Eaton Corporation, PLC (NYSE:ETN) Shares Purchased by Principle Wealth Partners LLC

Principle Wealth Partners LLC grew its holdings in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 10.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,729 shares of the industrial products company's stock after purchasing an additional 660 shares during the quarter. Principle Wealth Partners LLC's holdings in Eaton were worth $1,829,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. IMA Advisory Services Inc. bought a new position in shares of Eaton in the first quarter valued at approximately $25,000. Capital A Wealth Management LLC acquired a new position in shares of Eaton in the 4th quarter valued at $26,000. Creative Financial Designs Inc. ADV lifted its position in Eaton by 102.0% in the 1st 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 in the last quarter. Murphy & Mullick Capital Management Corp bought a new stake in Eaton during the 4th quarter worth about $33,000. Finally, Vermillion Wealth Management Inc. bought a new stake in Eaton during the 4th quarter worth about $33,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Eaton news, insider Craig Arnold sold 103,486 shares of the business's stock in a transaction on Monday, May 12th. The shares were 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 in the company, valued at approximately $158,214,632. The trade was a 17.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael Yelton sold 2,120 shares of the business's stock in a transaction 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 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. Over the last 90 days, insiders have sold 156,660 shares of company stock worth $49,622,894. Insiders own 0.30% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on ETN shares. JPMorgan Chase & Co. upped their price target on shares of Eaton from $300.00 to $360.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Evercore ISI lifted their price target on shares of Eaton from $326.00 to $349.00 and gave the stock an "in-line" rating in a report on Monday, May 19th. The Goldman Sachs Group lifted their target price on shares of Eaton from $345.00 to $382.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Citigroup boosted their target price on shares of Eaton from $351.00 to $420.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. Finally, Sanford C. Bernstein restated an "outperform" rating and set a $396.00 price target on shares of Eaton in a report on Monday, July 14th. Six research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $377.89.

Eaton Stock Performance

Shares of NYSE:ETN traded up $0.85 during trading on Monday, hitting $393.02. 1,216,828 shares of the stock traded hands, compared to its average volume of 3,061,378. The company has a market cap of $153.79 billion, a price-to-earnings ratio of 39.61, a P/E/G ratio of 2.96 and a beta of 1.17. The company has a fifty day moving average price of $344.57 and a two-hundred day moving average price of $315.82. The company has a quick ratio of 0.84, a current ratio of 1.31 and a debt-to-equity ratio of 0.41. Eaton Corporation, PLC has a 52-week low of $231.85 and a 52-week high of $399.56.

Eaton (NYSE:ETN - Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The industrial products company reported $2.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analyst estimates of $6.26 billion. During the same quarter in the prior year, the firm posted $2.40 earnings per share. Eaton's quarterly revenue was up 7.3% on a year-over-year basis. As a group, equities analysts predict that Eaton Corporation, PLC will post 12.02 EPS for the current year.

Eaton Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Thursday, August 7th will be issued a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, August 7th. This represents a $4.16 dividend on an annualized basis and a yield of 1.06%. Eaton's payout ratio is currently 41.98%.

About Eaton

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.