Whipplewood Advisors LLC Purchases 16,616 Shares of Eaton Co. plc (NYSE:ETN)

Whipplewood Advisors LLC grew its stake in Eaton Co. plc (NYSE:ETN - Free Report) by 4,072.5% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,024 shares of the industrial products company's stock after purchasing an additional 16,616 shares during the quarter. Eaton makes up about 1.4% of Whipplewood Advisors LLC's holdings, making the stock its 11th largest position. Whipplewood Advisors LLC's holdings in Eaton were worth $4,628,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Capital A Wealth Management LLC purchased a new stake in shares of Eaton during the fourth quarter valued at approximately $26,000. Flagship Wealth Advisors LLC purchased a new stake in shares of Eaton during the fourth quarter valued at approximately $27,000. Noble Wealth Management PBC purchased a new stake in shares of Eaton during the fourth quarter valued at approximately $30,000. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Eaton during the fourth quarter valued at approximately $33,000. Finally, Vermillion Wealth Management Inc. purchased a new stake in shares of Eaton during the fourth quarter valued at approximately $33,000. Institutional investors own 82.97% of the company's stock.

Eaton Stock Performance

Shares of Eaton stock traded up $5.23 during trading hours on Friday, reaching $331.71. The company had a trading volume of 2,206,422 shares, compared to its average volume of 2,648,581. The firm has a market cap of $129.80 billion, a PE ratio of 34.92, a price-to-earnings-growth ratio of 2.64 and a beta of 1.16. Eaton Co. plc has a one year low of $231.85 and a one year high of $379.99. The business has a fifty day simple moving average of $298.11 and a 200 day simple moving average of $316.64. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96.

Eaton (NYSE:ETN - Get Free Report) last posted its quarterly earnings data 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. The company had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.26 billion. Eaton had a return on equity of 22.62% and a net margin of 15.25%. The firm's quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the company earned $2.40 earnings per share. On average, analysts anticipate that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Announces Dividend

The firm also recently disclosed 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. This represents a $4.16 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend was Monday, May 5th. Eaton's dividend payout ratio is 41.98%.

Insider Activity at Eaton

In other Eaton news, 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 now owns 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Michael Yelton sold 2,120 shares of Eaton 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 sale, the insider now directly owns 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 156,660 shares of company stock valued at $49,622,894. Company insiders own 0.30% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on ETN shares. BNP Paribas started coverage on Eaton in a report on Thursday, May 15th. They set an "outperform" rating and a $380.00 price objective for the company. Morgan Stanley reduced their price objective on Eaton from $385.00 to $375.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. Wall Street Zen raised Eaton from a "hold" rating to a "buy" rating in a report on Sunday, May 18th. Jefferies Financial Group reduced their price objective on Eaton from $390.00 to $335.00 and set a "buy" rating for the company in a report on Wednesday, March 12th. Finally, Evercore ISI increased their price objective on Eaton from $326.00 to $349.00 and gave the company an "in-line" rating in a report on Monday, May 19th. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $367.83.

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.