Eaton Corporation, PLC (NYSE:ETN) Shares Purchased by Private Advisor Group LLC

Private Advisor Group LLC boosted its position in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 8.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 43,354 shares of the industrial products company's stock after purchasing an additional 3,333 shares during the period. Private Advisor Group LLC's holdings in Eaton were worth $11,785,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in ETN. Capital A Wealth Management LLC bought a new stake in Eaton in the fourth quarter worth about $26,000. Creative Financial Designs Inc. ADV lifted its stake in Eaton by 102.0% in the first quarter. Creative Financial Designs Inc. ADV now owns 101 shares of the industrial products company's stock worth $27,000 after purchasing an additional 51 shares during the last quarter. Murphy & Mullick Capital Management Corp bought a new stake in shares of Eaton during the fourth quarter valued at approximately $33,000. Vermillion Wealth Management Inc. purchased a new stake in shares of Eaton in the fourth quarter valued at approximately $33,000. Finally, Abound Wealth Management boosted its holdings in shares of Eaton by 73.8% in the first quarter. Abound Wealth Management now owns 146 shares of the industrial products company's stock valued at $40,000 after purchasing an additional 62 shares during the period. Institutional investors own 82.97% of the company's stock.

Eaton Stock Down 0.5%

ETN stock traded down $1.83 on Friday, hitting $378.89. 2,941,019 shares of the company's stock were exchanged, compared to its average volume of 2,668,275. Eaton Corporation, PLC has a 12-month low of $231.85 and a 12-month high of $384.51. The firm has a 50 day moving average price of $339.29 and a two-hundred day moving average price of $314.69. 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 has a market cap of $148.26 billion, a P/E ratio of 38.23, a price-to-earnings-growth ratio of 2.86 and a beta of 1.17.

Eaton (NYSE:ETN - Get Free Report) last announced its earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share 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 firm had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.26 billion. During the same period in the previous year, the business earned $2.40 EPS. The firm's revenue for the quarter was up 7.3% on a year-over-year basis. As a group, equities research analysts expect that Eaton Corporation, PLC will post 12.02 EPS for the current fiscal year.

Eaton Dividend Announcement

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

Insider Buying and Selling at Eaton

In related news, insider Michael Yelton sold 2,120 shares of the company's stock in a transaction 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 transaction, the insider directly owned 3,382 shares of the company's stock, valued at $1,004,014.34. This represents a 38.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Craig Arnold sold 103,486 shares of the company's stock in a transaction 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 completion of the transaction, 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 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. 0.30% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on ETN. Morgan Stanley lowered their price target on Eaton from $385.00 to $375.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. BNP Paribas Exane began coverage on Eaton in a report on Thursday, May 15th. They issued an "outperform" rating and a $380.00 price target for the company. Sanford C. Bernstein reiterated an "outperform" rating and issued a $396.00 price target on shares of Eaton in a report on Monday, July 14th. Citigroup boosted their price target on Eaton from $351.00 to $420.00 and gave the company a "buy" rating in a report on Monday, July 14th. Finally, Royal Bank Of Canada boosted their price target on Eaton from $336.00 to $356.00 and gave the company an "outperform" rating in a report on Monday, May 5th. Six equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $377.89.

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.