Prevail Innovative Wealth Advisors LLC Makes New $3.55 Million Investment in Eaton Corporation, PLC (NYSE:ETN)

Prevail Innovative Wealth Advisors LLC bought a new position in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 13,047 shares of the industrial products company's stock, valued at approximately $3,547,000.

Other large investors also recently modified their holdings of the company. Brighton Jones LLC increased its holdings in Eaton by 1.4% during the 4th quarter. Brighton Jones LLC now owns 3,341 shares of the industrial products company's stock worth $1,109,000 after purchasing an additional 45 shares in the last quarter. Revolve Wealth Partners LLC grew its holdings in Eaton by 17.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 913 shares of the industrial products company's stock worth $303,000 after buying an additional 136 shares in the last quarter. Bank Pictet & Cie Europe AG purchased a new stake in Eaton in the 4th quarter valued at $42,839,000. Proficio Capital Partners LLC lifted its stake in Eaton by 27.6% during the 4th quarter. Proficio Capital Partners LLC now owns 2,207 shares of the industrial products company's stock valued at $732,000 after acquiring an additional 478 shares in the last quarter. Finally, Choate Investment Advisors boosted its holdings in Eaton by 8.3% during the 4th quarter. Choate Investment Advisors now owns 3,975 shares of the industrial products company's stock worth $1,319,000 after acquiring an additional 305 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Eaton

In related news, insider Craig Arnold sold 103,486 shares of the business's 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 completion of the transaction, the insider directly owned 490,208 shares in the company, valued at $158,214,632. The trade was a 17.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 transaction, the insider directly owned 3,382 shares of the company's stock, 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. Over the last three months, insiders sold 156,660 shares of company stock valued at $49,622,894. Insiders own 0.30% of the company's stock.

Eaton Stock Performance

Shares of Eaton stock traded up $1.89 during trading hours on Tuesday, reaching $362.18. The company had a trading volume of 2,060,633 shares, compared to its average volume of 2,670,654. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.31 and a quick ratio of 0.84. Eaton Corporation, PLC has a one year low of $231.85 and a one year high of $379.99. The firm has a market cap of $141.72 billion, a PE ratio of 36.55, a price-to-earnings-growth ratio of 2.72 and a beta of 1.17. The business has a fifty day simple moving average of $333.96 and a 200 day simple moving average of $313.47.

Eaton (NYSE:ETN - Get Free Report) last issued its earnings results on Friday, May 2nd. The industrial products company reported $2.72 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $6.26 billion. During the same quarter last year, the company earned $2.40 EPS. The firm's revenue was up 7.3% compared to the same quarter last year. On average, analysts anticipate that Eaton Corporation, PLC will post 12.02 earnings per share for the current fiscal year.

Eaton Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders 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 was Monday, May 5th. Eaton's dividend payout ratio is presently 41.98%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Evercore ISI upped their price objective on shares of Eaton from $326.00 to $349.00 and gave the stock an "in-line" rating in a research report on Monday, May 19th. BNP Paribas Exane began coverage on Eaton in a report on Thursday, May 15th. They set an "outperform" rating and a $380.00 price target on the stock. Royal Bank Of Canada upped their price objective on Eaton from $336.00 to $356.00 and gave the company an "outperform" rating in a research note on Monday, May 5th. Barclays lifted their target price on Eaton from $323.00 to $340.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 9th. Finally, KeyCorp increased their price target on shares of Eaton from $355.00 to $410.00 and gave the company an "overweight" rating in a research report on Tuesday. Six analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $377.89.

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.