Eaton Corporation, PLC (NYSE:ETN) Shares Acquired by YHB Investment Advisors Inc.

YHB Investment Advisors Inc. lifted its stake in shares of Eaton Corporation, PLC (NYSE:ETN) by 9.2% during the first quarter, Holdings Channel reports. The fund owned 17,849 shares of the industrial products company’s stock after purchasing an additional 1,507 shares during the quarter. YHB Investment Advisors Inc.’s holdings in Eaton were worth $4,852,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in ETN. Norges Bank acquired a new stake in Eaton in the 4th quarter worth about $1,495,582,000. GAMMA Investing LLC boosted its stake in Eaton by 27,281.9% in the 1st quarter. GAMMA Investing LLC now owns 3,593,321 shares of the industrial products company’s stock worth $976,772,000 after buying an additional 3,580,198 shares during the last quarter. Capital International Investors acquired a new stake in Eaton in the 4th quarter worth about $523,541,000. Proficio Capital Partners LLC boosted its stake in Eaton by 42,255.3% in the 4th quarter. Proficio Capital Partners LLC now owns 732,323 shares of the industrial products company’s stock worth $243,036,000 after buying an additional 730,594 shares during the last quarter. Finally, Leigh Baldwin & CO. LLC acquired a new stake in Eaton in the 4th quarter worth about $231,552,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Michael Yelton sold 2,120 shares of the business’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total value of $629,364.40. Following the completion of the sale, the insider now directly owns 3,382 shares in the company, valued at approximately $1,004,014.34. The trade was a 38.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 sale, the insider now owns 490,208 shares of the company’s stock, valued at $158,214,632. This trade represents a 17.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 156,660 shares of company stock worth $49,622,894 in the last three months. 0.30% of the stock is owned by insiders.

Eaton Stock Performance

Shares of NYSE:ETN opened at $333.29 on Tuesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.84 and a current ratio of 1.31. Eaton Corporation, PLC has a one year low of $231.85 and a one year high of $379.99. The business’s 50-day simple moving average is $311.91 and its 200 day simple moving average is $312.55. The company has a market cap of $130.42 billion, a P/E ratio of 33.63, a PEG ratio of 2.57 and a beta of 1.16.

Eaton (NYSE:ETN) last posted its quarterly earnings data 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 23.41% and a net margin of 15.55%. The company 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 business earned $2.40 EPS. Eaton’s revenue for the quarter was up 7.3% compared to the same quarter last year. On average, sell-side analysts forecast that Eaton Corporation, PLC will post 12.02 earnings per share for the current fiscal year.

Eaton Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were issued 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 yield of 1.25%. Eaton’s dividend payout ratio is presently 41.98%.

Wall Street Analyst Weigh In

ETN has been the topic of a number of research analyst reports. KeyCorp raised their price target on Eaton from $325.00 to $355.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th. JPMorgan Chase & Co. lifted 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 initiated 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. Royal Bank Of Canada lifted their price objective on Eaton from $336.00 to $356.00 and gave the company an “outperform” rating in a research note on Monday, May 5th. Finally, Wall Street Zen raised Eaton from a “hold” rating to a “buy” rating in a research note on Sunday, May 18th. 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, the company has a consensus rating of “Moderate Buy” and an average price target of $368.78.

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.