Capital Advisors Ltd. LLC Boosts Position in Eaton Co. plc (NYSE:ETN)

Capital Advisors Ltd. LLC increased its holdings in shares of Eaton Co. plc (NYSE:ETN) by 31.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,091 shares of the industrial products company’s stock after purchasing an additional 502 shares during the quarter. Capital Advisors Ltd. LLC’s holdings in Eaton were worth $568,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital A Wealth Management LLC purchased a new position in Eaton in the 4th quarter valued at $26,000. Flagship Wealth Advisors LLC acquired a new position in Eaton in the 4th quarter valued at $27,000. Noble Wealth Management PBC acquired a new position in Eaton in the 4th quarter valued at $30,000. Murphy & Mullick Capital Management Corp acquired a new position in Eaton in the 4th quarter valued at $33,000. Finally, Vermillion Wealth Management Inc. acquired a new position in Eaton in the 4th quarter valued at $33,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling at Eaton

In other 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 transaction, the insider now owns 3,382 shares of the company’s stock, valued at $1,004,014.34. This represents a 38.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Craig Arnold sold 103,486 shares of the company’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $322.75, for a total transaction of $33,400,106.50. Following the transaction, the insider now directly owns 490,208 shares of the company’s stock, valued at approximately $158,214,632. This represents a 17.43% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 156,660 shares of company stock worth $49,622,894. Corporate insiders own 0.30% of the company’s stock.

Eaton Price Performance

Eaton stock opened at $325.56 on Thursday. Eaton Co. plc has a 52 week low of $231.85 and a 52 week high of $379.99. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. The firm’s 50-day simple moving average is $301.79 and its 200 day simple moving average is $315.72. The firm has a market capitalization of $127.39 billion, a PE ratio of 34.27, a P/E/G ratio of 2.64 and a beta of 1.16.

Eaton (NYSE:ETN) last released its quarterly earnings data on Friday, May 2nd. The industrial products company reported $2.72 EPS for the quarter, topping the consensus estimate of $2.70 by $0.02. The business had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.26 billion. Eaton had a net margin of 15.25% and a return on equity of 22.62%. 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 firm earned $2.40 EPS. On average, equities research analysts predict that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were issued a $1.04 dividend. 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 1.28%. Eaton’s dividend payout ratio (DPR) is 41.98%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Eaton from $300.00 to $360.00 and gave the company an “overweight” rating in a research note on Friday, May 16th. Evercore ISI boosted their target price 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. Wall Street Zen upgraded shares of Eaton from a “hold” rating to a “buy” rating in a research report on Sunday, May 18th. KeyCorp boosted their target price 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. Finally, Wells Fargo & Company restated an “overweight” rating and set a $355.00 target price on shares of Eaton in a research report on Monday, May 5th. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, Eaton presently has a consensus rating of “Moderate Buy” and an average price target of $368.78.

Eaton Company 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.