Eaton Corporation, PLC (NYSE:ETN) Shares Acquired by Signet Investment Advisory Group Inc.

Signet Investment Advisory Group Inc. grew its holdings in Eaton Corporation, PLC (NYSE:ETN) by 6.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,691 shares of the industrial products company’s stock after buying an additional 366 shares during the period. Signet Investment Advisory Group Inc.’s holdings in Eaton were worth $1,547,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital A Wealth Management LLC acquired a new stake in Eaton during the fourth quarter worth about $26,000. Creative Financial Designs Inc. ADV increased its position in Eaton by 102.0% during the first quarter. Creative Financial Designs Inc. ADV now owns 101 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 51 shares during the last quarter. Murphy & Mullick Capital Management Corp acquired a new stake in Eaton during the fourth quarter worth about $33,000. Vermillion Wealth Management Inc. acquired a new stake in Eaton during the fourth quarter worth about $33,000. Finally, Abound Wealth Management increased its position in Eaton by 73.8% during the first quarter. Abound Wealth Management now owns 146 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 62 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have weighed in on ETN. JPMorgan Chase & Co. increased their target price on shares of Eaton from $300.00 to $360.00 and gave the stock an “overweight” rating in a research note on Friday, May 16th. Sanford C. Bernstein reissued an “outperform” rating and issued a $396.00 price objective on shares of Eaton in a research note on Monday, July 14th. Citigroup raised their price objective on shares of Eaton from $351.00 to $420.00 and gave the company a “buy” rating in a research note on Monday, July 14th. Royal Bank Of Canada raised their price objective on shares of Eaton from $336.00 to $356.00 and gave the company an “outperform” rating in a research note on Monday, May 5th. Finally, The Goldman Sachs Group raised their price objective on shares of Eaton from $345.00 to $382.00 and gave the company a “buy” rating in a research note on Tuesday, July 8th. Six equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $377.89.

Eaton Price Performance

Shares of ETN opened at $378.89 on Friday. The firm has a market capitalization of $148.26 billion, a price-to-earnings ratio of 38.23, a price-to-earnings-growth ratio of 2.86 and a beta of 1.17. 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 $384.51. The stock’s fifty day moving average is $339.29 and its 200-day moving average is $314.69.

Eaton (NYSE:ETN) last posted its quarterly earnings data 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. Eaton had a net margin of 15.55% and a return on equity of 23.41%. The company had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.26 billion. During the same quarter last year, the firm posted $2.40 EPS. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. Equities analysts anticipate that Eaton Corporation, PLC will post 12.02 EPS for the current 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 given a dividend of $1.04 per share. The ex-dividend date of this dividend was Monday, May 5th. This represents a $4.16 dividend on an annualized basis and a yield of 1.10%. Eaton’s payout ratio is presently 41.98%.

Insider Transactions at Eaton

In other Eaton news, insider Craig Arnold sold 103,486 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider directly owned 490,208 shares in the company, valued at approximately $158,214,632. This trade represents a 17.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Michael Yelton sold 2,120 shares of the firm’s stock in a transaction dated 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 of the company’s stock, 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 valued at $49,622,894 over the last 90 days. Corporate insiders own 0.30% of the company’s stock.

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.