Raymond James Financial Services Advisors Inc. Has $497.99 Million Position in Eaton Co. plc (NYSE:ETN)

Raymond James Financial Services Advisors Inc. decreased its position in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 2.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,592,655 shares of the industrial products company's stock after selling 48,340 shares during the quarter. Eaton makes up approximately 0.7% of Raymond James Financial Services Advisors Inc.'s holdings, making the stock its 19th largest holding. Raymond James Financial Services Advisors Inc. owned about 0.40% of Eaton worth $497,991,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Tennessee Valley Asset Management Partners bought a new stake in shares of Eaton during the fourth quarter worth approximately $25,000. Atwood & Palmer Inc. grew its holdings in Eaton by 142.9% during the 1st quarter. Atwood & Palmer Inc. now owns 85 shares of the industrial products company's stock worth $27,000 after acquiring an additional 50 shares during the period. Clear Investment Research LLC bought a new stake in shares of Eaton during the 4th quarter valued at $29,000. Redmont Wealth Advisors LLC acquired a new position in shares of Eaton in the 1st quarter valued at $33,000. Finally, Valued Wealth Advisors LLC acquired a new stake in shares of Eaton during the fourth quarter worth $35,000. 82.97% of the stock is currently owned by institutional investors.

Insider Transactions at Eaton

In related news, insider Peter Denk sold 1,731 shares of the firm's stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $288.97, for a total value of $500,207.07. Following the completion of the transaction, the insider now directly owns 5,514 shares of the company's stock, valued at $1,593,380.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Olivier Leonetti sold 4,461 shares of the firm's stock in a transaction that occurred 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 directly owns 630 shares of the company's stock, valued at $171,360. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Peter Denk sold 1,731 shares of the business's stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $288.97, for a total value of $500,207.07. Following the transaction, the insider now directly owns 5,514 shares in the company, valued at $1,593,380.58. The disclosure for this sale can be found here. Insiders have sold a total of 38,969 shares of company stock worth $10,904,774 in the last 90 days. Corporate insiders own 0.33% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ETN. Berenberg Bank raised 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. Wolfe Research reaffirmed an "underperform" rating and issued a $312.00 target price on shares of Eaton in a research note on Monday, April 8th. Bank of America lifted their price target on shares of Eaton from $320.00 to $330.00 and gave the stock a "buy" rating in a research report on Monday, March 18th. Barclays raised Eaton from an "underweight" rating to an "equal weight" rating and raised their price objective for the stock from $250.00 to $300.00 in a research note on Tuesday, April 2nd. Finally, Citigroup boosted their target price on Eaton from $270.00 to $310.00 and gave the company a "buy" rating in a research note on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $295.60.

Eaton Stock Down 2.5 %

Shares of NYSE ETN traded down $8.15 during midday trading on Tuesday, reaching $318.36. The company's stock had a trading volume of 5,279,264 shares, compared to its average volume of 2,011,462. Eaton Co. plc has a fifty-two week low of $165.24 and a fifty-two week high of $333.05. The stock has a 50 day simple moving average of $306.65 and a 200-day simple moving average of $260.44. The stock has a market capitalization of $127.18 billion, a price-to-earnings ratio of 39.70, a PEG ratio of 2.69 and a beta of 1.07. The company has a current ratio of 1.51, a quick ratio of 1.02 and a debt-to-equity ratio of 0.43.

Eaton (NYSE:ETN - Get Free Report) last issued its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.55 EPS for the quarter, topping 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 net margin of 13.88% and a return on equity of 20.05%. The company's revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the previous year, the firm posted $2.06 EPS. Equities research analysts predict that Eaton Co. plc will post 10.28 earnings per share for the current year.

Eaton Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 6th will be paid a $0.94 dividend. The ex-dividend date is Friday, May 3rd. This represents a $3.76 dividend on an annualized basis and a yield of 1.18%. Eaton's dividend payout ratio is 46.88%.

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.

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