Eaton Corporation, PLC (NYSE:ETN) Shares Bought by Headland Capital LLC

by · The Markets Daily

Headland Capital LLC raised its holdings in Eaton Corporation, PLC (NYSE:ETN – Free Report) by 6.4% during the 1st quarter, Holdings Channel.com reports. The firm owned 751 shares of the industrial products company’s stock after acquiring an additional 45 shares during the period. Headland Capital LLC’s holdings in Eaton were worth $204,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of ETN. IMA Advisory Services Inc. purchased a new stake in shares of Eaton during the 1st quarter worth about $25,000. Capital A Wealth Management LLC purchased a new position in shares of Eaton in the 4th quarter valued at about $26,000. Creative Financial Designs Inc. ADV boosted 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 in the last quarter. Vermillion Wealth Management Inc. purchased a new position in Eaton during the fourth quarter worth approximately $33,000. Finally, Abound Wealth Management grew its holdings in Eaton by 73.8% in the first quarter. Abound Wealth Management now owns 146 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 62 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Buying and Selling

In other news, insider Craig Arnold sold 103,486 shares of the company’s stock in a transaction on 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 transaction, the insider owned 490,208 shares of the company’s stock, valued at $158,214,632. This represents a 17.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Michael Yelton sold 2,120 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total value of $629,364.40. Following the transaction, the insider owned 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 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 in the last 90 days. Insiders own 0.30% of the company’s stock.

Eaton Stock Down 1.4%

Shares of NYSE:ETN opened at $384.46 on Friday. Eaton Corporation, PLC has a 52-week low of $231.85 and a 52-week high of $399.56. The stock has a market cap of $150.44 billion, a P/E ratio of 38.80, a PEG ratio of 2.94 and a beta of 1.17. The business has a fifty day moving average of $349.71 and a two-hundred day moving average of $317.50. The company has a quick ratio of 0.84, a current ratio of 1.31 and a debt-to-equity ratio of 0.41.

Eaton (NYSE:ETN – Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The industrial products company reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $6.26 billion. During the same quarter in the prior year, the firm posted $2.40 earnings per share. Eaton’s quarterly revenue was up 7.3% on a year-over-year basis. On average, research analysts expect that Eaton Corporation, PLC will post 12.02 earnings per share for the current year.

Eaton Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Thursday, August 7th will be issued a dividend of $1.04 per share. The ex-dividend date is Thursday, August 7th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.1%. Eaton’s dividend payout ratio (DPR) is currently 41.98%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ETN. Wells Fargo & Company increased their target price on Eaton from $310.00 to $360.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 1st. KeyCorp upped their price objective on shares of Eaton from $355.00 to $410.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 15th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $396.00 target price on shares of Eaton in a research report on Monday, July 14th. BNP Paribas assumed coverage on shares of Eaton in a research note on Thursday, May 15th. They set an “outperform” rating and a $380.00 target price for the company. Finally, Royal Bank Of Canada raised their price target 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. Six analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $377.89.

Read Our Latest Analysis on Eaton

Eaton Profile

(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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