Integrated Advisors Network LLC Increases Stake in Eaton Co. plc (NYSE:ETN)

Integrated Advisors Network LLC lifted its stake in Eaton Co. plc (NYSE:ETN) by 3.9% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,780 shares of the industrial products company’s stock after buying an additional 219 shares during the quarter. Integrated Advisors Network LLC’s holdings in Eaton were worth $1,571,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Franklin Street Advisors Inc. NC boosted its stake in Eaton by 2.2% during the first quarter. Franklin Street Advisors Inc. NC now owns 48,191 shares of the industrial products company’s stock valued at $13,100,000 after buying an additional 1,016 shares during the last quarter. Trueblood Wealth Management LLC raised its holdings in shares of Eaton by 13.3% during the 1st quarter. Trueblood Wealth Management LLC now owns 1,904 shares of the industrial products company’s stock worth $518,000 after acquiring an additional 224 shares in the last quarter. Moseley Investment Management Inc. boosted its position in shares of Eaton by 15.3% during the 1st quarter. Moseley Investment Management Inc. now owns 24,023 shares of the industrial products company’s stock valued at $6,530,000 after acquiring an additional 3,190 shares during the last quarter. Sanibel Captiva Trust Company Inc. grew its holdings in shares of Eaton by 14.4% in the first quarter. Sanibel Captiva Trust Company Inc. now owns 5,725 shares of the industrial products company’s stock valued at $1,556,000 after purchasing an additional 719 shares in the last quarter. Finally, Sonora Investment Management Group LLC increased its position in Eaton by 8.9% in the first quarter. Sonora Investment Management Group LLC now owns 2,171 shares of the industrial products company’s stock worth $590,000 after purchasing an additional 177 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

ETN has been the subject of a number of recent research reports. Evercore ISI lifted their price objective on shares of Eaton from $326.00 to $349.00 and gave the stock an “in-line” rating in a research note on Monday, May 19th. Citigroup lifted their price target on Eaton from $323.00 to $351.00 and gave the stock a “buy” rating in a research report on Monday, May 5th. KeyCorp upped their price objective on Eaton from $325.00 to $355.00 and gave the company an “overweight” rating in a research report on Monday, May 5th. BNP Paribas Exane initiated 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. Finally, Barclays boosted their target price on Eaton from $306.00 to $323.00 and gave the company an “equal weight” rating in a research report on Monday. 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, Eaton presently has an average rating of “Moderate Buy” and an average price target of $368.78.

Eaton Trading Up 1.3%

Shares of ETN opened at $330.09 on Friday. The firm has a market capitalization of $129.16 billion, a price-to-earnings ratio of 34.75, a PEG 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 Co. plc has a 1-year low of $231.85 and a 1-year high of $379.99. The company has a 50-day moving average of $303.34 and a 200 day moving average of $315.40.

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

Eaton Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were issued a $1.04 dividend. The ex-dividend date of this dividend was Monday, May 5th. This represents a $4.16 annualized dividend and a dividend yield of 1.26%. Eaton’s payout ratio is currently 41.98%.

Insider Buying and Selling

In related news, insider Craig Arnold sold 103,486 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $322.75, for a total value of $33,400,106.50. Following the completion of the transaction, the insider now owns 490,208 shares of the company’s stock, valued at $158,214,632. The trade was a 17.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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 in the company, valued at $1,004,014.34. This represents a 38.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 156,660 shares of company stock valued at $49,622,894 over the last three months. 0.30% of the stock is owned by company insiders.

About Eaton

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.