Trifecta Capital Advisors LLC Purchases 1,470 Shares of Eaton Corporation, PLC (NYSE:ETN)

Trifecta Capital Advisors LLC boosted its holdings in Eaton Corporation, PLC (NYSE:ETN) by 9.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,789 shares of the industrial products company’s stock after purchasing an additional 1,470 shares during the period. Trifecta Capital Advisors LLC’s holdings in Eaton were worth $4,836,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Blue Trust Inc. increased its stake in shares of Eaton by 3.8% during the 1st quarter. Blue Trust Inc. now owns 10,415 shares of the industrial products company’s stock worth $2,831,000 after purchasing an additional 383 shares during the last quarter. Advisory Resource Group boosted its stake in Eaton by 9.4% in the 1st quarter. Advisory Resource Group now owns 4,458 shares of the industrial products company’s stock valued at $1,212,000 after purchasing an additional 383 shares during the period. Plimoth Trust Co. LLC grew its stake in shares of Eaton by 0.7% in the first quarter. Plimoth Trust Co. LLC now owns 11,583 shares of the industrial products company’s stock valued at $3,149,000 after acquiring an additional 75 shares in the last quarter. Trivant Custom Portfolio Group LLC acquired a new position in shares of Eaton during the 1st quarter worth approximately $771,000. Finally, HCR Wealth Advisors increased its stake in Eaton by 117.5% during the 1st quarter. HCR Wealth Advisors now owns 3,748 shares of the industrial products company’s stock worth $1,019,000 after acquiring an additional 2,025 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Transactions at Eaton

In other news, insider Michael Yelton sold 2,120 shares of the firm’s 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 transaction, the insider now directly owns 3,382 shares in the company, valued at approximately $1,004,014.34. This trade represents a 38.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Craig Arnold sold 51,054 shares of the business’s stock in a transaction 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 transaction, the insider now owns 489,444 shares of the company’s stock, valued at $149,490,880.92. This trade represents a 9.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 156,660 shares of company stock worth $49,622,894 in the last quarter. Insiders own 0.30% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Barclays raised their target price on shares of Eaton from $306.00 to $323.00 and gave the company an “equal weight” rating in a report on Monday, June 9th. Royal Bank Of Canada upped their target price on Eaton from $336.00 to $356.00 and gave the stock an “outperform” rating in a report on Monday, May 5th. BNP Paribas assumed coverage on shares of Eaton in a report on Thursday, May 15th. They set an “outperform” rating and a $380.00 price target on the stock. Jefferies Financial Group reduced their target price on Eaton from $390.00 to $335.00 and set a “buy” rating on the stock in a report on Wednesday, March 12th. Finally, Wall Street Zen raised shares of Eaton from a “hold” rating to a “buy” rating in a research report on Sunday, May 18th. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $368.78.

Eaton Price Performance

Shares of NYSE ETN opened at $333.92 on Thursday. Eaton Corporation, PLC has a fifty-two week low of $231.85 and a fifty-two week high of $379.99. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.84 and a current ratio of 1.31. The firm’s 50-day simple moving average is $308.45 and its 200 day simple moving average is $314.22. The stock has a market cap of $130.66 billion, a price-to-earnings ratio of 33.70, a PEG ratio of 2.56 and a beta of 1.16.

Eaton (NYSE:ETN) last released its quarterly earnings results 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. The company had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.26 billion. Eaton had a net margin of 15.55% and a return on equity of 23.41%. The firm’s revenue was up 7.3% on a year-over-year basis. During the same period last year, the firm earned $2.40 earnings per share. As a group, research analysts anticipate that Eaton Corporation, PLC will post 12.02 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The business 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 1.25%. Eaton’s payout ratio is currently 41.98%.

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.