Eaton Co. plc (NYSE:ETN) Shares Bought by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI lifted its stake in Eaton Co. plc (NYSE:ETN - Free Report) by 164.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,137 shares of the industrial products company's stock after buying an additional 4,438 shares during the period. Citizens Financial Group Inc. RI's holdings in Eaton were worth $1,719,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Avior Wealth Management LLC increased its holdings in Eaton by 69.5% during the 3rd quarter. Avior Wealth Management LLC now owns 222 shares of the industrial products company's stock valued at $47,000 after purchasing an additional 91 shares during the period. Meridian Wealth Management LLC increased its holdings in Eaton by 17.2% during the 3rd quarter. Meridian Wealth Management LLC now owns 1,379 shares of the industrial products company's stock valued at $294,000 after purchasing an additional 202 shares during the period. Strategic Blueprint LLC increased its holdings in Eaton by 11.9% during the 3rd quarter. Strategic Blueprint LLC now owns 2,890 shares of the industrial products company's stock valued at $616,000 after purchasing an additional 307 shares during the period. KRS Capital Management LLC increased its holdings in Eaton by 14.0% during the 3rd quarter. KRS Capital Management LLC now owns 2,766 shares of the industrial products company's stock valued at $590,000 after purchasing an additional 340 shares during the period. Finally, U.S. Capital Wealth Advisors LLC increased its holdings in Eaton by 14.4% during the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 13,122 shares of the industrial products company's stock valued at $2,799,000 after purchasing an additional 1,652 shares during the period. Hedge funds and other institutional investors own 82.97% of the company's stock.

Insider Transactions at Eaton

In other Eaton news, insider Ernest W. Marshall, Jr. sold 19,750 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $273.17, for a total value of $5,395,107.50. Following the completion of the sale, the insider now owns 29,712 shares in the company, valued at approximately $8,116,427.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Eaton news, insider Ernest W. Marshall, Jr. sold 19,750 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $273.17, for a total value of $5,395,107.50. Following the completion of the sale, the insider now owns 29,712 shares in the company, valued at approximately $8,116,427.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Olivier Leonetti sold 4,461 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $272.00, for a total value of $1,213,392.00. Following the completion of the sale, the insider now owns 630 shares of the company's stock, valued at approximately $171,360. The disclosure for this sale can be found here. Insiders sold 38,969 shares of company stock worth $10,904,774 in the last three months. Corporate insiders own 0.53% of the company's stock.

Analyst Upgrades and Downgrades

ETN has been the topic of a number of research analyst reports. Barclays upgraded Eaton from an "underweight" rating to an "equal weight" rating and upped their target price for the stock from $250.00 to $300.00 in a report on Tuesday, April 2nd. Bank of America upped their target price on Eaton from $320.00 to $330.00 and gave the stock a "buy" rating in a report on Monday, March 18th. Berenberg Bank upped their target price on Eaton from $200.00 to $345.00 and gave the stock a "buy" rating in a report on Wednesday, March 6th. Mizuho upped their target price on Eaton from $300.00 to $340.00 and gave the stock a "buy" rating in a report on Wednesday, March 20th. Finally, Wolfe Research reiterated an "underperform" rating and set a $312.00 target price on shares of Eaton in a report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, Eaton currently has a consensus rating of "Moderate Buy" and an average price target of $295.60.

Eaton Stock Performance

Shares of NYSE ETN traded up $7.20 during midday trading on Friday, hitting $324.30. 2,305,692 shares of the stock traded hands, compared to its average volume of 2,383,996. The firm has a 50-day moving average of $304.82 and a two-hundred day moving average of $258.60. The firm has a market capitalization of $129.56 billion, a P/E ratio of 40.44, a PEG ratio of 2.63 and a beta of 1.07. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.02 and a current ratio of 1.51. Eaton Co. plc has a one year low of $162.04 and a one year high of $331.47.

Eaton (NYSE:ETN - Get Free Report) last released its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.55 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.08. The firm had revenue of $5.97 billion for the quarter, compared to analysts' expectations of $5.91 billion. Eaton had a return on equity of 20.05% and a net margin of 13.88%. The company's revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.06 EPS. On average, equities analysts forecast that Eaton Co. plc will post 10.28 EPS for the current fiscal year.

Eaton Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, May 6th will be paid a $0.94 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $3.76 annualized dividend and a dividend yield of 1.16%. Eaton's dividend payout ratio (DPR) is 46.88%.

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.