Running Oak Capital LLC Raises Stake in Eaton Corporation, PLC (NYSE:ETN)

Running Oak Capital LLC increased its stake in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 23.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,285 shares of the industrial products company's stock after buying an additional 10,365 shares during the period. Running Oak Capital LLC's holdings in Eaton were worth $14,756,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Brighton Jones LLC grew its position in shares of Eaton by 1.4% in the 4th quarter. Brighton Jones LLC now owns 3,341 shares of the industrial products company's stock worth $1,109,000 after buying an additional 45 shares during the period. Revolve Wealth Partners LLC boosted its stake in Eaton by 17.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 913 shares of the industrial products company's stock worth $303,000 after acquiring an additional 136 shares in the last quarter. Bank Pictet & Cie Europe AG purchased a new stake in Eaton in the fourth quarter worth about $42,839,000. Strategic Financial Concepts LLC bought a new position in shares of Eaton during the fourth quarter valued at approximately $38,000. Finally, Greystone Financial Group LLC increased its stake in shares of Eaton by 28.5% during the fourth quarter. Greystone Financial Group LLC now owns 2,119 shares of the industrial products company's stock valued at $703,000 after purchasing an additional 470 shares in the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Eaton

In other news, insider Michael Yelton sold 2,120 shares of the business'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 of the company's stock, valued at $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 available at this link. Also, insider Craig Arnold sold 103,486 shares of the company'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 sale, the insider now owns 490,208 shares of the company's stock, 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 ninety days, insiders sold 156,660 shares of company stock valued at $49,622,894. Insiders own 0.30% of the company's stock.

Eaton Stock Performance

Shares of ETN stock traded down $0.54 on Wednesday, reaching $342.72. The stock had a trading volume of 1,929,515 shares, compared to its average volume of 2,658,519. 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 stock has a market cap of $134.11 billion, a P/E ratio of 34.58, a price-to-earnings-growth ratio of 2.66 and a beta of 1.16. The company has a 50 day simple moving average of $313.24 and a 200 day simple moving average of $312.76.

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

Eaton Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were given a dividend of $1.04 per share. The ex-dividend date of this dividend was Monday, May 5th. This represents a $4.16 annualized dividend and a yield of 1.21%. Eaton's dividend payout ratio (DPR) is 41.98%.

Analysts Set New Price Targets

ETN has been the topic of a number of analyst reports. Barclays boosted their price target on Eaton from $306.00 to $323.00 and gave the stock an "equal weight" rating in a research report on Monday, June 9th. Evercore ISI boosted their target price on Eaton from $326.00 to $349.00 and gave the stock an "in-line" rating in a report on Monday, May 19th. Jefferies Financial Group cut their target price on Eaton from $390.00 to $335.00 and set a "buy" rating on the stock in a research note on Wednesday, March 12th. Wall Street Zen raised shares of Eaton from a "hold" rating to a "buy" rating in a research report on Sunday, May 18th. Finally, KeyCorp upped their price objective on Eaton from $325.00 to $355.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $368.78.

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.