Perpetual Ltd Has $1.34 Million Stock Holdings in Eaton Corporation, PLC (NYSE:ETN)

Perpetual Ltd lifted its position in shares of Eaton Corporation, PLC (NYSE:ETN) by 15.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,930 shares of the industrial products company’s stock after purchasing an additional 645 shares during the period. Perpetual Ltd’s holdings in Eaton were worth $1,340,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. PDS Planning Inc increased its stake in shares of Eaton by 1.9% during the 1st quarter. PDS Planning Inc now owns 6,328 shares of the industrial products company’s stock worth $1,720,000 after purchasing an additional 117 shares during the last quarter. Balefire LLC boosted its holdings in shares of Eaton by 69.1% during the 1st quarter. Balefire LLC now owns 6,271 shares of the industrial products company’s stock worth $1,705,000 after buying an additional 2,562 shares during the period. KPP Advisory Services LLC boosted its holdings in shares of Eaton by 15.3% during the 1st quarter. KPP Advisory Services LLC now owns 2,247 shares of the industrial products company’s stock worth $611,000 after buying an additional 298 shares during the period. Creative Financial Designs Inc. ADV boosted its holdings in shares of Eaton by 102.0% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 101 shares of the industrial products company’s stock worth $27,000 after buying an additional 51 shares during the period. Finally, Nova R Wealth Inc. boosted its holdings in shares of Eaton by 12.2% during the 1st quarter. Nova R Wealth Inc. now owns 939 shares of the industrial products company’s stock worth $255,000 after buying an additional 102 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Eaton Stock Performance

Shares of Eaton stock opened at $353.74 on Friday. The company has a 50 day moving average of $318.04 and a 200-day moving average of $312.83. Eaton Corporation, PLC has a 1-year low of $231.85 and a 1-year high of $379.99. The company has a current ratio of 1.31, a quick ratio of 0.84 and a debt-to-equity ratio of 0.41. The company has a market cap of $138.42 billion, a PE ratio of 35.70, a price-to-earnings-growth ratio of 2.70 and a beta of 1.16.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share for the quarter, topping analysts’ consensus estimates of $2.70 by $0.02. The company had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.26 billion. Eaton had a net margin of 15.55% and a return on equity of 23.41%. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.40 EPS. As a group, equities research analysts forecast that Eaton Corporation, PLC will post 12.02 earnings per share for the current fiscal year.

Eaton Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend was Monday, May 5th. Eaton’s dividend payout ratio is 41.98%.

Insider Buying and Selling

In other Eaton news, insider Craig Arnold sold 51,054 shares of the company’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 value of $15,593,423.22. Following the completion of the transaction, the insider now directly owns 489,444 shares in the company, 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 can be accessed through this link. Also, insider Michael Yelton sold 2,120 shares of the company’s 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 completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 156,660 shares of company stock worth $49,622,894 in the last three months. 0.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently commented on ETN shares. Jefferies Financial Group reduced their target price on shares of Eaton from $390.00 to $335.00 and set a “buy” rating for the company in a report on Wednesday, March 12th. Citigroup lifted their target price on shares of Eaton from $323.00 to $351.00 and gave the stock a “buy” rating in a report on Monday, May 5th. Wall Street Zen raised shares of Eaton from a “hold” rating to a “buy” rating in a report on Sunday, May 18th. Barclays boosted 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. Finally, Evercore ISI boosted their price objective on shares of Eaton from $326.00 to $349.00 and gave the company an “in-line” rating in a report on Monday, May 19th. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, Eaton presently has a consensus rating of “Moderate Buy” and a consensus price target of $368.78.

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.