Eaton Corporation, PLC (NYSE:ETN) Shares Sold by Stonebrook Private Inc.

Stonebrook Private Inc. lessened its stake in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 8.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,752 shares of the industrial products company's stock after selling 1,456 shares during the period. Eaton accounts for about 1.2% of Stonebrook Private Inc.'s holdings, making the stock its 23rd biggest position. Stonebrook Private Inc.'s holdings in Eaton were worth $4,554,000 as of its most recent filing with the Securities & Exchange Commission.

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

Eaton Trading Up 0.8%

Shares of ETN stock traded up $3.03 on Friday, reaching $360.67. 1,697,991 shares of the stock were exchanged, compared to its average volume of 2,669,932. The stock has a market cap of $141.13 billion, a P/E ratio of 36.39, a price-to-earnings-growth ratio of 2.70 and a beta of 1.17. 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 50 day moving average of $332.74 and a two-hundred day moving average of $313.67. Eaton Corporation, PLC has a 1-year low of $231.85 and a 1-year high of $379.99.

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

Eaton Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were issued a $1.04 dividend. The ex-dividend date of this dividend was Monday, May 5th. This represents a $4.16 annualized dividend and a yield of 1.15%. Eaton's dividend payout ratio is currently 41.98%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Citigroup upped their price target on Eaton from $323.00 to $351.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Wells Fargo & Company upped their target price on Eaton from $310.00 to $360.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 1st. Evercore ISI upped their target price on Eaton from $326.00 to $349.00 and gave the company an "in-line" rating in a research note on Monday, May 19th. JPMorgan Chase & Co. upped their target price on Eaton from $300.00 to $360.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Finally, Barclays increased their price target on Eaton from $323.00 to $340.00 and gave the stock an "equal weight" rating in a research note on Wednesday. Six research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $370.63.

Insider Buying and Selling at Eaton

In related 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 completion of the sale, the insider directly owned 490,208 shares in the company, valued at approximately $158,214,632. This represents a 17.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 sale, the insider owned 3,382 shares of the company's stock, valued at approximately $1,004,014.34. This represents a 38.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 156,660 shares of company stock valued at $49,622,894. 0.30% of the stock is owned by 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.