Eaton Corporation, PLC (NYSE:ETN) Shares Bought by Sigma Planning Corp

Sigma Planning Corp raised its holdings in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 10.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,188 shares of the industrial products company's stock after purchasing an additional 1,232 shares during the quarter. Sigma Planning Corp's holdings in Eaton were worth $3,585,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Capital A Wealth Management LLC acquired a new position in shares of Eaton in the fourth quarter worth about $26,000. Flagship Wealth Advisors LLC acquired a new position in shares of Eaton in the fourth quarter worth about $27,000. Creative Financial Designs Inc. ADV raised its position in shares of Eaton by 102.0% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 101 shares of the industrial products company's stock worth $27,000 after purchasing an additional 51 shares during the last quarter. Murphy & Mullick Capital Management Corp acquired a new position in shares of Eaton during the 4th quarter worth about $33,000. Finally, Vermillion Wealth Management Inc. acquired a new position in shares of Eaton during the 4th quarter worth about $33,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Eaton Trading Down 0.2%

Shares of Eaton stock traded down $0.92 during mid-day trading on Friday, hitting $379.80. The stock had a trading volume of 1,946,941 shares, compared to its average volume of 2,669,895. The firm has a 50-day moving average of $337.91 and a two-hundred day moving average of $314.48. Eaton Corporation, PLC has a 12-month low of $231.85 and a 12-month high of $387.50. 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 firm has a market cap of $148.62 billion, a P/E ratio of 38.33, a price-to-earnings-growth ratio of 2.74 and a beta of 1.17.

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

Eaton Dividend Announcement

The business also recently disclosed 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 was Monday, May 5th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.10%. Eaton's payout ratio is currently 41.98%.

Analyst Ratings Changes

ETN has been the subject of several research analyst reports. BNP Paribas Exane initiated coverage on shares of Eaton in a research report on Thursday, May 15th. They set an "outperform" rating and a $380.00 price target for the company. Evercore ISI upped their price target on shares of Eaton from $326.00 to $349.00 and gave the stock an "in-line" rating in a research report on Monday, May 19th. KeyCorp upped their price target on shares of Eaton from $355.00 to $410.00 and gave the stock an "overweight" rating in a research report on Tuesday. Morgan Stanley reduced their price target 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. Finally, Wells Fargo & Company upped their price target on shares of Eaton from $310.00 to $360.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 1st. Six equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $377.89.

Insider Buying and Selling

In related news, insider Michael Yelton sold 2,120 shares of the stock in a transaction that occurred 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 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Craig Arnold sold 103,486 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $322.75, for a total transaction of $33,400,106.50. Following the transaction, the insider directly owned 490,208 shares of the company's stock, valued at $158,214,632. The trade was a 17.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 156,660 shares of company stock valued at $49,622,894 in the last ninety days. 0.30% of the stock is currently owned by corporate 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.