AAFMAA Wealth Management & Trust LLC Invests $1.35 Million in Eaton Co. plc (NYSE:ETN)

AAFMAA Wealth Management & Trust LLC acquired a new stake in shares of Eaton Co. plc (NYSE:ETN) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 4,979 shares of the industrial products company’s stock, valued at approximately $1,353,000.

A number of other hedge funds also recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Eaton in the fourth quarter valued at approximately $1,495,582,000. GAMMA Investing LLC grew its holdings in Eaton by 27,281.9% in the 1st quarter. GAMMA Investing LLC now owns 3,593,321 shares of the industrial products company’s stock valued at $976,772,000 after buying an additional 3,580,198 shares in the last quarter. Capital International Investors acquired a new stake in shares of Eaton in the 4th quarter worth $523,541,000. Proficio Capital Partners LLC raised its holdings in shares of Eaton by 42,255.3% during the 4th quarter. Proficio Capital Partners LLC now owns 732,323 shares of the industrial products company’s stock worth $243,036,000 after acquiring an additional 730,594 shares during the period. Finally, Leigh Baldwin & CO. LLC acquired a new position in shares of Eaton during the 4th quarter valued at about $231,552,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Transactions at Eaton

In other Eaton 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 transaction of $629,364.40. Following the sale, the insider now owns 3,382 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Craig Arnold sold 103,486 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $322.75, for a total transaction of $33,400,106.50. Following the sale, the insider now owns 490,208 shares of the company’s stock, valued at $158,214,632. This represents a 17.43% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 156,660 shares of company stock valued at $49,622,894. Insiders own 0.30% of the company’s stock.

Eaton Trading Up 1.6%

Shares of NYSE ETN opened at $331.71 on Friday. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $129.80 billion, a PE ratio of 34.92, a PEG ratio of 2.64 and a beta of 1.16. Eaton Co. plc has a twelve month low of $231.85 and a twelve month high of $379.99. The stock has a fifty day simple moving average of $298.11 and a 200-day simple moving average of $316.64.

Eaton (NYSE:ETN) last announced its earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share for the quarter, topping 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 firm had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.26 billion. During the same period in the prior year, the firm earned $2.40 EPS. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, equities analysts forecast that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 5th were issued a $1.04 dividend. The ex-dividend date of this dividend was Monday, May 5th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.25%. Eaton’s payout ratio is 41.98%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. 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 research report on Friday, May 16th. Evercore ISI raised their price target on shares of Eaton from $326.00 to $349.00 and gave the stock an “in-line” rating in a report on Monday, May 19th. BNP Paribas Exane initiated coverage on Eaton in a report on Thursday, May 15th. They issued an “outperform” rating and a $380.00 price objective on the stock. Morgan Stanley lowered their price objective on Eaton from $385.00 to $375.00 and set an “overweight” rating for the company in a research report on Tuesday, May 6th. Finally, Royal Bank of Canada lifted their target price on Eaton from $336.00 to $356.00 and gave the company an “outperform” rating in a research report on Monday, May 5th. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $367.83.

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.