Trivant Custom Portfolio Group LLC Takes $771,000 Position in Eaton Corporation, PLC (NYSE:ETN)

Trivant Custom Portfolio Group LLC purchased a new position in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,838 shares of the industrial products company's stock, valued at approximately $771,000.

A number of other large investors have also modified their holdings of ETN. Norden Group LLC increased its stake in shares of Eaton by 3.4% in the fourth quarter. Norden Group LLC now owns 978 shares of the industrial products company's stock valued at $325,000 after purchasing an additional 32 shares during the period. Nwam LLC grew its holdings in Eaton by 0.6% in the 4th quarter. Nwam LLC now owns 5,314 shares of the industrial products company's stock worth $1,764,000 after buying an additional 34 shares in the last quarter. Founders Financial Alliance LLC increased its position in Eaton by 0.7% in the 4th quarter. Founders Financial Alliance LLC now owns 5,415 shares of the industrial products company's stock valued at $1,797,000 after acquiring an additional 35 shares during the period. Sound View Wealth Advisors Group LLC raised its stake in Eaton by 1.1% during the 4th quarter. Sound View Wealth Advisors Group LLC now owns 3,587 shares of the industrial products company's stock valued at $1,190,000 after acquiring an additional 38 shares in the last quarter. Finally, Lantern Wealth Advisors LLC boosted its position in Eaton by 1.0% during the 4th quarter. Lantern Wealth Advisors LLC now owns 4,038 shares of the industrial products company's stock worth $1,340,000 after acquiring an additional 38 shares during the period. Institutional investors and hedge funds own 82.97% of the company's stock.

Insider Activity at Eaton

In other Eaton news, 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 sale, the insider now directly owns 489,444 shares in the company, valued at $149,490,880.92. This trade represents a 9.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Michael Yelton sold 2,120 shares of the business's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total transaction of $629,364.40. Following the transaction, the insider now owns 3,382 shares in the company, valued at approximately $1,004,014.34. The trade was a 38.53% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 156,660 shares of company stock valued at $49,622,894. Corporate insiders own 0.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Barclays raised their price target on Eaton from $306.00 to $323.00 and gave the company an "equal weight" rating in a report on Monday, June 9th. Morgan Stanley lowered their target price on shares of Eaton from $385.00 to $375.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. Evercore ISI boosted their price target 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. Jefferies Financial Group decreased their price objective on shares of Eaton from $390.00 to $335.00 and set a "buy" rating for the company in a report on Wednesday, March 12th. Finally, Royal Bank Of Canada raised their price objective on shares of Eaton from $336.00 to $356.00 and gave the company an "outperform" rating in a research note on Monday, May 5th. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat, Eaton presently has an average rating of "Moderate Buy" and a consensus price target of $368.78.

Eaton Trading Down 0.2%

Shares of NYSE ETN traded down $0.69 during mid-day trading on Friday, hitting $334.17. 981,857 shares of the company traded hands, compared to its average volume of 2,641,488. Eaton Corporation, PLC has a 1 year low of $231.85 and a 1 year high of $379.99. The business has a 50 day moving average of $309.71 and a two-hundred day moving average of $313.95. The stock has a market capitalization of $130.76 billion, a price-to-earnings ratio of 33.70, a PEG ratio of 2.60 and a beta of 1.16. The company has a quick ratio of 0.84, a current ratio of 1.31 and a debt-to-equity ratio of 0.41.

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

Eaton Announces Dividend

The firm also recently announced 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 annualized dividend and a yield of 1.24%. The ex-dividend date was Monday, May 5th. Eaton's payout ratio is 41.98%.

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.