Eaton Corporation, PLC (NYSE:ETN) Shares Purchased by AlphaCore Capital LLC

AlphaCore Capital LLC raised its holdings in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 27.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 5,606 shares of the industrial products company's stock after acquiring an additional 1,223 shares during the period. AlphaCore Capital LLC's holdings in Eaton were worth $1,524,000 at the end of the most recent reporting period.

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Several other hedge funds have also made changes to their positions in the business. Commonwealth Financial Services LLC boosted its stake in Eaton by 2.9% in the 1st quarter. Commonwealth Financial Services LLC now owns 1,175 shares of the industrial products company's stock worth $319,000 after buying an additional 33 shares during the last quarter. Checchi Capital Advisers LLC boosted its position in shares of Eaton by 0.7% in the first quarter. Checchi Capital Advisers LLC now owns 5,071 shares of the industrial products company's stock worth $1,378,000 after acquiring an additional 37 shares during the last quarter. Lantern Wealth Advisors LLC grew its holdings in Eaton by 1.0% in the fourth quarter. Lantern Wealth Advisors LLC now owns 4,038 shares of the industrial products company's stock valued at $1,340,000 after purchasing an additional 38 shares during the period. AGH Wealth Advisors LLC raised its stake in Eaton by 2.6% during the first quarter. AGH Wealth Advisors LLC now owns 1,517 shares of the industrial products company's stock worth $412,000 after purchasing an additional 38 shares during the period. Finally, Revolve Wealth Partners LLC boosted its holdings in shares of Eaton by 4.2% in the 1st quarter. Revolve Wealth Partners LLC now owns 951 shares of the industrial products company's stock valued at $259,000 after purchasing an additional 38 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Eaton Stock Performance

Shares of Eaton stock opened at $359.27 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.84 and a current ratio of 1.24. Eaton Corporation, PLC has a 1 year low of $231.85 and a 1 year high of $399.56. The firm's 50-day simple moving average is $354.13 and its 200-day simple moving average is $318.34. The firm has a market cap of $140.58 billion, a PE ratio of 36.14, a price-to-earnings-growth ratio of 2.70 and a beta of 1.18.

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Eaton (NYSE:ETN - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.92 by $0.03. The firm had revenue of $7.03 billion for the quarter, compared to analysts' expectations of $6.93 billion. Eaton had a return on equity of 23.91% and a net margin of 15.11%. Eaton's revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.73 earnings per share. Equities analysts forecast that Eaton Corporation, PLC will post 12.02 earnings per share for the current fiscal year.

Eaton Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Thursday, August 7th will be paid a dividend of $1.04 per share. The ex-dividend date is Thursday, August 7th. This represents a $4.16 annualized dividend and a yield of 1.2%. Eaton's payout ratio is presently 41.85%.

Insiders Place Their Bets

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In other news, insider Craig Arnold sold 103,486 shares of the firm's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $322.75, for a total value of $33,400,106.50. Following the transaction, the insider directly owned 490,208 shares in the company, valued at approximately $158,214,632. This trade represents a 17.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on ETN. Royal Bank Of Canada increased their target price on Eaton from $336.00 to $356.00 and gave the stock an "outperform" rating in a research report on Monday, May 5th. JPMorgan Chase & Co. boosted their target price on Eaton from $300.00 to $360.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Evercore ISI raised 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. Barclays raised their target price on shares of Eaton from $340.00 to $344.00 and gave the company an "equal weight" rating in a research note on Wednesday. Finally, BNP Paribas Exane assumed coverage on Eaton in a report on Thursday, May 15th. They issued an "outperform" rating and a $380.00 price target for the company. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, Eaton presently has an average rating of "Moderate Buy" and a consensus target price of $383.63.

View Our Latest Stock Report on ETN

Eaton 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.

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