RFG Advisory LLC Purchases 1,810 Shares of Eaton Co. plc (NYSE:ETN)

RFG Advisory LLC increased its position in Eaton Co. plc (NYSE:ETN - Free Report) by 47.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,589 shares of the industrial products company's stock after purchasing an additional 1,810 shares during the quarter. RFG Advisory LLC's holdings in Eaton were worth $1,519,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital A Wealth Management LLC acquired a new stake in shares of Eaton during the 4th quarter worth approximately $26,000. Flagship Wealth Advisors LLC acquired a new position in Eaton during the 4th quarter worth approximately $27,000. Noble Wealth Management PBC bought a new position in shares of Eaton during the 4th quarter worth approximately $30,000. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Eaton in the fourth quarter valued at approximately $33,000. Finally, Vermillion Wealth Management Inc. bought a new stake in shares of Eaton in the fourth quarter worth $33,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Eaton

In other 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 transaction of $629,364.40. Following the completion of the sale, the insider now directly owns 3,382 shares in the company, valued at approximately $1,004,014.34. This represents a 38.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Craig Arnold sold 103,486 shares of the firm's stock in a transaction on Monday, May 12th. The stock was 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 now owns 490,208 shares in the company, valued at $158,214,632. The trade was a 17.43% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 156,660 shares of company stock valued at $49,622,894. 0.30% of the stock is currently owned by corporate insiders.

Eaton Stock Performance

Shares of NYSE:ETN traded up $5.23 on Friday, hitting $331.71. The company had a trading volume of 2,206,422 shares, compared to its average volume of 2,650,186. The stock has a market cap of $129.80 billion, a price-to-earnings ratio of 34.92, a P/E/G ratio of 2.64 and a beta of 1.16. The stock has a 50 day moving average price of $297.01 and a 200 day moving average price of $316.86. Eaton Co. plc has a 1-year low of $231.85 and a 1-year high of $379.99. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46.

Eaton (NYSE:ETN - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The industrial products company reported $2.72 EPS for the quarter, beating analysts' consensus estimates of $2.70 by $0.02. The business had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.26 billion. Eaton had a net margin of 15.25% and a return on equity of 22.62%. Eaton's quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.40 EPS. Analysts expect that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Announces Dividend

The company also recently disclosed 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 yield of 1.25%. The ex-dividend date of this dividend was Monday, May 5th. Eaton's payout ratio is 41.98%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on ETN shares. Citigroup lifted their price target on shares of Eaton from $323.00 to $351.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Barclays decreased their price objective on Eaton from $315.00 to $306.00 and set an "equal weight" rating for the company in a report on Friday, April 4th. BNP Paribas assumed coverage on Eaton in a report on Thursday, May 15th. They set an "outperform" rating and a $380.00 target price on the stock. Evercore ISI raised their price target on Eaton from $326.00 to $349.00 and gave the company an "in-line" rating in a research note on Monday, May 19th. Finally, Morgan Stanley lowered their price target on Eaton from $385.00 to $375.00 and set an "overweight" rating on the stock 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $367.83.

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.