Capital Investment Advisors LLC Buys 306 Shares of Eaton Co. plc (NYSE:ETN)

Capital Investment Advisors LLC lifted its stake in Eaton Co. plc (NYSE:ETN) by 5.6% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,768 shares of the industrial products company’s stock after acquiring an additional 306 shares during the period. Capital Investment Advisors LLC’s holdings in Eaton were worth $1,568,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Capital A Wealth Management LLC acquired a new stake in Eaton in the 4th quarter valued at approximately $26,000. Flagship Wealth Advisors LLC acquired a new stake in Eaton in the 4th quarter valued at approximately $27,000. Noble Wealth Management PBC acquired a new stake in Eaton in the 4th quarter valued at approximately $30,000. Murphy & Mullick Capital Management Corp acquired a new stake in Eaton in the 4th quarter valued at approximately $33,000. Finally, Vermillion Wealth Management Inc. acquired a new stake in Eaton in the 4th quarter valued at approximately $33,000. 82.97% of the stock is owned by institutional investors.

Eaton Price Performance

Shares of ETN stock opened at $325.61 on Tuesday. The stock’s fifty day simple moving average is $298.94 and its 200 day simple moving average is $315.59. 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 cap of $127.41 billion, a price-to-earnings ratio of 34.27, a P/E/G ratio of 2.64 and a beta of 1.16. Eaton Co. plc has a one year low of $231.85 and a one year high of $379.99.

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

Eaton Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were paid a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend was Monday, May 5th. Eaton’s dividend payout ratio is 41.98%.

Insider Activity at Eaton

In other Eaton news, insider Craig Arnold sold 51,054 shares of Eaton stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $305.43, for a total value of $15,593,423.22. Following the completion of the transaction, the insider now owns 489,444 shares in the company, valued at approximately $149,490,880.92. The trade was a 9.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Michael Yelton sold 2,120 shares of Eaton stock in a transaction 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 transaction, the insider now owns 3,382 shares of the company’s stock, valued at approximately $1,004,014.34. The trade was a 38.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 156,660 shares of company stock valued at $49,622,894 in the last 90 days. 0.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on ETN shares. Barclays raised their target price on Eaton from $306.00 to $323.00 and gave the company an “equal weight” rating in a report on Monday. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $355.00 target price on shares of Eaton in a report on Monday, May 5th. Evercore ISI lifted their price objective on Eaton from $326.00 to $349.00 and gave the stock an “in-line” rating in a report on Monday, May 19th. BNP Paribas Exane assumed 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. Finally, Morgan Stanley lowered their price objective 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 analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Eaton presently has an average rating of “Moderate Buy” and a consensus target price of $368.78.

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.