Eaton Co. plc (NYSE:ETN) Holdings Boosted by Dover Advisors LLC

Dover Advisors LLC boosted its stake in Eaton Co. plc (NYSE:ETN) by 15.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,527 shares of the industrial products company’s stock after purchasing an additional 1,811 shares during the period. Eaton comprises 1.6% of Dover Advisors LLC’s investment portfolio, making the stock its 10th largest position. Dover Advisors LLC’s holdings in Eaton were worth $3,677,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Opal Wealth Advisors LLC increased its stake in Eaton by 16.6% in the 1st quarter. Opal Wealth Advisors LLC now owns 851 shares of the industrial products company’s stock worth $231,000 after purchasing an additional 121 shares during the period. Robbins Farley increased its stake in Eaton by 0.9% in the 1st quarter. Robbins Farley now owns 11,539 shares of the industrial products company’s stock worth $3,137,000 after purchasing an additional 107 shares during the period. Tritonpoint Wealth LLC increased its stake in Eaton by 3.9% in the 1st quarter. Tritonpoint Wealth LLC now owns 1,038 shares of the industrial products company’s stock worth $282,000 after purchasing an additional 39 shares during the period. Azzad Asset Management Inc. ADV increased its stake in Eaton by 1.4% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 10,020 shares of the industrial products company’s stock worth $2,724,000 after purchasing an additional 140 shares during the period. Finally, Goldstone Financial Group LLC grew its position in shares of Eaton by 24.9% in the 1st quarter. Goldstone Financial Group LLC now owns 1,756 shares of the industrial products company’s stock worth $477,000 after buying an additional 350 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Wall Street Zen upgraded Eaton from a “hold” rating to a “buy” rating in a research report on Sunday, May 18th. Barclays lifted their price objective on Eaton from $306.00 to $323.00 and gave the stock an “equal weight” rating in a research report on Monday, June 9th. BNP Paribas Exane started coverage on Eaton in a research report on Thursday, May 15th. They set an “outperform” rating and a $380.00 price target on the stock. Royal Bank of Canada lifted their price target on Eaton from $336.00 to $356.00 and gave the company an “outperform” rating in a research report on Monday, May 5th. Finally, Morgan Stanley dropped their price target 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 investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, Eaton has a consensus rating of “Moderate Buy” and an average price target of $368.78.

Insider Transactions at Eaton

In other Eaton news, insider Michael Yelton sold 2,120 shares of the business’s stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total transaction of $629,364.40. Following the completion of the sale, the insider now directly owns 3,382 shares in the company, valued at $1,004,014.34. The trade was a 38.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Craig Arnold sold 103,486 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 490,208 shares of the company’s stock, valued at approximately $158,214,632. This represents a 17.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 156,660 shares of company stock worth $49,622,894 over the last quarter. 0.30% of the stock is currently owned by insiders.

Eaton Trading Down 2.1%

Eaton stock opened at $323.26 on Friday. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. The business’s fifty day simple moving average is $304.79 and its two-hundred day simple moving average is $315.02. Eaton Co. plc has a 12 month low of $231.85 and a 12 month high of $379.99. The company has a market capitalization of $126.49 billion, a price-to-earnings ratio of 34.03, a price-to-earnings-growth ratio of 2.64 and a beta of 1.16.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $6.26 billion. During the same quarter in the previous year, the business earned $2.40 earnings per share. The company’s revenue was up 7.3% on a year-over-year basis. As a group, equities analysts predict that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The firm also recently declared 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 1.29%. The ex-dividend date was Monday, May 5th. Eaton’s dividend payout ratio is currently 41.98%.

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.