Tounjian Advisory Partners LLC Takes Position in Eaton Co. plc (NYSE:ETN)

Tounjian Advisory Partners LLC acquired a new stake in Eaton Co. plc (NYSE:ETN - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,022 shares of the industrial products company's stock, valued at approximately $278,000.

Other large investors have also bought and sold shares of the company. Pallas Capital Advisors LLC increased its stake in shares of Eaton by 27.4% in the first quarter. Pallas Capital Advisors LLC now owns 17,237 shares of the industrial products company's stock valued at $4,685,000 after buying an additional 3,708 shares during the period. Farther Finance Advisors LLC boosted its holdings in Eaton by 34.8% in the first quarter. Farther Finance Advisors LLC now owns 10,176 shares of the industrial products company's stock valued at $2,816,000 after acquiring an additional 2,626 shares during the last quarter. Daymark Wealth Partners LLC boosted its holdings in Eaton by 9.2% in the first quarter. Daymark Wealth Partners LLC now owns 21,541 shares of the industrial products company's stock valued at $5,855,000 after acquiring an additional 1,810 shares during the last quarter. Greystone Financial Group LLC increased its position in Eaton by 41.5% during the 1st quarter. Greystone Financial Group LLC now owns 2,999 shares of the industrial products company's stock valued at $815,000 after purchasing an additional 880 shares during the period. Finally, Courier Capital LLC raised its holdings in Eaton by 4.6% during the 1st quarter. Courier Capital LLC now owns 1,858 shares of the industrial products company's stock worth $505,000 after purchasing an additional 82 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ETN has been the subject of several recent analyst reports. Evercore ISI increased their price objective on shares of Eaton from $326.00 to $349.00 and gave the stock an "in-line" rating in a research report on Monday, May 19th. Wall Street Zen raised shares of Eaton from a "hold" rating to a "buy" rating in a research report on Sunday, May 18th. JPMorgan Chase & Co. lifted their price objective on Eaton from $300.00 to $360.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Citigroup boosted their price target on Eaton from $323.00 to $351.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and set a $355.00 price objective on shares of Eaton in a research report on Monday, May 5th. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $368.78.

Eaton Stock Performance

Shares of NYSE ETN traded up $4.78 during mid-day trading on Thursday, hitting $330.49. The company had a trading volume of 1,102,651 shares, compared to its average volume of 2,637,301. The stock's 50-day moving average price is $301.79 and its 200-day moving average price is $315.72. Eaton Co. plc has a 1 year low of $231.85 and a 1 year high of $379.99. The company has a market capitalization of $129.32 billion, a price-to-earnings ratio of 34.79, a P/E/G ratio of 2.64 and a beta of 1.16. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46.

Eaton (NYSE:ETN - Get Free Report) last announced its 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. 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 15.25% and a return on equity of 22.62%. Eaton's revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the previous year, the business posted $2.40 earnings per share. On average, sell-side analysts forecast 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. Shareholders of record on Monday, May 5th were given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date was Monday, May 5th. Eaton's payout ratio is 41.98%.

Insider Transactions at Eaton

In other news, insider Michael Yelton sold 2,120 shares of the firm's stock in a transaction dated 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 now directly owns 3,382 shares of the company's stock, valued at approximately $1,004,014.34. This trade represents a 38.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Craig Arnold sold 103,486 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $322.75, for a total transaction of $33,400,106.50. Following the completion of the transaction, the insider now directly owns 490,208 shares of the company's stock, valued at approximately $158,214,632. The trade was a 17.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 156,660 shares of company stock worth $49,622,894. 0.30% of the stock is currently owned by insiders.

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.