st largest holding. PICTET BANK & TRUST Ltd's holdings in Eaton were worth $1,453,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in ETN. Capital A Wealth Management LLC bought a new stake in Eaton in the fourth quarter valued at $26,000. Flagship Wealth Advisors LLC bought a new position in Eaton in the 4th quarter worth approximately $27,000. Creative Financial Designs Inc. ADV lifted its stake in shares of Eaton by 102.0% during the first quarter. Creative Financial Designs Inc. ADV now owns 101 shares of the industrial products company's stock valued at $27,000 after acquiring an additional 51 shares during the period. Murphy & Mullick Capital Management Corp bought a new position in shares of Eaton in the 4th quarter valued at about $33,000. Finally, Vermillion Wealth Management Inc. bought a new position in Eaton in the fourth quarter valued at approximately $33,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on ETN shares. Citigroup upped their price target on Eaton from $323.00 to $351.00 and gave the company a "buy" rating in a research note on Monday, May 5th. BNP Paribas Exane assumed coverage on Eaton in a research report on Thursday, May 15th. They set an "outperform" rating and a $380.00 price objective for the company. KeyCorp lifted their price target on shares of Eaton from $325.00 to $355.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Wall Street Zen raised Eaton from a "hold" rating to a "buy" rating in a report on Sunday, May 18th. Finally, Barclays lifted their price target on Eaton from $306.00 to $323.00 and gave the stock an "equal weight" rating in a report on Monday, June 9th. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $369.06.

Insiders Place Their Bets

In other news, insider Craig Arnold sold 103,486 shares of Eaton stock in a transaction dated 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 transaction of $629,364.40. Following the sale, the insider directly owned 3,382 shares in the company, valued at $1,004,014.34. The trade was a 38.53% 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 over the last quarter. 0.30% of the stock is owned by corporate insiders.

Eaton Price Performance

Shares of ETN stock traded up $3.79 during trading 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 firm has a market capitalization of $141.64 billion, a P/E ratio of 36.53, a price-to-earnings-growth ratio of 2.70 and a beta of 1.17. Eaton Corporation, PLC has a one year low of $231.85 and a one year high of $379.99. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.84 and a current ratio of 1.31. The stock's 50-day moving average price is $324.90 and its 200 day moving average price is $312.84.

Eaton (NYSE:ETN - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share (EPS) for the quarter, topping 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 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 business posted $2.40 EPS. The firm's revenue for the quarter was up 7.3% on a year-over-year basis. Equities analysts expect that Eaton Corporation, PLC will post 12.02 EPS for the current fiscal year.

Eaton Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were paid a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend was Monday, May 5th. Eaton's payout ratio is 41.98%.

Eaton Company 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.