Eaton Co. plc (NYSE:ETN) Shares Bought by Traphagen Investment Advisors LLC

Traphagen Investment Advisors LLC increased its position in Eaton Co. plc (NYSE:ETN) by 2.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,995 shares of the industrial products company’s stock after buying an additional 50 shares during the quarter. Traphagen Investment Advisors LLC’s holdings in Eaton were worth $542,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Capital A Wealth Management LLC acquired a new stake in shares of Eaton in the fourth quarter valued at $26,000. Flagship Wealth Advisors LLC acquired a new stake in shares of Eaton in the fourth quarter valued at $27,000. Noble Wealth Management PBC acquired a new stake in shares of Eaton in the fourth quarter valued at $30,000. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Eaton in the fourth quarter valued at $33,000. Finally, Vermillion Wealth Management Inc. acquired a new stake in shares of Eaton in the fourth quarter valued at $33,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Activity

In other 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 transaction, the insider now owns 489,444 shares of the company’s stock, valued at approximately $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 accessible 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 transaction, the insider now directly owns 3,382 shares in the company, valued at approximately $1,004,014.34. This represents a 38.53% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 156,660 shares of company stock valued at $49,622,894. Insiders own 0.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Evercore ISI upped their price objective on Eaton from $326.00 to $349.00 and gave the company an “in-line” rating in a report on Monday, May 19th. Royal Bank of Canada upped their target price on Eaton from $336.00 to $356.00 and gave the company an “outperform” rating in a report on Monday, May 5th. JPMorgan Chase & Co. upped their target price on Eaton from $300.00 to $360.00 and gave the company an “overweight” rating in a report on Friday, May 16th. Barclays upped their target price on Eaton from $306.00 to $323.00 and gave the company an “equal weight” rating in a report on Monday, June 9th. Finally, BNP Paribas assumed coverage on Eaton in a report on Thursday, May 15th. They set an “outperform” rating and a $380.00 target price for the company. Five research 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 currently has a consensus rating of “Moderate Buy” and a consensus price target of $368.78.

Eaton Stock Performance

Shares of ETN stock opened at $323.26 on Monday. 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 fifty-two week low of $231.85 and a fifty-two week high of $379.99. The stock’s 50-day moving average is $304.79 and its two-hundred day moving average is $314.23. The firm has a market cap of $126.49 billion, a P/E ratio of 34.03, a PEG ratio of 2.64 and a beta of 1.16.

Eaton (NYSE:ETN) last issued its 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 company had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.26 billion. During the same period in the prior year, the firm posted $2.40 EPS. The business’s revenue was up 7.3% compared to the same quarter last year. Analysts predict that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Dividend Announcement

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

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.