Eagle Rock Investment Company LLC Purchases 915 Shares of Eaton Co. plc (NYSE:ETN)

Eagle Rock Investment Company LLC increased its position in shares of Eaton Co. plc (NYSE:ETN) by 23.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,865 shares of the industrial products company’s stock after acquiring an additional 915 shares during the period. Eagle Rock Investment Company LLC’s holdings in Eaton were worth $1,322,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. AGH Wealth Advisors LLC grew its position in Eaton by 2.6% during the 1st quarter. AGH Wealth Advisors LLC now owns 1,517 shares of the industrial products company’s stock worth $412,000 after acquiring an additional 38 shares during the last quarter. Unique Wealth LLC grew its position in Eaton by 27.3% during the 1st quarter. Unique Wealth LLC now owns 5,535 shares of the industrial products company’s stock worth $1,505,000 after acquiring an additional 1,187 shares during the last quarter. KRS Capital Management LLC grew its position in Eaton by 6.2% during the 1st quarter. KRS Capital Management LLC now owns 3,081 shares of the industrial products company’s stock worth $838,000 after acquiring an additional 179 shares during the last quarter. Affinity Wealth Management LLC grew its position in Eaton by 0.9% during the 1st quarter. Affinity Wealth Management LLC now owns 13,725 shares of the industrial products company’s stock worth $3,731,000 after acquiring an additional 125 shares during the last quarter. Finally, Curat Global LLC bought a new stake in Eaton during the 1st quarter worth $86,000. Institutional investors own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on ETN shares. BNP Paribas Exane started coverage on Eaton in a research report on Thursday, May 15th. They set an “outperform” rating and a $380.00 price objective on the stock. BNP Paribas started coverage on Eaton in a research report on Thursday, May 15th. They issued an “outperform” rating and a $380.00 price target on the stock. Evercore ISI upped their price target on Eaton from $326.00 to $349.00 and gave the company an “in-line” rating in a research report on Monday, May 19th. KeyCorp upped their price target on Eaton from $325.00 to $355.00 and gave the company an “overweight” rating in a research report on Monday, May 5th. Finally, Morgan Stanley reduced their price target on Eaton from $385.00 to $375.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 6th. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $367.83.

Insider Buying and Selling

In related news, insider Craig Arnold sold 103,486 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 490,208 shares of the company’s stock, valued at approximately $158,214,632. This represents a 17.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction, the insider now directly owns 3,382 shares in the company, valued at approximately $1,004,014.34. This trade represents a 38.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 156,660 shares of company stock valued at $49,622,894. 0.30% of the stock is owned by company insiders.

Eaton Stock Up 1.6%

Shares of NYSE:ETN opened at $331.71 on Friday. The company has a market capitalization of $129.80 billion, a price-to-earnings ratio of 34.92, a P/E/G ratio of 2.64 and a beta of 1.16. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. The business’s 50-day moving average is $298.11 and its 200-day moving average is $316.64. Eaton Co. plc has a 1 year low of $231.85 and a 1 year high of $379.99.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share for the quarter, topping analysts’ consensus estimates of $2.70 by $0.02. Eaton had a return on equity of 22.62% and a net margin of 15.25%. The business had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.26 billion. During the same period in the prior year, the business earned $2.40 EPS. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. Equities research analysts predict that Eaton Co. plc will post 12.02 earnings per share for the current 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. This represents a $4.16 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend was Monday, May 5th. Eaton’s dividend payout ratio (DPR) is currently 41.98%.

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.