Bogart Wealth LLC Buys 139 Shares of Eaton Corporation, PLC (NYSE:ETN)

by · The Cerbat Gem

Bogart Wealth LLC raised its stake in Eaton Corporation, PLC (NYSE:ETN – Free Report) by 5.1% during the 1st quarter, Holdings Channel reports. The fund owned 2,856 shares of the industrial products company’s stock after acquiring an additional 139 shares during the period. Bogart Wealth LLC’s holdings in Eaton were worth $776,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Eaton by 0.3% during the 4th 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 in the last quarter. FMR LLC grew its position in shares of Eaton by 1.2% during the 4th quarter. FMR LLC now owns 15,222,248 shares of the industrial products company’s stock worth $5,051,807,000 after purchasing an additional 182,455 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Eaton by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 8,198,412 shares of the industrial products company’s stock worth $2,714,677,000 after purchasing an additional 129,071 shares in the last quarter. Nuveen Asset Management LLC grew its position in shares of Eaton by 4.3% during the 4th quarter. Nuveen Asset Management LLC now owns 4,671,185 shares of the industrial products company’s stock worth $1,550,226,000 after purchasing an additional 192,482 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of Eaton by 8.8% during the 4th quarter. Northern Trust Corp now owns 4,574,704 shares of the industrial products company’s stock worth $1,518,207,000 after purchasing an additional 368,241 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider Michael Yelton sold 2,120 shares of Eaton stock in a transaction on 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 owned 3,382 shares of the company’s stock, valued at $1,004,014.34. This trade represents a 38.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction, the insider directly owned 490,208 shares of the company’s stock, valued at $158,214,632. This represents a 17.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 156,660 shares of company stock valued at $49,622,894 in the last three months. 0.30% of the stock is owned by insiders.

Analyst Ratings Changes

ETN has been the topic of a number of analyst reports. KeyCorp increased 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. Morgan Stanley reduced their price target on shares of Eaton from $385.00 to $375.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 6th. Royal Bank Of Canada increased their price target on shares of Eaton from $336.00 to $356.00 and gave the stock an “outperform” rating in a research report on Monday, May 5th. Wall Street Zen upgraded shares of Eaton from a “hold” rating to a “buy” rating in a research report on Saturday, July 5th. Finally, Sanford C. Bernstein reiterated an “outperform” rating and set a $396.00 price target on shares of Eaton in a research report on Monday. Six investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $375.00.

Check Out Our Latest Analysis on ETN

Eaton Price Performance

ETN stock opened at $360.32 on Tuesday. The company has a fifty day moving average price of $333.96 and a 200-day moving average price of $313.47. The company has a market capitalization of $140.99 billion, a P/E ratio of 36.36, a PEG ratio of 2.72 and a beta of 1.17. Eaton Corporation, PLC has a 52-week low of $231.85 and a 52-week high of $379.99. 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 (NYSE:ETN – Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.70 by $0.02. The firm had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.26 billion. Eaton had a net margin of 15.55% and a return on equity of 23.41%. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter last year, the firm earned $2.40 earnings per share. As a group, equities analysts expect that Eaton Corporation, PLC will post 12.02 EPS for the current year.

Eaton Announces Dividend

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 dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend was Monday, May 5th. Eaton’s dividend payout ratio is presently 41.98%.

About Eaton

(Free Report)

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.

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