3,043 Shares in Eaton Corporation, PLC (NYSE:ETN) Bought by Advisor Resource Council

Advisor Resource Council purchased a new position in shares of Eaton Corporation, PLC (NYSE:ETN) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 3,043 shares of the industrial products company’s stock, valued at approximately $827,000.

Several other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Eaton by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 37,217,906 shares of the industrial products company’s stock worth $12,351,506,000 after purchasing an additional 99,291 shares during the period. FMR LLC lifted its holdings in Eaton by 1.2% in the fourth quarter. FMR LLC now owns 15,222,248 shares of the industrial products company’s stock valued at $5,051,807,000 after acquiring an additional 182,455 shares during the period. Geode Capital Management LLC lifted its holdings in Eaton by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 8,198,412 shares of the industrial products company’s stock valued at $2,714,677,000 after acquiring an additional 129,071 shares during the period. Nuveen Asset Management LLC lifted its holdings in Eaton by 4.3% in the fourth quarter. Nuveen Asset Management LLC now owns 4,671,185 shares of the industrial products company’s stock valued at $1,550,226,000 after acquiring an additional 192,482 shares during the period. Finally, Northern Trust Corp lifted its holdings in Eaton by 8.8% in the fourth quarter. Northern Trust Corp now owns 4,574,704 shares of the industrial products company’s stock valued at $1,518,207,000 after acquiring an additional 368,241 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Eaton Trading Down 1.1%

Shares of ETN stock opened at $331.34 on Friday. The firm has a 50-day moving average price of $310.79 and a 200 day moving average price of $313.22. Eaton Corporation, PLC has a twelve month low of $231.85 and a twelve month high of $379.99. The company has a market capitalization of $129.65 billion, a price-to-earnings ratio of 33.43, a PEG ratio of 2.57 and a beta of 1.16. The company has a current ratio of 1.31, a quick ratio of 0.84 and a debt-to-equity ratio of 0.41.

Eaton (NYSE:ETN) last announced its 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. Eaton had a net margin of 15.55% and a return on equity of 23.41%. The firm had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.26 billion. During the same quarter in the previous year, the company posted $2.40 EPS. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. Research analysts forecast 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. Investors of record on Monday, May 5th were paid a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 1.26%. The ex-dividend date was Monday, May 5th. Eaton’s payout ratio is 41.98%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Royal Bank Of Canada raised their target price on Eaton from $336.00 to $356.00 and gave the company an “outperform” rating in a report on Monday, May 5th. Jefferies Financial Group reduced their target price on Eaton from $390.00 to $335.00 and set a “buy” rating for the company in a report on Wednesday, March 12th. Citigroup raised their target price on Eaton from $323.00 to $351.00 and gave the company a “buy” rating in a report on Monday, May 5th. Evercore ISI raised their target price on Eaton from $326.00 to $349.00 and gave the company an “in-line” rating in a report on Monday, May 19th. Finally, Morgan Stanley cut their price target on Eaton from $385.00 to $375.00 and set an “overweight” rating for the company in a research note on Tuesday, May 6th. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $368.78.

Insider Activity at Eaton

In other Eaton news, insider Craig Arnold sold 103,486 shares of Eaton stock in a transaction dated Monday, May 12th. The stock was 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Michael Yelton sold 2,120 shares of Eaton stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total value of $629,364.40. Following the completion of the sale, the insider now owns 3,382 shares of the company’s stock, valued at $1,004,014.34. This trade represents a 38.53% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 156,660 shares of company stock valued at $49,622,894. 0.30% of the stock is owned by insiders.

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.