By otakuyassine3@gmail.com 
Thomasville National Bank raised its stake in shares of Eaton Co. plc (NYSE:ETN – Free Report) by 1.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,788 shares of the industrial products company’s stock after buying an additional 59 shares during the period. Thomasville National Bank’s holdings in Eaton were worth $1,589,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of ETN. Strategic Wealth Partners Ltd. raised its stake in Eaton by 3.0% during the 3rd quarter. Strategic Wealth Partners Ltd. now owns 1,027 shares of the industrial products company’s stock valued at $340,000 after purchasing an additional 30 shares during the last quarter. Fairfield Financial Advisors LTD raised its stake in shares of Eaton by 16.2% in the 3rd quarter. Fairfield Financial Advisors LTD now owns 215 shares of the industrial products company’s stock valued at $71,000 after buying an additional 30 shares in the last quarter. Venturi Wealth Management LLC raised its stake in shares of Eaton by 2.1% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,549 shares of the industrial products company’s stock valued at $513,000 after buying an additional 32 shares in the last quarter. Austin Private Wealth LLC raised its stake in shares of Eaton by 3.7% in the 3rd quarter. Austin Private Wealth LLC now owns 929 shares of the industrial products company’s stock valued at $308,000 after buying an additional 33 shares in the last quarter. Finally, Smithfield Trust Co grew its holdings in shares of Eaton by 0.6% in the 3rd quarter. Smithfield Trust Co now owns 5,390 shares of the industrial products company’s stock worth $1,789,000 after purchasing an additional 33 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.
Eaton Stock Down 0.1 %
Shares of NYSE:ETN traded down $0.35 during midday trading on Monday, hitting $341.10. The stock had a trading volume of 991,718 shares, compared to its average volume of 2,057,271. Eaton Co. plc has a 12 month low of $236.04 and a 12 month high of $379.99. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. The business’s 50-day simple moving average is $355.14 and its 200-day simple moving average is $328.96. The company has a market cap of $134.80 billion, a P/E ratio of 36.29, a PEG ratio of 2.70 and a beta of 1.06.
Eaton (NYSE:ETN – Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The firm had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.37 billion. During the same period in the previous year, the business posted $2.47 earnings per share. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. On average, sell-side analysts forecast that Eaton Co. plc will post 10.8 earnings per share for the current fiscal year.
Eaton Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 4th were issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date was Monday, November 4th. Eaton’s dividend payout ratio is currently 40.00%.
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on ETN. Barclays upped their target price on shares of Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. UBS Group began coverage on shares of Eaton in a report on Wednesday, November 13th. They set a “buy” rating and a $431.00 price objective on the stock. Mizuho increased their price objective on shares of Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Bank of America increased their price objective on shares of Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, Citigroup raised their target price on shares of Eaton from $394.00 to $440.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Eaton has a consensus rating of “Moderate Buy” and a consensus price target of $369.28.
Check Out Our Latest Research Report on ETN
Insider Transactions at Eaton
In related news, Director Gregory R. Page sold 10,000 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $355.98, for a total value of $3,559,800.00. Following the completion of the transaction, the director now owns 43,203 shares of the company’s stock, valued at $15,379,403.94. The trade was a 18.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Craig Arnold sold 61,569 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total value of $22,224,561.93. Following the completion of the transaction, the insider now directly owns 506,360 shares of the company’s stock, valued at approximately $182,780,769.20. This trade represents a 10.84 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 76,981 shares of company stock valued at $27,660,117. 0.53% of the stock is currently owned by corporate insiders.
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.
Further Reading
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