Weaver Capital Management LLC Invests $215,000 in Eaton Corporation, PLC (NYSE:ETN)

Weaver Capital Management LLC acquired a new position in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 792 shares of the industrial products company's stock, valued at approximately $215,000.

Several other large investors have also modified their holdings of ETN. Norges Bank bought a new stake in shares of Eaton during the 4th quarter worth $1,495,582,000. GAMMA Investing LLC boosted its position in shares of Eaton by 27,281.9% in the first quarter. GAMMA Investing LLC now owns 3,593,321 shares of the industrial products company's stock worth $976,772,000 after buying an additional 3,580,198 shares during the period. Capital International Investors acquired a new stake in shares of Eaton in the fourth quarter worth $523,541,000. Proficio Capital Partners LLC boosted its position in shares of Eaton by 42,255.3% in the fourth quarter. Proficio Capital Partners LLC now owns 732,323 shares of the industrial products company's stock worth $243,036,000 after buying an additional 730,594 shares during the period. Finally, Leigh Baldwin & CO. LLC acquired a new stake in shares of Eaton in the fourth quarter worth $231,552,000. 82.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ETN. Evercore ISI raised their target price on Eaton from $326.00 to $349.00 and gave the stock an "in-line" rating in a research report on Monday, May 19th. Barclays raised their target price on Eaton from $306.00 to $323.00 and gave the stock an "equal weight" rating in a research report on Monday, June 9th. Citigroup raised their target price on Eaton from $323.00 to $351.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. BNP Paribas began coverage on Eaton in a research report on Thursday, May 15th. They issued an "outperform" rating and a $380.00 target price for the company. Finally, Jefferies Financial Group decreased their target price on Eaton from $390.00 to $335.00 and set a "buy" rating for the company in a research report on Wednesday, March 12th. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $368.78.

Eaton Stock Performance

ETN traded down $3.52 on Friday, hitting $331.34. 4,406,960 shares of the stock traded hands, compared to its average volume of 2,656,564. Eaton Corporation, PLC has a 52 week low of $231.85 and a 52 week high of $379.99. 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 firm has a market capitalization of $129.65 billion, a PE ratio of 33.43, a P/E/G ratio of 2.57 and a beta of 1.16. The business has a fifty day moving average price of $310.79 and a two-hundred day moving average price of $312.81.

Eaton (NYSE:ETN - Get Free Report) last issued its quarterly 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 firm had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.26 billion. During the same period in the previous year, the company posted $2.40 earnings per share. The company's quarterly revenue was up 7.3% compared to the same quarter last year. On average, research analysts predict that Eaton Corporation, PLC will post 12.02 EPS for the current fiscal year.

Eaton Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were paid a dividend of $1.04 per share. The ex-dividend date of this dividend was Monday, May 5th. This represents a $4.16 annualized dividend and a yield of 1.26%. Eaton's dividend payout ratio is 41.98%.

Insider Activity at Eaton

In other news, insider Michael Yelton sold 2,120 shares of the company's 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 now directly owns 3,382 shares in the company, valued at approximately $1,004,014.34. This represents a 38.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Craig Arnold sold 51,054 shares of the company's stock in a transaction that occurred 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 completion of the sale, the insider now owns 489,444 shares in the company, valued at approximately $149,490,880.92. This represents a 9.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 156,660 shares of company stock worth $49,622,894 over the last three months. Company insiders own 0.30% of the company's stock.

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.