MassMutual Private Wealth & Trust FSB Acquires 7,057 Shares of Eaton Co. plc (NYSE:ETN)

MassMutual Private Wealth & Trust FSB increased its stake in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 31.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 29,744 shares of the industrial products company's stock after acquiring an additional 7,057 shares during the period. MassMutual Private Wealth & Trust FSB's holdings in Eaton were worth $9,871,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in ETN. BigSur Wealth Management LLC raised its holdings in Eaton by 4.4% in the 4th quarter. BigSur Wealth Management LLC now owns 956 shares of the industrial products company's stock worth $317,000 after acquiring an additional 40 shares during the period. UMB Bank n.a. grew its position in shares of Eaton by 13.4% in the fourth quarter. UMB Bank n.a. now owns 145,009 shares of the industrial products company's stock valued at $48,124,000 after purchasing an additional 17,133 shares during the last quarter. Strong Tower Advisory Services increased its stake in shares of Eaton by 3.2% in the fourth quarter. Strong Tower Advisory Services now owns 7,596 shares of the industrial products company's stock worth $2,521,000 after purchasing an additional 233 shares during the period. Trueblood Wealth Management LLC lifted its position in shares of Eaton by 10.2% during the 4th quarter. Trueblood Wealth Management LLC now owns 1,680 shares of the industrial products company's stock worth $558,000 after purchasing an additional 156 shares during the last quarter. Finally, Mechanics Bank Trust Department boosted its stake in Eaton by 16.5% during the 4th quarter. Mechanics Bank Trust Department now owns 812 shares of the industrial products company's stock valued at $269,000 after purchasing an additional 115 shares during the period. 82.97% of the stock is owned by institutional investors.

Eaton Trading Up 0.4 %

Shares of Eaton stock traded up $1.35 during trading on Monday, reaching $346.54. 2,454,294 shares of the company were exchanged, compared to its average volume of 1,724,943. Eaton Co. plc has a twelve month low of $236.20 and a twelve month high of $379.99. The business has a 50-day moving average price of $354.32 and a 200-day moving average price of $329.97. 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 firm has a market capitalization of $136.95 billion, a price-to-earnings ratio of 36.87, a P/E/G ratio of 2.27 and a beta of 1.06.

Eaton (NYSE:ETN - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.80 by $0.04. The firm had revenue of $6.35 billion during the quarter, compared to analysts' expectations of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The business's revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.47 earnings per share. Sell-side analysts anticipate that Eaton Co. plc will post 10.8 EPS for the current fiscal year.

Eaton Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 4th were paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date of this dividend was Monday, November 4th. Eaton's payout ratio is currently 40.00%.

Insider Activity

In other Eaton news, Director Gregory R. Page sold 10,000 shares of the business's stock in a transaction that occurred on 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 sale, the director now owns 43,203 shares in the company, valued at approximately $15,379,403.94. The trade was a 18.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the business's stock in a transaction on Monday, November 25th. The stock was sold at an average price of $378.58, for a total transaction of $534,554.96. Following the completion of the sale, the insider now directly owns 31,200 shares in the company, valued at approximately $11,811,696. This represents a 4.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 76,981 shares of company stock worth $27,660,117 over the last quarter. 0.33% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on ETN shares. Barclays boosted their price objective 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. JPMorgan Chase & Co. lowered their price target on Eaton from $350.00 to $348.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 15th. Jefferies Financial Group raised their price objective on Eaton from $400.00 to $440.00 and gave the stock a "buy" rating in a research report on Friday, December 6th. Royal Bank of Canada boosted their price objective on Eaton from $374.00 to $392.00 and gave the company an "outperform" rating in a research report on Friday, January 3rd. Finally, Wells Fargo & Company reduced their target price on Eaton from $365.00 to $350.00 and set an "equal weight" rating for the company in a research report on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Eaton presently has an average rating of "Moderate Buy" and a consensus target price of $368.89.

Eaton 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.