Eaton Co. plc (NYSE:ETN) Shares Acquired by Capital Advisors Ltd. LLC

Capital Advisors Ltd. LLC lifted its holdings in shares of Eaton Co. plc (NYSE:ETN) by 31.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,091 shares of the industrial products company’s stock after buying an additional 502 shares during the quarter. Capital Advisors Ltd. LLC’s holdings in Eaton were worth $568,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in ETN. Capital A Wealth Management LLC acquired a new position in shares of Eaton during the 4th quarter worth approximately $26,000. Flagship Wealth Advisors LLC acquired a new position in Eaton in the 4th quarter valued at $27,000. Noble Wealth Management PBC acquired a new position in Eaton in the 4th quarter valued at $30,000. Murphy & Mullick Capital Management Corp acquired a new position in Eaton in the 4th quarter valued at $33,000. Finally, Vermillion Wealth Management Inc. acquired a new position in Eaton in the 4th quarter valued at $33,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Royal Bank of Canada increased their price objective on Eaton from $336.00 to $356.00 and gave the company an “outperform” rating in a research note on Monday, May 5th. Evercore ISI increased their price objective on Eaton from $326.00 to $349.00 and gave the company an “in-line” rating in a research note on Monday, May 19th. BNP Paribas Exane assumed coverage on Eaton in a research note on Thursday, May 15th. They issued an “outperform” rating and a $380.00 price objective for the company. KeyCorp increased their price objective on Eaton from $325.00 to $355.00 and gave the company an “overweight” rating in a research note on Monday, May 5th. Finally, Barclays raised their target price on Eaton from $306.00 to $323.00 and gave the stock an “equal weight” rating in a research note on Monday. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $368.78.

Insider Activity

In other news, insider Craig Arnold sold 51,054 shares of Eaton stock in a transaction dated 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. This trade represents a 9.45% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Michael Yelton sold 2,120 shares of Eaton stock in a transaction dated 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 $1,004,014.34. The trade was a 38.53% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 156,660 shares of company stock worth $49,622,894. 0.30% of the stock is currently owned by company insiders.

Eaton Stock Performance

Shares of Eaton stock opened at $325.56 on Thursday. The business has a 50-day moving average of $301.79 and a 200 day moving average of $315.72. Eaton Co. plc has a 12 month low of $231.85 and a 12 month high of $379.99. The stock has a market capitalization of $127.39 billion, a price-to-earnings ratio of 34.27, a price-to-earnings-growth 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.

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

Eaton Announces Dividend

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