SNS Financial Group LLC Takes Position in Eaton Corporation, PLC (NYSE:ETN)

SNS Financial Group LLC acquired a new stake in Eaton Corporation, PLC (NYSE:ETN - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 795 shares of the industrial products company's stock, valued at approximately $216,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Capital A Wealth Management LLC purchased a new stake in shares of Eaton during the 4th quarter valued at about $26,000. Creative Financial Designs Inc. ADV raised its holdings 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 valued at $27,000 after buying an additional 51 shares during the period. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Eaton during the 4th quarter valued at about $33,000. Vermillion Wealth Management Inc. purchased a new stake in shares of Eaton during the 4th quarter valued at about $33,000. Finally, Abound Wealth Management raised its holdings in shares of Eaton by 73.8% during the 1st quarter. Abound Wealth Management now owns 146 shares of the industrial products company's stock valued at $40,000 after buying an additional 62 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

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 transaction, the insider directly owned 490,208 shares in the company, valued at approximately $158,214,632. This trade represents a 17.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael Yelton sold 2,120 shares of the stock in a transaction on Tuesday, May 6th. The shares were 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 in the company, valued at $1,004,014.34. The trade was a 38.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 156,660 shares of company stock valued at $49,622,894 in the last quarter. Corporate insiders own 0.30% of the company's stock.

Eaton Stock Down 0.5%

NYSE:ETN opened at $378.89 on Friday. The firm has a market capitalization of $148.26 billion, a price-to-earnings ratio of 38.23, a PEG ratio of 2.86 and a beta of 1.17. Eaton Corporation, PLC has a 1-year low of $231.85 and a 1-year high of $384.51. The company has a current ratio of 1.31, a quick ratio of 0.84 and a debt-to-equity ratio of 0.41. The business's fifty day moving average price is $339.29 and its 200 day moving average price is $314.69.

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

Eaton Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders 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 dividend yield of 1.10%. Eaton's dividend payout ratio is currently 41.98%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on ETN shares. Wall Street Zen upgraded Eaton from a "hold" rating to a "buy" rating in a report on Saturday, July 5th. KeyCorp lifted their price objective on Eaton from $355.00 to $410.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Royal Bank Of Canada lifted their price objective on Eaton from $336.00 to $356.00 and gave the stock an "outperform" rating in a report on Monday, May 5th. Barclays lifted their price objective on Eaton from $323.00 to $340.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 9th. Finally, The Goldman Sachs Group lifted their price objective on Eaton from $345.00 to $382.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Six analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, Eaton currently has a consensus rating of "Moderate Buy" and an average target price of $377.89.

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.

Want to see what other hedge funds are holding ETN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Eaton Corporation, PLC (NYSE:ETN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.