Schear Investment Advisers LLC Has $1.30 Million Position in Eaton Corporation, PLC (NYSE:ETN)

Schear Investment Advisers LLC boosted its holdings in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 70.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,794 shares of the industrial products company's stock after purchasing an additional 1,977 shares during the quarter. Schear Investment Advisers LLC's holdings in Eaton were worth $1,303,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Eaton by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 37,217,906 shares of the industrial products company's stock worth $12,351,506,000 after acquiring an additional 99,291 shares during the last quarter. FMR LLC boosted its holdings in Eaton by 1.2% during the 4th quarter. FMR LLC now owns 15,222,248 shares of the industrial products company's stock worth $5,051,807,000 after acquiring an additional 182,455 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Eaton by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 8,198,412 shares of the industrial products company's stock worth $2,714,677,000 after acquiring an additional 129,071 shares during the last quarter. Nuveen Asset Management LLC boosted its holdings in Eaton by 4.3% during the 4th quarter. Nuveen Asset Management LLC now owns 4,671,185 shares of the industrial products company's stock worth $1,550,226,000 after acquiring an additional 192,482 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in Eaton by 8.8% during the 4th quarter. Northern Trust Corp now owns 4,574,704 shares of the industrial products company's stock worth $1,518,207,000 after acquiring an additional 368,241 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Insider Buying and Selling

In other Eaton news, insider Craig Arnold sold 103,486 shares of the 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 owned 490,208 shares in the company, valued at approximately $158,214,632. This represents a 17.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael Yelton sold 2,120 shares of the 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 completion of the transaction, the insider owned 3,382 shares of the company's stock, valued at approximately $1,004,014.34. This trade represents a 38.53% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 156,660 shares of company stock valued at $49,622,894. Insiders own 0.30% of the company's stock.

Eaton Stock Up 0.8%

Shares of ETN opened at $360.67 on Friday. The firm has a market cap of $141.13 billion, a P/E ratio of 36.39, a P/E/G ratio of 2.72 and a beta of 1.17. The stock has a 50 day simple moving average of $332.74 and a two-hundred day simple moving average of $313.48. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.31 and a quick ratio of 0.84. Eaton Corporation, PLC has a 1 year low of $231.85 and a 1 year high of $379.99.

Eaton (NYSE:ETN - Get Free Report) last released its quarterly earnings data 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 firm 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 quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.40 earnings per share. On average, analysts forecast that Eaton Corporation, PLC will post 12.02 earnings per share for the current fiscal year.

Eaton Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 5th were paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date of this dividend was Monday, May 5th. Eaton's dividend payout ratio (DPR) is presently 41.98%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Evercore ISI lifted their price objective on shares of Eaton from $326.00 to $349.00 and gave the stock an "in-line" rating in a report on Monday, May 19th. BNP Paribas assumed coverage on shares of Eaton in a report on Thursday, May 15th. They issued an "outperform" rating and a $380.00 price target on the stock. Morgan Stanley cut their price target on shares of Eaton from $385.00 to $375.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. Barclays boosted their price target on shares of Eaton from $323.00 to $340.00 and gave the stock an "equal weight" rating in a report on Wednesday. Finally, Royal Bank Of Canada boosted their price target on shares of Eaton from $336.00 to $356.00 and gave the stock 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 assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $370.63.

Eaton Company 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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