Silphium Asset Management Ltd Buys 2,079 Shares of Eaton Corporation, PLC (NYSE:ETN)

Silphium Asset Management Ltd increased its position in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 12.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,335 shares of the industrial products company's stock after acquiring an additional 2,079 shares during the period. Eaton makes up 4.2% of Silphium Asset Management Ltd's portfolio, making the stock its 8th biggest position. Silphium Asset Management Ltd's holdings in Eaton were worth $5,256,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. DekaBank Deutsche Girozentrale grew its position in Eaton by 4.6% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 704,358 shares of the industrial products company's stock valued at $189,080,000 after buying an additional 30,727 shares in the last quarter. Personal CFO Solutions LLC grew its position in Eaton by 10.6% in the 1st quarter. Personal CFO Solutions LLC now owns 1,963 shares of the industrial products company's stock valued at $534,000 after buying an additional 188 shares in the last quarter. Stratos Wealth Advisors LLC grew its position in Eaton by 22.5% in the 1st quarter. Stratos Wealth Advisors LLC now owns 1,722 shares of the industrial products company's stock valued at $468,000 after buying an additional 316 shares in the last quarter. Stratos Wealth Partners LTD. grew its position in Eaton by 15.1% in the 1st quarter. Stratos Wealth Partners LTD. now owns 33,413 shares of the industrial products company's stock valued at $9,083,000 after buying an additional 4,390 shares in the last quarter. Finally, Stratos Investment Management LLC grew its position in Eaton by 30.6% in the 1st quarter. Stratos Investment Management LLC now owns 3,278 shares of the industrial products company's stock valued at $891,000 after buying an additional 769 shares in the last quarter. Institutional investors own 82.97% of the company's stock.

Insider Activity at Eaton

In related news, insider Michael Yelton sold 2,120 shares of the firm's 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 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Craig Arnold sold 103,486 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were 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 in the company, valued at approximately $158,214,632. The trade was a 17.43% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 156,660 shares of company stock worth $49,622,894. Insiders own 0.30% of the company's stock.

Eaton Stock Down 0.6%

Shares of NYSE ETN traded down $2.00 during mid-day trading on Thursday, reaching $357.78. The company had a trading volume of 2,809,502 shares, compared to its average volume of 2,671,382. The stock has a fifty day moving average of $331.52 and a two-hundred day moving average of $313.54. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.84 and a current ratio of 1.31. The company has a market capitalization of $140.00 billion, a price-to-earnings ratio of 36.10, a PEG ratio of 2.71 and a beta of 1.17. Eaton Corporation, PLC has a 12-month low of $231.85 and a 12-month high of $379.99.

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 (EPS) for the quarter, topping analysts' consensus estimates of $2.70 by $0.02. The business had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.26 billion. Eaton had a net margin of 15.55% and a return on equity of 23.41%. The firm's revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.40 earnings per share. As a group, equities research analysts expect that Eaton Corporation, PLC will post 12.02 EPS for the current year.

Eaton Dividend Announcement

The firm 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. This represents a $4.16 annualized dividend and a yield of 1.16%. The ex-dividend date was Monday, May 5th. Eaton's payout ratio is presently 41.98%.

Analysts Set New Price Targets

Several research firms have recently weighed in on ETN. BNP Paribas Exane began coverage on shares of Eaton in a research report on Thursday, May 15th. They set an "outperform" rating and a $380.00 price objective for the company. The Goldman Sachs Group raised their price objective on shares of Eaton from $345.00 to $382.00 and gave the company a "buy" rating in a research report on Tuesday. Evercore ISI raised their price objective on shares of Eaton from $326.00 to $349.00 and gave the company an "in-line" rating in a research report on Monday, May 19th. Morgan Stanley reduced their price objective 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, Royal Bank Of Canada raised their price objective on shares of Eaton from $336.00 to $356.00 and gave the company an "outperform" rating in a research 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. Based on data from MarketBeat, Eaton has an average rating of "Moderate Buy" and a consensus target price of $370.63.

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.