Continuum Advisory LLC Has $2.70 Million Holdings in Eaton Corporation, PLC (NYSE:ETN)

Continuum Advisory LLC raised its holdings in shares of Eaton Corporation, PLC (NYSE:ETN) by 54.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,943 shares of the industrial products company’s stock after purchasing an additional 3,498 shares during the period. Continuum Advisory LLC’s holdings in Eaton were worth $2,703,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in ETN. Norges Bank acquired a new position in Eaton in the fourth quarter valued at about $1,495,582,000. GAMMA Investing LLC lifted its stake in Eaton by 27,281.9% in the first quarter. GAMMA Investing LLC now owns 3,593,321 shares of the industrial products company’s stock valued at $976,772,000 after buying an additional 3,580,198 shares during the period. Capital International Investors acquired a new position in Eaton in the fourth quarter valued at about $523,541,000. Proficio Capital Partners LLC lifted its stake in Eaton by 42,255.3% in the fourth quarter. Proficio Capital Partners LLC now owns 732,323 shares of the industrial products company’s stock valued at $243,036,000 after buying an additional 730,594 shares during the period. Finally, Leigh Baldwin & CO. LLC acquired a new position in Eaton in the fourth quarter valued at about $231,552,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Eaton

In related news, insider Michael Yelton sold 2,120 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total transaction of $629,364.40. Following the sale, the insider now owns 3,382 shares in the company, valued at approximately $1,004,014.34. This trade represents a 38.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Craig Arnold sold 51,054 shares of the firm’s stock in a transaction that occurred on Thursday, May 8th. The shares were 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 owns 489,444 shares in the company, valued at approximately $149,490,880.92. The trade was a 9.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 156,660 shares of company stock valued at $49,622,894 in the last ninety days. 0.30% of the stock is currently owned by corporate insiders.

Eaton Price Performance

NYSE:ETN opened at $331.34 on Monday. Eaton Corporation, PLC has a one year low of $231.85 and a one year high of $379.99. The company has a market cap of $129.65 billion, a P/E ratio of 33.43, a P/E/G ratio of 2.57 and a beta of 1.16. The firm’s fifty day moving average price is $310.79 and its two-hundred day moving average price is $312.81. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.31 and a quick ratio of 0.84.

Eaton (NYSE:ETN) last released its quarterly earnings data on Friday, May 2nd. The industrial products company reported $2.72 EPS for the quarter, beating the consensus estimate of $2.70 by $0.02. Eaton had a net margin of 15.55% and a return on equity of 23.41%. The firm had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.26 billion. During the same period in the previous year, the company earned $2.40 earnings per share. The company’s quarterly revenue was up 7.3% on a year-over-year basis. Equities analysts expect that Eaton Corporation, PLC will post 12.02 earnings per share for the current year.

Eaton Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. KeyCorp boosted their target price on Eaton from $325.00 to $355.00 and gave the company an “overweight” rating in a research note on Monday, May 5th. 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. Evercore ISI raised their price target on Eaton from $326.00 to $349.00 and gave the stock an “in-line” rating in a research report on Monday, May 19th. Barclays raised their price target on Eaton from $306.00 to $323.00 and gave the stock an “equal weight” rating in a research report on Monday, June 9th. Finally, 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 note on Monday, May 5th. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $368.78.

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.