Wealthfront Advisers LLC Buys 4,940 Shares of Eaton Corporation, PLC (NYSE:ETN)

Wealthfront Advisers LLC lifted its holdings in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 10.7% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 50,994 shares of the industrial products company's stock after purchasing an additional 4,940 shares during the period. Wealthfront Advisers LLC's holdings in Eaton were worth $13,862,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in ETN. Brighton Jones LLC grew its holdings in shares of Eaton by 1.4% during the fourth quarter. Brighton Jones LLC now owns 3,341 shares of the industrial products company's stock worth $1,109,000 after purchasing an additional 45 shares during the last quarter. Revolve Wealth Partners LLC boosted its holdings in Eaton by 17.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 913 shares of the industrial products company's stock valued at $303,000 after acquiring an additional 136 shares during the last quarter. Bank Pictet & Cie Europe AG bought a new position in Eaton in the fourth quarter valued at about $42,839,000. Proficio Capital Partners LLC boosted its holdings in Eaton by 27.6% in the fourth quarter. Proficio Capital Partners LLC now owns 2,207 shares of the industrial products company's stock valued at $732,000 after acquiring an additional 478 shares during the last quarter. Finally, Cibc World Markets Corp boosted its holdings in Eaton by 15.3% in the fourth quarter. Cibc World Markets Corp now owns 62,464 shares of the industrial products company's stock valued at $20,730,000 after acquiring an additional 8,297 shares during the last quarter. Institutional investors own 82.97% of the company's stock.

Insider Buying and Selling

In related news, insider Michael Yelton sold 2,120 shares of Eaton stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total value of $629,364.40. Following the sale, the insider 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Craig Arnold sold 103,486 shares of Eaton stock in a transaction that occurred on Monday, May 12th. The shares were 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 directly owned 490,208 shares in the company, valued at approximately $158,214,632. This represents a 17.43% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 156,660 shares of company stock worth $49,622,894. 0.30% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms recently issued reports on ETN. BNP Paribas Exane began coverage on Eaton in a report on Thursday, May 15th. They issued an "outperform" rating and a $380.00 price target on the stock. Morgan Stanley decreased their price target on Eaton from $385.00 to $375.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. The Goldman Sachs Group raised their price target on Eaton from $345.00 to $382.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. JPMorgan Chase & Co. raised their price target on Eaton from $300.00 to $360.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Finally, Wall Street Zen raised Eaton from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. Six investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $377.89.

Eaton Stock Up 0.3%

Shares of NYSE ETN traded up $0.93 during mid-day trading on Wednesday, reaching $363.04. 1,756,196 shares of the company's stock were exchanged, compared to its average volume of 2,667,009. The firm has a market capitalization of $142.06 billion, a price-to-earnings ratio of 36.63, a PEG ratio of 2.72 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. The business has a fifty day simple moving average of $335.24 and a 200 day simple moving average of $313.81. Eaton Corporation, PLC has a twelve month low of $231.85 and a twelve month high of $379.99.

Eaton (NYSE:ETN - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The industrial products company reported $2.72 EPS for the quarter, topping analysts' consensus estimates of $2.70 by $0.02. The company had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.26 billion. Eaton had a return on equity of 23.41% and a net margin of 15.55%. Eaton's revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.40 earnings per share. As a group, equities analysts expect that Eaton Corporation, PLC will post 12.02 EPS 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 given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend was Monday, May 5th. Eaton's dividend payout ratio is presently 41.98%.

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.