Godsey & Gibb Inc. Has $25.41 Million Holdings in Eaton Co. plc (NYSE:ETN)

Godsey & Gibb Inc. trimmed its holdings in Eaton Co. plc (NYSE:ETN - Free Report) by 3.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 76,556 shares of the industrial products company's stock after selling 2,510 shares during the period. Eaton comprises approximately 2.5% of Godsey & Gibb Inc.'s holdings, making the stock its 9th largest holding. Godsey & Gibb Inc.'s holdings in Eaton were worth $25,407,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Groupama Asset Managment lifted its holdings in Eaton by 83.2% during the 3rd quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company's stock worth $31,000 after buying an additional 4,298 shares during the last quarter. Horizon Bancorp Inc. IN lifted its stake in Eaton by 321.7% during the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company's stock worth $32,000 after purchasing an additional 74 shares during the last quarter. Morse Asset Management Inc acquired a new position in Eaton in the third quarter worth $33,000. West Financial Advisors LLC bought a new stake in Eaton during the third quarter valued at $35,000. Finally, DT Investment Partners LLC bought a new position in shares of Eaton in the 3rd quarter worth about $37,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the business's stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $378.58, for a total transaction of $534,554.96. Following the transaction, the insider now directly owns 31,200 shares of the company's stock, valued at approximately $11,811,696. The trade was a 4.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Craig Arnold sold 61,569 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the completion of the sale, the insider now owns 506,360 shares of the company's stock, valued at approximately $182,780,769.20. The trade was a 10.84 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 76,981 shares of company stock valued at $27,660,117. Company insiders own 0.33% of the company's stock.

Eaton Price Performance

Shares of NYSE ETN traded up $4.04 during trading on Thursday, hitting $346.62. The company had a trading volume of 1,057,018 shares, compared to its average volume of 2,347,122. The company has a market cap of $136.98 billion, a P/E ratio of 36.87, a PEG ratio of 2.27 and a beta of 1.06. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53. The business's 50-day moving average is $355.38 and its 200 day moving average is $329.33. Eaton Co. plc has a 52 week low of $236.04 and a 52 week high of $379.99.

Eaton (NYSE:ETN - Get Free Report) last announced its earnings results on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, beating the consensus estimate of $2.80 by $0.04. The business had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. Eaton's revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the business posted $2.47 earnings per share. Equities research analysts predict that Eaton Co. plc will post 10.8 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 4th were given a $0.94 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $3.76 annualized dividend and a dividend yield of 1.08%. Eaton's dividend payout ratio (DPR) is presently 40.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on ETN shares. Citigroup lowered their price objective on shares of Eaton from $440.00 to $410.00 and set a "buy" rating for the company in a research report on Monday. Royal Bank of Canada increased their price target on Eaton from $374.00 to $392.00 and gave the stock an "outperform" rating in a research report on Friday, January 3rd. Sanford C. Bernstein initiated coverage on Eaton in a research note on Tuesday, November 5th. They set an "outperform" rating and a $382.00 price objective for the company. JPMorgan Chase & Co. dropped their target price on Eaton from $350.00 to $348.00 and set an "overweight" rating on the stock in a research report on Wednesday. Finally, Bank of America upped their price target on shares of Eaton from $350.00 to $410.00 and gave the stock a "buy" rating in a research report on Wednesday, November 13th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $368.89.

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.