Sit Investment Associates Inc. increased its stake in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 11.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 43,326 shares of the industrial products company's stock after purchasing an additional 4,387 shares during the quarter. Sit Investment Associates Inc.'s holdings in Eaton were worth $11,777,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of ETN. IMA Advisory Services Inc. bought a new stake in shares of Eaton in the 1st quarter worth approximately $25,000. Capital A Wealth Management LLC bought a new stake in shares of Eaton in the 4th quarter worth approximately $26,000. Creative Financial Designs Inc. ADV raised its holdings in shares of Eaton by 102.0% in 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 period. Vermillion Wealth Management Inc. bought a new stake in shares of Eaton in the 4th quarter worth approximately $33,000. Finally, Abound Wealth Management raised its holdings in shares of Eaton by 73.8% in the 1st quarter. Abound Wealth Management now owns 146 shares of the industrial products company's stock worth $40,000 after purchasing an additional 62 shares during the period. Institutional investors own 82.97% of the company's stock.
Eaton Trading Down 1.2%
Shares of Eaton stock traded down $4.23 during trading on Friday, reaching $350.87. 1,899,668 shares of the stock were exchanged, compared to its average volume of 2,748,565. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.47. The stock's fifty day moving average is $358.11 and its 200 day moving average is $318.75. The firm has a market cap of $136.59 billion, a price-to-earnings ratio of 35.30, a price-to-earnings-growth ratio of 2.62 and a beta of 1.18. Eaton Corporation, PLC has a 1 year low of $231.85 and a 1 year high of $399.56.
Eaton (NYSE:ETN - Get Free Report) last posted its earnings results on Tuesday, August 5th. The industrial products company reported $2.95 earnings per share for the quarter, topping analysts' consensus estimates of $2.92 by $0.03. The company had revenue of $7.03 billion during the quarter, compared to analyst estimates of $6.93 billion. Eaton had a net margin of 15.11% and a return on equity of 23.91%. Eaton's revenue for the quarter was up 10.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.73 earnings per share. As a group, equities research analysts expect that Eaton Corporation, PLC will post 12.02 earnings per share for the current fiscal year.
Eaton Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Thursday, August 7th will be issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Thursday, August 7th. Eaton's dividend payout ratio is currently 41.85%.
Insider Buying and Selling at Eaton
In other Eaton news, insider Olivier Leonetti sold 16,018 shares of the firm's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $358.39, for a total value of $5,740,691.02. Following the completion of the sale, the insider directly owned 630 shares in the company, valued at $225,785.70. This trade represents a 96.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.30% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on ETN. Wells Fargo & Company boosted their target price on shares of Eaton from $310.00 to $360.00 and gave the company an "equal weight" rating in a report on Tuesday, July 1st. KeyCorp boosted their target price on shares of Eaton from $355.00 to $410.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Citigroup boosted their target price on shares of Eaton from $420.00 to $425.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. BNP Paribas Exane 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. Finally, Royal Bank Of Canada upped 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. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $383.63.
Read Our Latest Stock Report on ETN
Eaton Company Profile
(
Free Report)
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.
Featured Articles

Before you consider Eaton, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Eaton wasn't on the list.
While Eaton currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's guide to investing in 5G and which 5G stocks show the most promise.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.