Pure Financial Advisors LLC Buys New Stake in Eaton Corporation, PLC (NYSE:ETN)

Pure Financial Advisors LLC bought a new stake in Eaton Corporation, PLC (NYSE:ETN - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,017 shares of the industrial products company's stock, valued at approximately $277,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ETN. Bearing Point Capital LLC acquired a new stake in Eaton during the fourth quarter valued at approximately $2,713,000. Brighton Jones LLC boosted its holdings in Eaton by 4.9% during the first quarter. Brighton Jones LLC now owns 3,505 shares of the industrial products company's stock valued at $953,000 after purchasing an additional 164 shares in the last quarter. Kennebec Savings Bank boosted its holdings in Eaton by 5.4% during the first quarter. Kennebec Savings Bank now owns 2,715 shares of the industrial products company's stock valued at $738,000 after purchasing an additional 139 shares in the last quarter. American National Bank & Trust boosted its holdings in Eaton by 5.4% during the first quarter. American National Bank & Trust now owns 3,145 shares of the industrial products company's stock valued at $855,000 after purchasing an additional 162 shares in the last quarter. Finally, Castle Rock Wealth Management LLC boosted its holdings in Eaton by 7.0% during the fourth quarter. Castle Rock Wealth Management LLC now owns 8,330 shares of the industrial products company's stock valued at $2,575,000 after purchasing an additional 543 shares in the last quarter. Institutional investors own 82.97% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on ETN. Royal Bank Of Canada lifted their price objective on Eaton from $336.00 to $356.00 and gave the company an "outperform" rating in a report on Monday, May 5th. Morgan Stanley decreased their price objective on Eaton from $385.00 to $375.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. Evercore ISI lifted their price objective on Eaton from $326.00 to $349.00 and gave the company an "in-line" rating in a report on Monday, May 19th. Wall Street Zen raised Eaton from a "hold" rating to a "buy" rating in a report on Sunday, May 18th. Finally, KeyCorp boosted their target price on Eaton from $325.00 to $355.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. Based on data from MarketBeat, Eaton currently has a consensus rating of "Moderate Buy" and an average target price of $368.78.

Insider Buying and Selling at Eaton

In other Eaton news, insider Michael Yelton sold 2,120 shares of the company's 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 now owns 3,382 shares in the company, valued at approximately $1,004,014.34. The trade was a 38.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Craig Arnold sold 51,054 shares of the company's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $305.43, for a total transaction of $15,593,423.22. Following the sale, the insider now owns 489,444 shares of the company's stock, valued at $149,490,880.92. The trade was a 9.45% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 156,660 shares of company stock worth $49,622,894. Insiders own 0.30% of the company's stock.

Eaton Stock Performance

ETN stock opened at $353.74 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.31 and a quick ratio of 0.84. The company has a 50 day moving average price of $318.04 and a 200 day moving average price of $312.83. Eaton Corporation, PLC has a fifty-two week low of $231.85 and a fifty-two week high of $379.99. The stock has a market capitalization of $138.42 billion, a PE ratio of 35.70, a price-to-earnings-growth ratio of 2.70 and a beta of 1.16.

Eaton (NYSE:ETN - Get Free Report) last posted its quarterly earnings data 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 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 analysts' expectations of $6.26 billion. During the same quarter in the previous year, the company posted $2.40 EPS. Eaton's revenue was up 7.3% on a year-over-year basis. Analysts forecast that Eaton Corporation, PLC will post 12.02 EPS for the current year.

Eaton Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 1.18%. The ex-dividend date was Monday, May 5th. Eaton's payout ratio is 41.98%.

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.

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