Eaton Co. plc (NYSE:ETN) Shares Purchased by CVA Family Office LLC

CVA Family Office LLC lifted its stake in Eaton Co. plc (NYSE:ETN) by 2.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,702 shares of the industrial products company’s stock after acquiring an additional 42 shares during the period. CVA Family Office LLC’s holdings in Eaton were worth $463,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in ETN. Norges Bank acquired a new stake in shares of Eaton in the 4th quarter worth approximately $1,495,582,000. GAMMA Investing LLC lifted its stake in shares of Eaton by 27,281.9% in the 1st quarter. GAMMA Investing LLC now owns 3,593,321 shares of the industrial products company’s stock worth $976,772,000 after acquiring an additional 3,580,198 shares during the period. Capital International Investors acquired a new stake in shares of Eaton in the 4th quarter worth approximately $523,541,000. Proficio Capital Partners LLC lifted its stake in shares of Eaton by 42,255.3% in the 4th quarter. Proficio Capital Partners LLC now owns 732,323 shares of the industrial products company’s stock worth $243,036,000 after acquiring an additional 730,594 shares during the period. Finally, Leigh Baldwin & CO. LLC acquired a new stake in shares of Eaton in the 4th quarter worth approximately $231,552,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Eaton Stock Down 2.1%

ETN stock opened at $323.26 on Friday. Eaton Co. plc has a 52-week low of $231.85 and a 52-week high of $379.99. The company’s 50 day simple moving average is $304.79 and its 200-day simple moving average is $314.63. 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 firm has a market capitalization of $126.49 billion, a P/E ratio of 34.03, a P/E/G ratio of 2.64 and a beta of 1.16.

Eaton (NYSE:ETN) last released its quarterly earnings data on Friday, May 2nd. The industrial products company reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.70 by $0.02. The firm had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.26 billion. Eaton had a net margin of 15.25% and a return on equity of 22.62%. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.40 EPS. As a group, equities research analysts anticipate that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were paid a $1.04 dividend. The ex-dividend date of this dividend was Monday, May 5th. This represents a $4.16 annualized dividend and a yield of 1.29%. Eaton’s dividend payout ratio is presently 41.98%.

Analysts Set New Price Targets

A number of analysts recently commented on ETN shares. Barclays boosted their target price on shares of Eaton from $306.00 to $323.00 and gave the stock an “equal weight” rating in a report on Monday, June 9th. BNP Paribas started coverage on shares of Eaton in a report on Thursday, May 15th. They issued an “outperform” rating and a $380.00 target price on the stock. KeyCorp boosted their target price on shares of Eaton from $325.00 to $355.00 and gave the stock an “overweight” rating in a report on Monday, May 5th. Royal Bank of Canada boosted their target price on shares of Eaton from $336.00 to $356.00 and gave the stock an “outperform” rating in a report on Monday, May 5th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Eaton from $300.00 to $360.00 and gave the stock an “overweight” rating in a report on Friday, May 16th. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Eaton currently has a consensus rating of “Moderate Buy” and an average target price of $368.78.

Insider Buying and Selling at Eaton

In other Eaton news, insider Michael Yelton sold 2,120 shares of the business’s stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total value of $629,364.40. Following the completion of the sale, the insider now directly owns 3,382 shares of the company’s stock, valued at $1,004,014.34. The trade was a 38.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Craig Arnold sold 51,054 shares of the business’s stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $305.43, for a total transaction of $15,593,423.22. Following the completion of the sale, the insider now directly owns 489,444 shares of the company’s stock, valued at $149,490,880.92. This represents a 9.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 156,660 shares of company stock worth $49,622,894. 0.30% of the stock is currently owned by company insiders.

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.