Eaton Corporation, PLC (NYSE:ETN) Shares Bought by Community Financial Services Group LLC

Community Financial Services Group LLC grew its position in shares of Eaton Corporation, PLC (NYSE:ETN) by 8.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,145 shares of the industrial products company’s stock after acquiring an additional 2,308 shares during the quarter. Eaton comprises 1.7% of Community Financial Services Group LLC’s portfolio, making the stock its 17th biggest position. Community Financial Services Group LLC’s holdings in Eaton were worth $7,651,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Petros Family Wealth LLC increased its stake in Eaton by 11.5% during the first quarter. Petros Family Wealth LLC now owns 1,482 shares of the industrial products company’s stock worth $403,000 after acquiring an additional 153 shares during the last quarter. YHB Investment Advisors Inc. increased its stake in Eaton by 9.2% during the first quarter. YHB Investment Advisors Inc. now owns 17,849 shares of the industrial products company’s stock worth $4,852,000 after acquiring an additional 1,507 shares during the last quarter. Consolidated Portfolio Review Corp grew its stake in shares of Eaton by 48.6% in the first quarter. Consolidated Portfolio Review Corp now owns 942 shares of the industrial products company’s stock valued at $256,000 after buying an additional 308 shares in the last quarter. Palisade Asset Management LLC grew its stake in shares of Eaton by 21.6% in the first quarter. Palisade Asset Management LLC now owns 1,102 shares of the industrial products company’s stock valued at $300,000 after buying an additional 196 shares in the last quarter. Finally, Legacy Advisors LLC grew its stake in shares of Eaton by 6.5% in the first quarter. Legacy Advisors LLC now owns 2,530 shares of the industrial products company’s stock valued at $688,000 after buying an additional 154 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Eaton Price Performance

Shares of NYSE ETN opened at $333.29 on Tuesday. The company has a quick ratio of 0.84, a current ratio of 1.31 and a debt-to-equity ratio of 0.41. The business has a 50 day moving average price of $311.91 and a two-hundred day moving average price of $312.55. Eaton Corporation, PLC has a fifty-two week low of $231.85 and a fifty-two week high of $379.99. The firm has a market cap of $130.42 billion, a PE ratio of 33.63, a price-to-earnings-growth ratio of 2.57 and a beta of 1.16.

Eaton (NYSE:ETN) last released its earnings results on Friday, May 2nd. The industrial products company reported $2.72 EPS for the quarter, topping analysts’ consensus estimates 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 quarter last year, the business posted $2.40 EPS. Eaton’s quarterly revenue was up 7.3% compared to the same quarter last year. Sell-side analysts expect that Eaton Corporation, PLC will post 12.02 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The company also recently announced 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. This represents a $4.16 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date was Monday, May 5th. Eaton’s dividend payout ratio is presently 41.98%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on ETN shares. Jefferies Financial Group lowered their target price on Eaton from $390.00 to $335.00 and set a “buy” rating for the company in a research note on Wednesday, March 12th. Royal Bank Of Canada increased their target price on Eaton from $336.00 to $356.00 and gave the company an “outperform” rating in a research note on Monday, May 5th. Citigroup increased their target price on Eaton from $323.00 to $351.00 and gave the company a “buy” rating in a research note on Monday, May 5th. JPMorgan Chase & Co. increased their target price on Eaton from $300.00 to $360.00 and gave the company an “overweight” rating in a research note on Friday, May 16th. Finally, Wells Fargo & Company reiterated an “overweight” rating and issued a $355.00 target price on shares of Eaton in a research note on Monday, May 5th. 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.com, the company presently has an average rating of “Moderate Buy” and an average price target of $368.78.

Insiders Place Their Bets

In related news, insider Michael Yelton sold 2,120 shares of the firm’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 sale, the insider now owns 3,382 shares of the company’s stock, valued at approximately $1,004,014.34. This trade represents a 38.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Craig Arnold sold 103,486 shares of the firm’s stock in a transaction 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 in the company, valued at $158,214,632. The trade was a 17.43% 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 quarter. Insiders own 0.30% of the company’s stock.

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.