U.S. Capital Wealth Advisors LLC Buys 5,044 Shares of Eaton Corporation, PLC (NYSE:ETN)

U.S. Capital Wealth Advisors LLC raised its holdings in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 8.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 62,565 shares of the industrial products company's stock after purchasing an additional 5,044 shares during the period. U.S. Capital Wealth Advisors LLC's holdings in Eaton were worth $17,007,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Eaton in the 4th quarter valued at approximately $1,495,582,000. GAMMA Investing LLC raised its position in shares of Eaton by 27,281.9% in the 1st quarter. GAMMA Investing LLC now owns 3,593,321 shares of the industrial products company's stock valued at $976,772,000 after acquiring an additional 3,580,198 shares during the period. Capital International Investors acquired a new stake in shares of Eaton in the 4th quarter valued at approximately $523,541,000. Leigh Baldwin & CO. LLC acquired a new stake in shares of Eaton in the 4th quarter valued at approximately $231,552,000. Finally, Janus Henderson Group PLC raised its position in shares of Eaton by 24.3% in the 4th quarter. Janus Henderson Group PLC now owns 3,007,570 shares of the industrial products company's stock valued at $998,144,000 after acquiring an additional 588,370 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Eaton Stock Down 0.6%

Shares of NYSE:ETN traded down $2.00 during midday trading on Thursday, hitting $357.78. The stock had a trading volume of 2,809,411 shares, compared to its average volume of 2,669,039. The company has a market cap of $140.00 billion, a P/E ratio of 36.10, a PEG ratio of 2.69 and a beta of 1.17. Eaton Corporation, PLC has a 12 month low of $231.85 and a 12 month high of $379.99. The business's 50-day simple moving average is $330.40 and its 200-day simple moving average is $313.40. 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 issued its earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share for the quarter, topping analysts' consensus estimates of $2.70 by $0.02. The business had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.26 billion. Eaton had a net margin of 15.55% and a return on equity of 23.41%. The firm's revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the previous year, the company earned $2.40 earnings per share. On average, sell-side analysts forecast that Eaton Corporation, PLC will post 12.02 earnings per share for the current fiscal year.

Eaton Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were issued a dividend of $1.04 per share. The ex-dividend date of this dividend was Monday, May 5th. This represents a $4.16 dividend on an annualized basis and a yield of 1.16%. Eaton's payout ratio is 41.98%.

Insiders Place Their Bets

In other Eaton news, insider Craig Arnold sold 103,486 shares of Eaton stock in a transaction on Monday, May 12th. The shares were 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 directly owned 490,208 shares of the company's stock, valued at $158,214,632. The trade was a 17.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Michael Yelton sold 2,120 shares of Eaton stock in a transaction on 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 directly owned 3,382 shares of the company's stock, valued at approximately $1,004,014.34. This trade represents a 38.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 156,660 shares of company stock worth $49,622,894. 0.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on ETN shares. The Goldman Sachs Group increased their price target on shares of Eaton from $345.00 to $382.00 and gave the company a "buy" rating in a research report on Tuesday. Morgan Stanley dropped their target price on shares of Eaton from $385.00 to $375.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. Wells Fargo & Company raised their target price on shares of Eaton from $310.00 to $360.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 1st. BNP Paribas initiated coverage on shares of Eaton in a report on Thursday, May 15th. They set an "outperform" rating and a $380.00 target price on the stock. Finally, Jefferies Financial Group dropped their target price on shares of Eaton from $390.00 to $335.00 and set a "buy" rating on the stock in a report on Wednesday, March 12th. Six equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $370.63.

Eaton Company 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.