Consolidated Portfolio Review Corp Buys 308 Shares of Eaton Corporation, PLC (NYSE:ETN)

Consolidated Portfolio Review Corp lifted its position in Eaton Corporation, PLC (NYSE:ETN) by 48.6% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 942 shares of the industrial products company’s stock after purchasing an additional 308 shares during the period. Consolidated Portfolio Review Corp’s holdings in Eaton were worth $256,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Eaton by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 37,217,906 shares of the industrial products company’s stock worth $12,351,506,000 after acquiring an additional 99,291 shares during the last quarter. FMR LLC boosted its holdings in shares of Eaton by 1.2% during the fourth quarter. FMR LLC now owns 15,222,248 shares of the industrial products company’s stock worth $5,051,807,000 after purchasing an additional 182,455 shares during the period. Geode Capital Management LLC grew its stake in shares of Eaton by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 8,198,412 shares of the industrial products company’s stock worth $2,714,677,000 after purchasing an additional 129,071 shares during the last quarter. Nuveen Asset Management LLC increased its holdings in Eaton by 4.3% during the 4th quarter. Nuveen Asset Management LLC now owns 4,671,185 shares of the industrial products company’s stock valued at $1,550,226,000 after purchasing an additional 192,482 shares during the period. Finally, Northern Trust Corp raised its position in Eaton by 8.8% during the 4th quarter. Northern Trust Corp now owns 4,574,704 shares of the industrial products company’s stock valued at $1,518,207,000 after purchasing an additional 368,241 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Eaton

In other Eaton news, insider Craig Arnold sold 51,054 shares of Eaton stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $305.43, for a total value of $15,593,423.22. Following the completion of the sale, the insider now owns 489,444 shares of the company’s stock, valued at approximately $149,490,880.92. This trade represents a 9.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael Yelton sold 2,120 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 3,382 shares in the company, valued at approximately $1,004,014.34. The trade was a 38.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 156,660 shares of company stock valued at $49,622,894 over the last 90 days. Corporate insiders own 0.30% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ETN shares. BNP Paribas Exane started coverage on Eaton in a research note on Thursday, May 15th. They set an “outperform” rating and a $380.00 target price on the stock. Royal Bank Of Canada boosted their price objective on shares of Eaton from $336.00 to $356.00 and gave the company an “outperform” rating in a research report on Monday, May 5th. KeyCorp raised their target price on shares of Eaton from $325.00 to $355.00 and gave the stock an “overweight” rating in a research report on Monday, May 5th. Jefferies Financial Group decreased their price target on shares of Eaton from $390.00 to $335.00 and set a “buy” rating for the company in a research note on Wednesday, March 12th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Eaton from $300.00 to $360.00 and gave the stock an “overweight” rating in a report on Friday, May 16th. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Eaton presently has an average rating of “Moderate Buy” and an average target price of $368.78.

Eaton Stock Down 0.2%

Shares of NYSE:ETN opened at $342.72 on Thursday. Eaton Corporation, PLC has a 12-month low of $231.85 and a 12-month high of $379.99. The stock has a market capitalization of $134.11 billion, a price-to-earnings ratio of 34.58, a PEG ratio of 2.66 and a beta of 1.16. The stock has a fifty day simple moving average of $314.71 and a two-hundred day simple moving average of $312.97. The company has a current ratio of 1.31, a quick ratio of 0.84 and a debt-to-equity ratio of 0.41.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.70 by $0.02. Eaton had a return on equity of 23.41% and a net margin of 15.55%. The firm had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.26 billion. During the same quarter in the previous year, the firm earned $2.40 EPS. Eaton’s quarterly revenue was up 7.3% compared to the same quarter last year. On average, research analysts anticipate that Eaton Corporation, PLC will post 12.02 earnings per share for the current fiscal year.

Eaton Announces Dividend

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. This represents a $4.16 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend was Monday, May 5th. Eaton’s dividend payout ratio (DPR) is currently 41.98%.

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.