Retirement Guys Formula LLC Makes New $1.83 Million Investment in Eaton Corporation, PLC (NYSE:ETN)

Retirement Guys Formula LLC bought a new stake in Eaton Corporation, PLC (NYSE:ETN) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 6,738 shares of the industrial products company’s stock, valued at approximately $1,832,000. Eaton makes up approximately 0.9% of Retirement Guys Formula LLC’s portfolio, making the stock its 28th largest position.

Other institutional investors and hedge funds also recently modified their holdings of the company. Capital A Wealth Management LLC bought a new stake in shares of Eaton during the 4th quarter worth $26,000. Flagship Wealth Advisors LLC purchased a new stake in Eaton during the fourth quarter worth about $27,000. Noble Wealth Management PBC bought a new stake in Eaton in the fourth quarter worth about $30,000. Murphy & Mullick Capital Management Corp purchased a new position in Eaton in the fourth quarter valued at about $33,000. Finally, Vermillion Wealth Management Inc. bought a new position in shares of Eaton during the 4th quarter valued at approximately $33,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on ETN. KeyCorp lifted their price target on shares of Eaton from $325.00 to $355.00 and gave the stock an “overweight” rating in a report on Monday, May 5th. BNP Paribas assumed coverage on Eaton in a research note on Thursday, May 15th. They issued an “outperform” rating and a $380.00 target price on the stock. Evercore ISI increased their price target on Eaton from $326.00 to $349.00 and gave the stock an “in-line” rating in a research note on Monday, May 19th. Wells Fargo & Company reissued an “overweight” rating and issued a $355.00 price objective on shares of Eaton in a report on Monday, May 5th. Finally, Barclays upped their price objective on shares of Eaton from $306.00 to $323.00 and gave the company an “equal weight” rating in a report on Monday, June 9th. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $368.78.

Insider Transactions at Eaton

In other news, insider Craig Arnold sold 51,054 shares of the company’s stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $305.43, for a total value of $15,593,423.22. Following the completion of the sale, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael Yelton sold 2,120 shares of the business’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total transaction of $629,364.40. Following the completion of the sale, the insider now directly 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 sold 156,660 shares of company stock worth $49,622,894. 0.30% of the stock is currently owned by corporate insiders.

Eaton Trading Up 0.6%

Shares of ETN stock opened at $333.29 on Tuesday. The company has a market capitalization 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 Corporation, PLC has a 52-week low of $231.85 and a 52-week high of $379.99. The business’s fifty day moving average is $311.91 and its 200 day moving average is $312.55. 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 (NYSE:ETN) last released its quarterly earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.70 by $0.02. The firm had revenue of $6.38 billion for the quarter, compared to analysts’ expectations of $6.26 billion. Eaton had a return on equity of 23.41% and a net margin of 15.55%. The company’s revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.40 EPS. On average, equities research analysts anticipate that Eaton Corporation, PLC will post 12.02 EPS for the current fiscal year.

Eaton Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 1.25%. The ex-dividend date was Monday, May 5th. Eaton’s dividend payout ratio (DPR) is currently 41.98%.

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.