Eaton Corporation, PLC (NYSE:ETN) Shares Acquired by Everett Harris & Co. CA

Everett Harris & Co. CA lifted its holdings in shares of Eaton Corporation, PLC (NYSE:ETN) by 24.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,523 shares of the industrial products company’s stock after acquiring an additional 300 shares during the quarter. Everett Harris & Co. CA’s holdings in Eaton were worth $414,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Savvy Advisors Inc. lifted its holdings in shares of Eaton by 7.7% during the 1st quarter. Savvy Advisors Inc. now owns 3,880 shares of the industrial products company’s stock valued at $1,055,000 after acquiring an additional 277 shares in the last quarter. Citigroup Inc. lifted its holdings in shares of Eaton by 128.0% during the 1st quarter. Citigroup Inc. now owns 658,355 shares of the industrial products company’s stock valued at $178,961,000 after acquiring an additional 369,544 shares in the last quarter. LaSalle St. Investment Advisors LLC acquired a new position in shares of Eaton during the 1st quarter valued at $395,000. AlphaCore Capital LLC lifted its holdings in Eaton by 27.9% in the 1st quarter. AlphaCore Capital LLC now owns 5,606 shares of the industrial products company’s stock worth $1,524,000 after buying an additional 1,223 shares in the last quarter. Finally, Flagship Wealth Advisors LLC lifted its holdings in Eaton by 125.0% in the 1st quarter. Flagship Wealth Advisors LLC now owns 180 shares of the industrial products company’s stock worth $49,000 after buying an additional 100 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Buying and Selling

In related news, insider Craig Arnold sold 103,486 shares of the firm’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 value of $33,400,106.50. Following the sale, the insider directly owned 490,208 shares in the company, valued at $158,214,632. This trade represents a 17.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.30% of the company’s stock.

Eaton Price Performance

Shares of NYSE:ETN opened at $363.07 on Friday. The company has a quick ratio of 0.84, a current ratio of 1.24 and a debt-to-equity ratio of 0.47. Eaton Corporation, PLC has a fifty-two week low of $231.85 and a fifty-two week high of $399.56. The firm has a 50-day simple moving average of $354.99 and a 200 day simple moving average of $318.37. The company has a market cap of $141.34 billion, a PE ratio of 36.53, a P/E/G ratio of 2.66 and a beta of 1.18.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $2.95 earnings per share for the quarter, beating analysts’ consensus estimates of $2.92 by $0.03. Eaton had a net margin of 15.11% and a return on equity of 23.91%. The business had revenue of $7.03 billion during the quarter, compared to the consensus estimate of $6.93 billion. During the same quarter in the prior year, the firm earned $2.73 EPS. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Eaton Corporation, PLC will post 12.02 EPS for the current year.

Eaton Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Thursday, August 7th will be given a $1.04 dividend. The ex-dividend date is Thursday, August 7th. This represents a $4.16 annualized dividend and a yield of 1.1%. Eaton’s dividend payout ratio is 41.85%.

Analysts Set New Price Targets

A number of equities analysts have commented on ETN shares. BNP Paribas Exane started coverage on shares of Eaton in a report on Thursday, May 15th. They issued an “outperform” rating and a $380.00 price objective on the stock. The Goldman Sachs Group boosted their price objective on shares of Eaton from $345.00 to $382.00 and gave the stock a “buy” rating in a report on Tuesday, July 8th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $396.00 price objective on shares of Eaton in a report on Monday, July 14th. Barclays boosted their price objective on shares of Eaton from $340.00 to $344.00 and gave the stock an “equal weight” rating in a report on Wednesday. Finally, Royal Bank Of Canada boosted their price objective on shares of Eaton from $336.00 to $356.00 and gave the stock an “outperform” rating in a report on Monday, May 5th. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $383.63.

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.