Sequoia Financial Advisors LLC Buys 1,697 Shares of Eaton Corporation, PLC (NYSE:ETN)

Sequoia Financial Advisors LLC grew its position in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 3.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,390 shares of the industrial products company's stock after buying an additional 1,697 shares during the quarter. Sequoia Financial Advisors LLC's holdings in Eaton were worth $13,969,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Eaton Stock Performance

Eaton stock opened at $348.78 on Friday. The company's 50-day moving average price is $316.32 and its 200-day moving average price is $312.86. The company has a quick ratio of 0.84, a current ratio of 1.31 and a debt-to-equity ratio of 0.41. The company has a market cap of $136.48 billion, a PE ratio of 35.20, a price-to-earnings-growth ratio of 2.65 and a beta of 1.16. Eaton Corporation, PLC has a twelve month low of $231.85 and a twelve month high of $379.99.

Eaton (NYSE:ETN - Get Free Report) last issued 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. The company had revenue of $6.38 billion for the quarter, compared to analysts' expectations of $6.26 billion. Eaton had a return on equity of 23.41% and a net margin of 15.55%. The firm's revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.40 earnings per share. On average, equities research analysts forecast that Eaton Corporation, PLC will post 12.02 EPS for the current fiscal year.

Eaton Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were given a $1.04 dividend. The ex-dividend date was Monday, May 5th. This represents a $4.16 dividend on an annualized basis and a yield of 1.19%. Eaton's dividend payout ratio is presently 41.98%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on ETN shares. BNP Paribas Exane began coverage on Eaton in a research report on Thursday, May 15th. They set an "outperform" rating and a $380.00 price objective on the stock. Royal Bank Of Canada lifted their target price on Eaton from $336.00 to $356.00 and gave the company an "outperform" rating in a research note on Monday, May 5th. BNP Paribas assumed coverage on Eaton in a research note on Thursday, May 15th. They issued an "outperform" rating and a $380.00 price target for the company. Barclays lifted their price objective on shares of Eaton from $306.00 to $323.00 and gave the company an "equal weight" rating in a research report on Monday, June 9th. Finally, Jefferies Financial Group dropped their target price on shares of Eaton from $390.00 to $335.00 and set a "buy" rating for the company in a research report on Wednesday, March 12th. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, Eaton has a consensus rating of "Moderate Buy" and a consensus target price of $368.78.

Insiders Place Their Bets

In other Eaton news, insider Craig Arnold sold 51,054 shares of the business's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $305.43, for a total transaction of $15,593,423.22. Following the completion of the transaction, the insider now owns 489,444 shares in the company, valued at $149,490,880.92. The trade was a 9.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Michael Yelton sold 2,120 shares of Eaton 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 sale, the insider now owns 3,382 shares of the company's stock, valued at approximately $1,004,014.34. This trade represents a 38.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 156,660 shares of company stock valued at $49,622,894 over the last three months. 0.30% of the stock is owned by company insiders.

About Eaton

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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