WESPAC Advisors SoCal LLC Acquires 6,859 Shares of Eaton Corporation, PLC (NYSE:ETN)

WESPAC Advisors SoCal LLC increased its stake in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 30.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 29,484 shares of the industrial products company's stock after buying an additional 6,859 shares during the period. Eaton accounts for about 2.1% of WESPAC Advisors SoCal LLC's portfolio, making the stock its 18th largest holding. WESPAC Advisors SoCal LLC's holdings in Eaton were worth $8,015,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of ETN. Capital A Wealth Management LLC bought a new stake in shares of Eaton during the 4th quarter worth about $26,000. Creative Financial Designs Inc. ADV grew its position in shares of Eaton by 102.0% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 101 shares of the industrial products company's stock worth $27,000 after purchasing an additional 51 shares in the last quarter. Murphy & Mullick Capital Management Corp acquired a new position in shares of Eaton during the 4th quarter worth approximately $33,000. Vermillion Wealth Management Inc. acquired a new position in shares of Eaton during the 4th quarter worth approximately $33,000. Finally, Abound Wealth Management grew its position in shares of Eaton by 73.8% during the 1st quarter. Abound Wealth Management now owns 146 shares of the industrial products company's stock worth $40,000 after purchasing an additional 62 shares in the last quarter. Institutional investors own 82.97% of the company's stock.

Insider Activity

In other Eaton news, insider Michael Yelton sold 2,120 shares of Eaton stock in a transaction dated Tuesday, May 6th. The shares were 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. The trade was a 38.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Craig Arnold sold 103,486 shares of Eaton stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $322.75, for a total transaction 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 ninety days, insiders sold 156,660 shares of company stock worth $49,622,894. Insiders own 0.30% of the company's stock.

Eaton Stock Up 1.9%

ETN traded up $7.39 during midday trading on Friday, hitting $392.29. The company had a trading volume of 2,106,513 shares, compared to its average volume of 2,016,849. The company has a market capitalization of $153.50 billion, a price-to-earnings ratio of 39.59, a PEG ratio of 2.90 and a beta of 1.17. The stock's 50 day moving average price is $344.57 and its 200 day moving average price is $316.22. Eaton Corporation, PLC has a 52 week low of $231.85 and a 52 week high of $393.07. 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 quarterly earnings data 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. The firm had revenue of $6.38 billion during the quarter, compared to analysts' expectations of $6.26 billion. Eaton had a net margin of 15.55% and a return on equity of 23.41%. The business's revenue was up 7.3% on a year-over-year basis. During the same period last year, the company earned $2.40 earnings per share. On average, research analysts anticipate that Eaton Corporation, PLC will post 12.02 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Thursday, August 7th will be issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend is Thursday, August 7th. Eaton's dividend payout ratio (DPR) is presently 41.98%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ETN. The Goldman Sachs Group increased their target price on shares of Eaton from $345.00 to $382.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. KeyCorp increased their target price on shares of Eaton from $355.00 to $410.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. Wall Street Zen upgraded shares of Eaton from a "hold" rating to a "buy" rating in a research report on Saturday, July 5th. Sanford C. Bernstein reiterated an "outperform" rating and set a $396.00 price target on shares of Eaton in a research report on Monday, July 14th. Finally, Citigroup increased their price target on shares of Eaton from $351.00 to $420.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. Six research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $377.89.

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.