Retirement Guys Formula LLC Takes $1.83 Million Position in Eaton Corporation, PLC (NYSE:ETN)

Retirement Guys Formula LLC bought a new position in Eaton Corporation, PLC (NYSE:ETN - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 6,738 shares of the industrial products company's stock, valued at approximately $1,832,000. Eaton accounts for approximately 0.9% of Retirement Guys Formula LLC's holdings, making the stock its 28th biggest position.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ETN. Family Legacy Inc. purchased a new stake in Eaton during the first quarter worth approximately $982,000. Community Financial Services Group LLC boosted its position in Eaton by 8.9% during the 1st quarter. Community Financial Services Group LLC now owns 28,145 shares of the industrial products company's stock worth $7,651,000 after purchasing an additional 2,308 shares during the period. Petros Family Wealth LLC boosted its position in Eaton by 11.5% during the 1st quarter. Petros Family Wealth LLC now owns 1,482 shares of the industrial products company's stock worth $403,000 after purchasing an additional 153 shares during the period. YHB Investment Advisors Inc. raised its position in Eaton by 9.2% in the first quarter. YHB Investment Advisors Inc. now owns 17,849 shares of the industrial products company's stock valued at $4,852,000 after purchasing an additional 1,507 shares during the period. Finally, Consolidated Portfolio Review Corp lifted its stake in shares of Eaton by 48.6% during the first quarter. Consolidated Portfolio Review Corp now owns 942 shares of the industrial products company's stock worth $256,000 after purchasing an additional 308 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Insider Activity

In other Eaton news, 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 completion of the transaction, 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 can be accessed through this link. Also, insider Craig Arnold sold 103,486 shares of the firm'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 transaction, the insider now directly owns 490,208 shares in the company, valued at $158,214,632. This trade represents a 17.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 156,660 shares of company stock valued at $49,622,894. 0.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ETN. Jefferies Financial Group lowered their target price on Eaton from $390.00 to $335.00 and set a "buy" rating for the company in a research note on Wednesday, March 12th. KeyCorp increased their price objective on shares of Eaton from $325.00 to $355.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. BNP Paribas Exane assumed coverage on shares of Eaton in a research report on Thursday, May 15th. They set an "outperform" rating and a $380.00 target price on the stock. Citigroup lifted their price target on shares of Eaton from $323.00 to $351.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. Finally, Morgan Stanley decreased their price objective on shares of Eaton from $385.00 to $375.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. 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.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $368.78.

Eaton Stock Performance

Shares of NYSE ETN traded down $0.54 during midday trading on Wednesday, hitting $342.72. The company's stock had a trading volume of 1,929,515 shares, compared to its average volume of 2,654,219. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.84 and a current ratio of 1.31. Eaton Corporation, PLC has a 1-year low of $231.85 and a 1-year high of $379.99. The firm's fifty day moving average price is $313.24 and its 200-day moving average price is $312.76. The firm has a market cap of $134.11 billion, a P/E ratio of 34.58, a P/E/G ratio of 2.58 and a beta of 1.16.

Eaton (NYSE:ETN - Get Free Report) last posted its earnings results on Friday, May 2nd. The industrial products company reported $2.72 EPS for the quarter, beating the consensus estimate of $2.70 by $0.02. The company had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.26 billion. Eaton had a return on equity of 23.41% and a net margin of 15.55%. The business's revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.40 earnings per share. On average, sell-side analysts forecast that Eaton Corporation, PLC will post 12.02 EPS for the current fiscal year.

Eaton Dividend Announcement

The business 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 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend 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.