Eaton Co. plc (NYSE:ETN) Shares Acquired by RDA Financial Network

RDA Financial Network increased its stake in shares of Eaton Co. plc (NYSE:ETN) by 4.4% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 1,269 shares of the industrial products company’s stock after acquiring an additional 53 shares during the period. RDA Financial Network’s holdings in Eaton were worth $345,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Brighton Jones LLC increased its holdings in Eaton by 1.4% during the 4th quarter. Brighton Jones LLC now owns 3,341 shares of the industrial products company’s stock worth $1,109,000 after purchasing an additional 45 shares during the last quarter. Revolve Wealth Partners LLC raised its holdings in Eaton by 17.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 913 shares of the industrial products company’s stock valued at $303,000 after acquiring an additional 136 shares in the last quarter. Consolidated Portfolio Review Corp bought a new stake in shares of Eaton in the 4th quarter worth about $210,000. Strategic Financial Concepts LLC bought a new position in shares of Eaton during the fourth quarter worth about $38,000. Finally, Lecap Asset Management Ltd. acquired a new position in Eaton in the fourth quarter worth about $317,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Craig Arnold sold 103,486 shares of the firm’s 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 completion of the sale, the insider now directly owns 490,208 shares of the company’s stock, valued at $158,214,632. This trade represents a 17.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Michael Yelton sold 2,120 shares of the business’s 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 sale, the insider now directly owns 3,382 shares in the company, valued at $1,004,014.34. This trade 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 over the last three months. Company insiders own 0.30% of the company’s stock.

Eaton Price Performance

Shares of ETN opened at $331.71 on Monday. Eaton Co. plc has a one year low of $231.85 and a one year high of $379.99. The stock’s fifty day moving average is $298.11 and its 200-day moving average is $315.95. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. The firm has a market capitalization of $129.80 billion, a price-to-earnings ratio of 34.92, a price-to-earnings-growth ratio of 2.64 and a beta of 1.16.

Eaton (NYSE:ETN) last released its earnings results on Friday, May 2nd. The industrial products company reported $2.72 EPS for the quarter, beating the consensus estimate of $2.70 by $0.02. The firm had revenue of $6.38 billion for the quarter, compared to analysts’ expectations of $6.26 billion. Eaton had a net margin of 15.25% and a return on equity of 22.62%. Eaton’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the company earned $2.40 EPS. Equities analysts anticipate that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders 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 annualized dividend and a dividend yield of 1.25%. Eaton’s dividend payout ratio (DPR) is 41.98%.

Analyst Ratings Changes

ETN has been the topic of a number of research analyst reports. BNP Paribas initiated coverage on Eaton in a report on Thursday, May 15th. They set an “outperform” rating and a $380.00 target price on the stock. Wells Fargo & Company restated an “overweight” rating and set a $355.00 price objective on shares of Eaton in a research note on Monday, May 5th. KeyCorp boosted their target price on shares of Eaton from $325.00 to $355.00 and gave the company an “overweight” rating in a research note on Monday, May 5th. Wall Street Zen upgraded shares of Eaton from a “hold” rating to a “buy” rating in a research report on Sunday, May 18th. Finally, Evercore ISI lifted their price target on shares of Eaton from $326.00 to $349.00 and gave the company an “in-line” rating in a report on Monday, May 19th. Five 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, the stock presently has an average rating of “Moderate Buy” and an average price target of $367.83.

About Eaton

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.