Teamwork Financial Advisors LLC Has $2.83 Million Stock Position in Eaton Co. plc (NYSE:ETN)

Teamwork Financial Advisors LLC lifted its stake in Eaton Co. plc (NYSE:ETN - Free Report) by 100.6% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,400 shares of the industrial products company's stock after acquiring an additional 5,216 shares during the period. Teamwork Financial Advisors LLC's holdings in Eaton were worth $2,827,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Eaton by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 37,217,906 shares of the industrial products company's stock worth $12,351,506,000 after purchasing an additional 99,291 shares during the period. FMR LLC grew its position in Eaton by 1.2% during the fourth quarter. FMR LLC now owns 15,222,248 shares of the industrial products company's stock worth $5,051,807,000 after buying an additional 182,455 shares in the last quarter. Geode Capital Management LLC increased its stake in Eaton by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 8,198,412 shares of the industrial products company's stock valued at $2,714,677,000 after acquiring an additional 129,071 shares during the period. Nuveen Asset Management LLC lifted its position in shares of Eaton by 4.3% in the 4th quarter. Nuveen Asset Management LLC now owns 4,671,185 shares of the industrial products company's stock worth $1,550,226,000 after acquiring an additional 192,482 shares during the period. Finally, Northern Trust Corp grew its holdings in shares of Eaton by 8.8% during the 4th quarter. Northern Trust Corp now owns 4,574,704 shares of the industrial products company's stock worth $1,518,207,000 after purchasing an additional 368,241 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on ETN. BNP Paribas Exane assumed coverage on Eaton in a research report on Thursday, May 15th. They set an "outperform" rating and a $380.00 target price for the company. Morgan Stanley lowered their price objective on Eaton from $385.00 to $375.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. Evercore ISI raised their target price on shares of Eaton from $326.00 to $349.00 and gave the stock an "in-line" rating in a report on Monday, May 19th. BNP Paribas started coverage on shares of Eaton in a research note on Thursday, May 15th. They issued an "outperform" rating and a $380.00 target price for the company. Finally, Royal Bank of Canada raised their price target on shares of Eaton from $336.00 to $356.00 and gave the stock an "outperform" rating in a research note on Monday, May 5th. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $367.83.

Eaton Stock Performance

Shares of NYSE ETN traded down $0.58 during mid-day trading on Thursday, reaching $326.50. 1,600,706 shares of the company were exchanged, compared to its average volume of 2,651,303. The stock has a market capitalization of $127.76 billion, a P/E ratio of 34.37, a P/E/G ratio of 2.64 and a beta of 1.16. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. The company's 50-day simple moving average is $295.92 and its 200-day simple moving average is $317.07. Eaton Co. plc has a twelve month low of $231.85 and a twelve month high of $379.99.

Eaton (NYSE:ETN - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The industrial products company reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.70 by $0.02. The firm had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.26 billion. Eaton had a net margin of 15.25% and a return on equity of 22.62%. The business's revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period last year, the business posted $2.40 earnings per share. As a group, research analysts predict that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 5th were given a $1.04 dividend. The ex-dividend date of this dividend was Monday, May 5th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.27%. Eaton's payout ratio is 41.98%.

Insider Activity at Eaton

In related news, insider Michael Yelton sold 2,120 shares of Eaton stock in a transaction that occurred 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 transaction, the insider now directly owns 3,382 shares of the company's stock, valued at $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 SEC, which is available through this link. Also, insider Craig Arnold sold 51,054 shares of the firm's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $305.43, for a total value of $15,593,423.22. Following the completion of the sale, the insider now directly owns 489,444 shares in the company, valued at approximately $149,490,880.92. This represents a 9.45% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 156,660 shares of company stock worth $49,622,894. Company insiders own 0.30% of the company's stock.

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.