XML Financial LLC Has $227,000 Holdings in Eaton Corporation, PLC (NYSE:ETN)

XML Financial LLC decreased its position in Eaton Corporation, PLC (NYSE:ETN) by 21.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 836 shares of the industrial products company’s stock after selling 226 shares during the period. XML Financial LLC’s holdings in Eaton were worth $227,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norden Group LLC raised its position in Eaton by 3.4% in the 4th quarter. Norden Group LLC now owns 978 shares of the industrial products company’s stock worth $325,000 after purchasing an additional 32 shares during the period. Nwam LLC increased its position in shares of Eaton by 0.6% during the fourth quarter. Nwam LLC now owns 5,314 shares of the industrial products company’s stock valued at $1,764,000 after buying an additional 34 shares during the period. Founders Financial Alliance LLC increased its position in shares of Eaton by 0.7% during the fourth quarter. Founders Financial Alliance LLC now owns 5,415 shares of the industrial products company’s stock valued at $1,797,000 after buying an additional 35 shares during the period. Sound View Wealth Advisors Group LLC increased its position in shares of Eaton by 1.1% during the fourth quarter. Sound View Wealth Advisors Group LLC now owns 3,587 shares of the industrial products company’s stock valued at $1,190,000 after buying an additional 38 shares during the period. Finally, 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 worth $1,340,000 after purchasing an additional 38 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on ETN shares. BNP Paribas Exane started coverage on shares of Eaton in a report on Thursday, May 15th. They issued an “outperform” rating and a $380.00 price objective on the stock. KeyCorp increased their price objective on shares of Eaton from $325.00 to $355.00 and gave the company an “overweight” rating in a research report on Monday, May 5th. Barclays increased their price target on shares of Eaton from $306.00 to $323.00 and gave the stock an “equal weight” rating in a research report on Monday, June 9th. Morgan Stanley decreased their price target on shares of Eaton from $385.00 to $375.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 6th. Finally, Jefferies Financial Group reduced their price objective 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. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Eaton has an average rating of “Moderate Buy” and a consensus price target of $368.78.

Insiders Place Their Bets

In related news, insider Michael Yelton sold 2,120 shares of the 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 completion of the sale, the insider now owns 3,382 shares of the company’s stock, valued at $1,004,014.34. This represents a 38.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Craig Arnold sold 103,486 shares of the stock in a transaction 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 completion of the sale, the insider now owns 490,208 shares in the company, valued at $158,214,632. The trade was a 17.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 156,660 shares of company stock worth $49,622,894 in the last three months. Corporate insiders own 0.30% of the company’s stock.

Eaton Stock Performance

Eaton stock opened at $343.55 on Wednesday. The company’s 50-day moving average price is $313.24 and its 200-day moving average price is $312.76. Eaton Corporation, PLC has a twelve month low of $231.85 and a twelve month high of $379.99. The company has a quick ratio of 0.84, a current ratio of 1.31 and a debt-to-equity ratio of 0.41. The company has a market cap of $134.43 billion, a PE ratio of 34.67, a price-to-earnings-growth ratio of 2.58 and a beta of 1.16.

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

Eaton Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were paid 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 yield of 1.21%. Eaton’s dividend 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.