Focus Financial Network Inc. Has $474,000 Stock Position in Eaton Co. plc (NYSE:ETN)

Focus Financial Network Inc. raised its position in shares of Eaton Co. plc (NYSE:ETN) by 6.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,744 shares of the industrial products company’s stock after purchasing an additional 106 shares during the period. Focus Financial Network Inc.’s holdings in Eaton were worth $474,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ETN. Bearing Point Capital LLC bought a new stake in shares of Eaton in the 4th quarter valued at about $2,713,000. Kennebec Savings Bank boosted its position in Eaton by 5.4% during the first quarter. Kennebec Savings Bank now owns 2,715 shares of the industrial products company’s stock valued at $738,000 after acquiring an additional 139 shares during the last quarter. American National Bank & Trust boosted its position in Eaton by 5.4% during the first quarter. American National Bank & Trust now owns 3,145 shares of the industrial products company’s stock valued at $855,000 after acquiring an additional 162 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors boosted its position in Eaton by 46.9% during the fourth quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 3,365 shares of the industrial products company’s stock valued at $1,117,000 after acquiring an additional 1,074 shares during the last quarter. Finally, Vivid Wealth Management LLC bought a new position in shares of Eaton during the 4th quarter worth about $2,133,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Eaton

In other Eaton news, insider Michael Yelton sold 2,120 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total value of $629,364.40. Following the completion of the sale, the insider now owns 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Craig Arnold sold 51,054 shares of the stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 489,444 shares of the company’s stock, valued at $149,490,880.92. This trade represents a 9.45% decrease in their position. 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 ninety days. Corporate insiders own 0.30% of the company’s stock.

Wall Street Analysts Forecast Growth

ETN has been the topic of a number of research analyst reports. Morgan Stanley cut their price objective 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. Citigroup upped their target price on shares of Eaton from $323.00 to $351.00 and gave the stock a “buy” rating in a report on Monday, May 5th. BNP Paribas started coverage on shares of Eaton in a report on Thursday, May 15th. They issued an “outperform” rating and a $380.00 target price on the stock. Barclays increased their price objective on shares of Eaton from $306.00 to $323.00 and gave the company an “equal weight” rating in a research note on Monday, June 9th. Finally, BNP Paribas Exane started coverage on shares of Eaton in a research note on Thursday, May 15th. They issued an “outperform” rating and a $380.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, Eaton currently has a consensus rating of “Moderate Buy” and a consensus target price of $368.78.

Eaton Price Performance

ETN stock opened at $323.26 on Friday. 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 company has a fifty day simple moving average of $304.79 and a two-hundred day simple moving average of $315.02. The firm has a market capitalization of $126.49 billion, a P/E ratio of 34.03, a price-to-earnings-growth ratio of 2.64 and a beta of 1.16.

Eaton (NYSE:ETN) last announced its quarterly earnings data 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 analyst estimates of $6.26 billion. During the same quarter last year, the business posted $2.40 EPS. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. Analysts anticipate that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were given a dividend of $1.04 per share. The ex-dividend date was Monday, May 5th. This represents a $4.16 annualized dividend and a yield of 1.29%. Eaton’s dividend payout ratio is presently 41.98%.

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.