Stock Yards Bank & Trust Co. Sells 2,136 Shares of Eaton Co. plc (NYSE:ETN)

Stock Yards Bank & Trust Co. trimmed its holdings in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 7.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,398 shares of the industrial products company's stock after selling 2,136 shares during the period. Stock Yards Bank & Trust Co.'s holdings in Eaton were worth $8,418,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of ETN. Interval Partners LP boosted its holdings in shares of Eaton by 82.7% in the 2nd quarter. Interval Partners LP now owns 151,716 shares of the industrial products company's stock valued at $47,571,000 after buying an additional 68,693 shares during the last quarter. Scientech Research LLC grew its position in shares of Eaton by 285.5% in the 2nd quarter. Scientech Research LLC now owns 5,744 shares of the industrial products company's stock valued at $1,801,000 after acquiring an additional 4,254 shares during the period. B. Riley Wealth Advisors Inc. increased its stake in shares of Eaton by 25.9% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 27,609 shares of the industrial products company's stock worth $8,657,000 after purchasing an additional 5,676 shares during the last quarter. SteelPeak Wealth LLC bought a new stake in shares of Eaton in the 2nd quarter valued at about $526,000. Finally, Nisa Investment Advisors LLC lifted its stake in Eaton by 2.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 136,773 shares of the industrial products company's stock valued at $42,885,000 after purchasing an additional 3,076 shares during the last quarter. Institutional investors own 82.97% of the company's stock.

Eaton Price Performance

Shares of ETN stock traded down $3.27 on Thursday, hitting $358.64. 1,222,577 shares of the company's stock were exchanged, compared to its average volume of 2,086,222. Eaton Co. plc has a 12 month low of $231.84 and a 12 month high of $379.99. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00. The company has a 50 day moving average of $354.70 and a 200 day moving average of $326.37. The stock has a market cap of $141.73 billion, a P/E ratio of 38.16, a price-to-earnings-growth ratio of 2.81 and a beta of 1.03.

Eaton (NYSE:ETN - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (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 business had revenue of $6.35 billion during the quarter, compared to analysts' expectations of $6.37 billion. During the same period in the prior year, the company earned $2.47 EPS. The firm's quarterly revenue was up 7.9% compared to the same quarter last year. On average, equities research analysts predict that Eaton Co. plc will post 10.8 EPS for the current year.

Eaton Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 4th were issued a $0.94 dividend. The ex-dividend date was Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a yield of 1.05%. Eaton's payout ratio is presently 40.00%.

Insider Buying and Selling at Eaton

In other Eaton news, Director Gregory R. Page sold 4,000 shares of the company's stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $335.30, for a total value of $1,341,200.00. Following the sale, the director now owns 51,422 shares in the company, valued at approximately $17,241,796.60. The trade was a 7.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the firm's stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $378.58, for a total value of $534,554.96. Following the transaction, the insider now owns 31,200 shares of the company's stock, valued at $11,811,696. This trade represents a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 66,981 shares of company stock worth $24,100,317. 0.53% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on ETN shares. Citigroup lifted their target price on Eaton from $394.00 to $440.00 and gave the stock a "buy" rating in a research note on Monday. Jefferies Financial Group upped their price objective on shares of Eaton from $400.00 to $440.00 and gave the company a "buy" rating in a report on Friday, December 6th. Raymond James dropped their price objective on shares of Eaton from $375.00 to $365.00 and set an "outperform" rating on the stock in a research report on Monday, September 9th. Mizuho upped their price target on shares of Eaton from $365.00 to $385.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. Finally, Bank of America raised their price objective 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 given a buy rating to the company. According to MarketBeat.com, the company 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.