Eaton Co. plc (NYSE:ETN) Shares Purchased by Goldstone Financial Group LLC

Goldstone Financial Group LLC boosted its stake in Eaton Co. plc (NYSE:ETN) by 24.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,756 shares of the industrial products company’s stock after acquiring an additional 350 shares during the period. Goldstone Financial Group LLC’s holdings in Eaton were worth $477,000 at the end of the most recent reporting period.

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

Eaton Price Performance

Shares of NYSE ETN opened at $323.26 on Friday. Eaton Co. plc has a twelve month low of $231.85 and a twelve month high of $379.99. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $126.49 billion, a price-to-earnings ratio of 34.03, a PEG ratio of 2.64 and a beta of 1.16. The firm has a 50-day moving average of $304.79 and a two-hundred day moving average of $314.63.

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, beating analysts’ consensus estimates of $2.70 by $0.02. Eaton had a net margin of 15.25% and a return on equity of 22.62%. The company had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.26 billion. During the same period in the prior year, the company earned $2.40 EPS. Eaton’s revenue was up 7.3% on a year-over-year basis. As a group, analysts expect that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend was Monday, May 5th. Eaton’s payout ratio is 41.98%.

Insider Buying and Selling at Eaton

In other Eaton news, insider Michael Yelton sold 2,120 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 3,382 shares of the company’s stock, valued at approximately $1,004,014.34. This represents a 38.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Craig Arnold sold 51,054 shares of the company’s stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $305.43, for a total transaction of $15,593,423.22. Following the sale, the insider now directly owns 489,444 shares of the company’s stock, valued at $149,490,880.92. This represents a 9.45% 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 valued at $49,622,894. 0.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ETN. Wall Street Zen upgraded shares of Eaton from a “hold” rating to a “buy” rating in a research report on Sunday, May 18th. Jefferies Financial Group lowered their price target on shares of Eaton from $390.00 to $335.00 and set a “buy” rating for the company in a research report on Wednesday, March 12th. KeyCorp upped their price target on shares of Eaton from $325.00 to $355.00 and gave the stock an “overweight” rating in a research report on Monday, May 5th. Evercore ISI upped their price target on shares of Eaton from $326.00 to $349.00 and gave the stock an “in-line” rating in a research report on Monday, May 19th. Finally, BNP Paribas began coverage on shares of Eaton in a research report on Thursday, May 15th. They set an “outperform” rating and a $380.00 price target for the company. Five 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, the stock currently has an average rating of “Moderate Buy” and an average target price of $368.78.

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.