Chevy Chase Trust Holdings LLC Lowers Holdings in Eaton Co. plc (NYSE:ETN)

Chevy Chase Trust Holdings LLC lowered its position in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 1.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 218,743 shares of the industrial products company's stock after selling 2,783 shares during the period. Chevy Chase Trust Holdings LLC owned about 0.05% of Eaton worth $68,587,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Tennessee Valley Asset Management Partners bought a new stake in shares of Eaton in the 4th quarter valued at about $25,000. LifeSteps Financial Inc. acquired a new stake in Eaton in the first quarter valued at approximately $25,000. Atwood & Palmer Inc. grew its holdings in Eaton by 142.9% in the first quarter. Atwood & Palmer Inc. now owns 85 shares of the industrial products company's stock worth $27,000 after purchasing an additional 50 shares during the last quarter. Clear Investment Research LLC purchased a new stake in shares of Eaton during the 4th quarter valued at $29,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in shares of Eaton in the 1st quarter worth $33,000. 82.97% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on ETN shares. Argus increased their price target on Eaton from $290.00 to $350.00 and gave the company a "buy" rating in a research note on Thursday, May 2nd. Royal Bank of Canada lowered their target price on shares of Eaton from $376.00 to $371.00 and set an "outperform" rating for the company in a research note on Friday, August 2nd. Evercore ISI cut their price target on shares of Eaton from $357.00 to $333.00 and set an "outperform" rating on the stock in a research note on Monday. Barclays boosted their price objective on shares of Eaton from $318.00 to $319.00 and gave the company an "equal weight" rating in a report on Friday, August 2nd. Finally, HSBC upped their target price on Eaton from $240.00 to $280.00 and gave the company a "hold" rating in a research report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $328.00.

Eaton Stock Performance

Eaton stock traded down $0.81 during mid-day trading on Tuesday, hitting $296.24. The company had a trading volume of 1,327,169 shares, compared to its average volume of 2,180,449. The company has a current ratio of 1.56, a quick ratio of 1.05 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $118.44 billion, a price-to-earnings ratio of 34.98, a P/E/G ratio of 2.47 and a beta of 1.02. The company's fifty day moving average is $309.70 and its 200-day moving average is $309.28. Eaton Co. plc has a 12-month low of $191.82 and a 12-month high of $345.19.

Eaton Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Monday, August 5th will be given a dividend of $0.94 per share. The ex-dividend date is Monday, August 5th. This represents a $3.76 annualized dividend and a yield of 1.27%. Eaton's dividend payout ratio is presently 44.39%.

Insider Buying and Selling at Eaton

In other news, insider Heath B. Monesmith sold 49,040 shares of the firm's stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $301.02, for a total transaction of $14,762,020.80. Following the sale, the insider now directly owns 71,262 shares in the company, valued at approximately $21,451,287.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Eaton news, insider Taras G. Jr. Szmagala sold 335 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $288.72, for a total transaction of $96,721.20. Following the transaction, the insider now directly owns 9,900 shares of the company's stock, valued at $2,858,328. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Heath B. Monesmith sold 49,040 shares of the business's stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $301.02, for a total transaction of $14,762,020.80. Following the sale, the insider now directly owns 71,262 shares of the company's stock, valued at approximately $21,451,287.24. The disclosure for this sale can be found here. 0.53% of the stock is 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.

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