Greystone Financial Group LLC Has $815,000 Position in Eaton Co. plc (NYSE:ETN)

Greystone Financial Group LLC boosted its holdings in Eaton Co. plc (NYSE:ETN) by 41.5% during the first quarter, HoldingsChannel.com reports. The fund owned 2,999 shares of the industrial products company’s stock after purchasing an additional 880 shares during the period. Greystone Financial Group LLC’s holdings in Eaton were worth $815,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in ETN. Capital A Wealth Management LLC bought a new stake in shares of Eaton in the 4th quarter valued at approximately $26,000. Flagship Wealth Advisors LLC acquired a new stake in Eaton in the 4th quarter valued at $27,000. Noble Wealth Management PBC bought a new stake in Eaton in the fourth quarter valued at $30,000. Murphy & Mullick Capital Management Corp acquired a new position in Eaton during the fourth quarter worth $33,000. Finally, Vermillion Wealth Management Inc. acquired a new stake in shares of Eaton in the 4th quarter valued at $33,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Stock Performance

Eaton stock opened at $331.71 on Monday. The company has a market cap of $129.80 billion, a PE ratio of 34.92, a PEG ratio of 2.64 and a beta of 1.16. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. Eaton Co. plc has a 1 year low of $231.85 and a 1 year high of $379.99. The company’s 50-day moving average is $298.11 and its two-hundred day moving average is $315.95.

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 the consensus estimate of $2.70 by $0.02. Eaton had a net margin of 15.25% and a return on equity of 22.62%. The business had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.26 billion. During the same period in the prior year, the business posted $2.40 earnings per share. Eaton’s revenue was up 7.3% compared to the same quarter last year. Equities analysts anticipate that Eaton Co. plc will post 12.02 earnings per share for the current 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 $1.04 dividend. The ex-dividend date was Monday, May 5th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.25%. Eaton’s dividend payout ratio is 41.98%.

Analysts Set New Price Targets

A number of equities analysts have commented on ETN shares. Wall Street Zen upgraded shares of Eaton from a “hold” rating to a “buy” rating in a research report on Sunday, May 18th. BNP Paribas began coverage on shares of Eaton in a research note on Thursday, May 15th. They issued an “outperform” rating and a $380.00 target price for the company. Jefferies Financial Group decreased their price target on Eaton from $390.00 to $335.00 and set a “buy” rating on the stock in a research report on Wednesday, March 12th. BNP Paribas Exane began coverage on Eaton in a research report on Thursday, May 15th. They issued an “outperform” rating and a $380.00 price objective for the company. Finally, Evercore ISI boosted their price objective on Eaton from $326.00 to $349.00 and gave the stock an “in-line” rating in a research note on Monday, May 19th. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $367.83.

Insider Activity at Eaton

In other Eaton news, insider Michael Yelton sold 2,120 shares of the stock in a transaction dated Tuesday, May 6th. The stock was 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 directly owns 3,382 shares in the company, valued at $1,004,014.34. This 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 Eaton stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $305.43, for a total value of $15,593,423.22. Following the transaction, the insider now owns 489,444 shares in the company, 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. Over the last 90 days, insiders sold 156,660 shares of company stock worth $49,622,894. 0.30% of the stock is currently owned by company insiders.

Eaton Company 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.