Sigma Planning Corp Purchases 1,232 Shares of Eaton Corporation, PLC (NYSE:ETN)

Sigma Planning Corp grew its position in shares of Eaton Corporation, PLC (NYSE:ETN) by 10.3% in the 1st quarter, Holdings Channel reports. The firm owned 13,188 shares of the industrial products company’s stock after acquiring an additional 1,232 shares during the quarter. Sigma Planning Corp’s holdings in Eaton were worth $3,585,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in ETN. Capital A Wealth Management LLC acquired a new stake in shares of Eaton during the 4th quarter worth approximately $26,000. Flagship Wealth Advisors LLC acquired a new stake in shares of Eaton during the 4th quarter worth approximately $27,000. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Eaton during the 4th quarter worth approximately $33,000. Vermillion Wealth Management Inc. acquired a new stake in shares of Eaton during the 4th quarter worth approximately $33,000. Finally, Creative Financial Designs Inc. ADV grew its position 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. Institutional investors own 82.97% of the company’s stock.

Insiders Place Their Bets

In other news, insider Craig Arnold sold 103,486 shares of Eaton stock in a transaction on Monday, May 12th. The stock was sold at an average price of $322.75, for a total transaction of $33,400,106.50. Following the sale, the insider directly owned 490,208 shares in the company, valued at $158,214,632. The trade was a 17.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Michael Yelton sold 2,120 shares of Eaton stock in a transaction 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 owned 3,382 shares in the company, valued at $1,004,014.34. The trade was a 38.53% 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 worth $49,622,894 over the last quarter. Company insiders own 0.30% of the company’s stock.

Wall Street Analysts Forecast Growth

ETN has been the subject of several recent analyst reports. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $396.00 price objective on shares of Eaton in a research report on Monday. Wells Fargo & Company lifted their price target on shares of Eaton from $310.00 to $360.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 1st. Citigroup lifted their price target on shares of Eaton from $351.00 to $420.00 and gave the company a “buy” rating in a research report on Monday. Evercore ISI lifted their price target on shares of Eaton from $326.00 to $349.00 and gave the company an “in-line” rating in a research report on Monday, May 19th. Finally, Wall Street Zen raised shares of Eaton from a “hold” rating to a “buy” rating in a research report on Saturday, July 5th. Six equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $375.00.

Eaton Price Performance

ETN opened at $360.32 on Tuesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.31 and a quick ratio of 0.84. The company has a market capitalization of $140.99 billion, a price-to-earnings ratio of 36.36, a P/E/G ratio of 2.72 and a beta of 1.17. The firm’s fifty day moving average price is $333.96 and its two-hundred day moving average price is $313.47. Eaton Corporation, PLC has a 1 year low of $231.85 and a 1 year high of $379.99.

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. The company 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 business’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the previous year, the business posted $2.40 EPS. As a group, analysts anticipate that Eaton Corporation, PLC will post 12.02 earnings per share for the current fiscal year.

Eaton Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 5th were paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date of this dividend was Monday, May 5th. Eaton’s payout ratio is 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.