Eaton Co. plc (NYSE:ETN) Shares Purchased by Focus Financial Network Inc.

Focus Financial Network Inc. increased its position in shares of Eaton Co. plc (NYSE:ETN) by 6.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,744 shares of the industrial products company’s stock after acquiring an additional 106 shares during the period. Focus Financial Network Inc.’s holdings in Eaton were worth $474,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of ETN. Brighton Jones LLC increased its holdings in Eaton by 1.4% in the fourth quarter. Brighton Jones LLC now owns 3,341 shares of the industrial products company’s stock valued at $1,109,000 after purchasing an additional 45 shares during the last quarter. Revolve Wealth Partners LLC lifted its holdings in Eaton by 17.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 913 shares of the industrial products company’s stock worth $303,000 after purchasing an additional 136 shares during the last quarter. Stonebridge Financial Group LLC bought a new position in Eaton during the 4th quarter worth $65,000. Van ECK Associates Corp bought a new position in Eaton during the 4th quarter worth $22,022,000. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors increased its stake in shares of Eaton by 46.9% in the 4th quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 3,365 shares of the industrial products company’s stock valued at $1,117,000 after purchasing an additional 1,074 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Jefferies Financial Group decreased their price target on Eaton from $390.00 to $335.00 and set a “buy” rating on the stock in a research note on Wednesday, March 12th. Wall Street Zen raised Eaton from a “hold” rating to a “buy” rating in a report on Sunday, May 18th. JPMorgan Chase & Co. boosted their price objective on Eaton from $300.00 to $360.00 and gave the company an “overweight” rating in a research note on Friday, May 16th. BNP Paribas Exane started coverage on Eaton in a research note on Thursday, May 15th. They issued an “outperform” rating and a $380.00 price objective on the stock. Finally, Morgan Stanley dropped their price objective on Eaton from $385.00 to $375.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 6th. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, Eaton has an average rating of “Moderate Buy” and an average target price of $368.78.

Eaton Price Performance

Eaton stock opened at $323.26 on Friday. Eaton Co. plc has a 12 month low of $231.85 and a 12 month high of $379.99. 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 50 day simple moving average is $304.79 and its 200 day simple moving average is $315.02. The company has a market cap of $126.49 billion, a price-to-earnings ratio of 34.03, a PEG ratio of 2.64 and a beta of 1.16.

Eaton (NYSE:ETN) last posted its earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $6.26 billion. During the same quarter in the prior year, the business posted $2.40 earnings per share. The business’s quarterly revenue was up 7.3% on a year-over-year basis. Sell-side analysts forecast that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 5th were given a dividend of $1.04 per share. The ex-dividend date of this dividend was Monday, May 5th. This represents a $4.16 annualized dividend and a dividend yield of 1.29%. Eaton’s dividend payout ratio (DPR) is presently 41.98%.

Insider Activity

In related news, insider Craig Arnold sold 51,054 shares of the stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $305.43, for a total transaction of $15,593,423.22. Following the completion of the sale, the insider now directly owns 489,444 shares in the company, valued at $149,490,880.92. This represents a 9.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Michael Yelton sold 2,120 shares of the 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 sale, the insider now owns 3,382 shares of the company’s stock, 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. In the last three months, insiders have sold 156,660 shares of company stock worth $49,622,894. 0.30% of the stock is currently owned by insiders.

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.