U.S. Capital Wealth Advisors LLC grew its position in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 8.8% in the first quarter, according to its most recent filing with the SEC. The fund owned 62,565 shares of the industrial products company's stock after acquiring an additional 5,044 shares during the quarter. U.S. Capital Wealth Advisors LLC's holdings in Eaton were worth $17,007,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Financial Counselors Inc. boosted its position in shares of Eaton by 7.2% during the 1st quarter. Financial Counselors Inc. now owns 195,521 shares of the industrial products company's stock valued at $53,148,000 after acquiring an additional 13,196 shares during the last quarter. Callan Capital LLC lifted its position in Eaton by 9.1% in the first quarter. Callan Capital LLC now owns 1,693 shares of the industrial products company's stock worth $460,000 after buying an additional 141 shares during the last quarter. TD Private Client Wealth LLC lifted its position in Eaton by 39.9% in the first quarter. TD Private Client Wealth LLC now owns 11,451 shares of the industrial products company's stock worth $3,113,000 after buying an additional 3,265 shares during the last quarter. Capital Advisors Inc. OK lifted its position in Eaton by 1.8% in the first quarter. Capital Advisors Inc. OK now owns 72,260 shares of the industrial products company's stock worth $19,642,000 after buying an additional 1,295 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its position in Eaton by 5.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 813,626 shares of the industrial products company's stock worth $221,168,000 after purchasing an additional 43,719 shares during the period. 82.97% of the stock is currently owned by institutional investors.
Eaton Stock Up 0.5%
Shares of Eaton stock traded up $1.93 during trading on Wednesday, hitting $358.91. 483,774 shares of the stock traded hands, compared to its average volume of 2,659,003. The firm has a market cap of $140.44 billion, a P/E ratio of 36.23, a price-to-earnings-growth ratio of 2.70 and a beta of 1.17. The company has a current ratio of 1.31, a quick ratio of 0.84 and a debt-to-equity ratio of 0.41. Eaton Corporation, PLC has a 52-week low of $231.85 and a 52-week high of $379.99. The stock's fifty day simple moving average is $329.10 and its 200 day simple moving average is $313.08.
Eaton (NYSE:ETN - Get Free Report) last posted 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. Eaton had a return on equity of 23.41% and a net margin of 15.55%. The company had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.26 billion. During the same quarter in the previous year, the firm earned $2.40 earnings per share. The firm's quarterly revenue was up 7.3% compared to the same quarter last year. On average, equities analysts predict that Eaton Corporation, PLC will post 12.02 earnings per share for the current fiscal year.
Eaton Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were paid a $1.04 dividend. The ex-dividend date was Monday, May 5th. This represents a $4.16 annualized dividend and a yield of 1.16%. Eaton's dividend payout ratio (DPR) is presently 41.98%.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on the stock. BNP Paribas Exane assumed coverage on shares of Eaton in a research report on Thursday, May 15th. They issued an "outperform" rating and a $380.00 price objective on the stock. Jefferies Financial Group reduced their price objective on shares of Eaton from $390.00 to $335.00 and set a "buy" rating on the stock in a research report on Wednesday, March 12th. JPMorgan Chase & Co. increased their target price on Eaton from $300.00 to $360.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. Barclays increased their target price on Eaton from $323.00 to $340.00 and gave the stock an "equal weight" rating in a research note on Wednesday. Finally, KeyCorp increased their target price on Eaton from $325.00 to $355.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Six equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $370.63.
Check Out Our Latest Stock Report on ETN
Insider Activity
In other Eaton news, insider Craig Arnold sold 103,486 shares of the firm's stock in a transaction dated 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 owned 490,208 shares of the company's stock, valued at approximately $158,214,632. This trade represents a 17.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Yelton sold 2,120 shares of the firm's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total value of $629,364.40. Following the completion of the sale, the insider directly owned 3,382 shares of the company's stock, valued at approximately $1,004,014.34. This represents a 38.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold 156,660 shares of company stock worth $49,622,894 in the last quarter. 0.30% of the stock is owned by insiders.
Eaton Profile
(
Free Report)
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.
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