Trust Co. of Vermont lowered its position in Eaton Co. plc (NYSE:ETN - Free Report) by 1.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 43,735 shares of the industrial products company's stock after selling 775 shares during the period. Trust Co. of Vermont's holdings in Eaton were worth $14,514,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Shelton Wealth Management LLC grew its stake in shares of Eaton by 3.5% in the 4th quarter. Shelton Wealth Management LLC now owns 2,967 shares of the industrial products company's stock worth $985,000 after acquiring an additional 100 shares in the last quarter. Sanibel Captiva Trust Company Inc. lifted its position in shares of Eaton by 6.0% during the 4th quarter. Sanibel Captiva Trust Company Inc. now owns 5,006 shares of the industrial products company's stock worth $1,661,000 after buying an additional 285 shares in the last quarter. Spring Capital Management LLC grew its holdings in shares of Eaton by 2.5% in the fourth quarter. Spring Capital Management LLC now owns 32,212 shares of the industrial products company's stock valued at $10,690,000 after acquiring an additional 793 shares in the last quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH increased its position in shares of Eaton by 2.0% during the fourth quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 1,639 shares of the industrial products company's stock valued at $544,000 after acquiring an additional 32 shares during the last quarter. Finally, InTrack Investment Management Inc lifted its holdings in Eaton by 52.2% during the fourth quarter. InTrack Investment Management Inc now owns 6,717 shares of the industrial products company's stock worth $2,285,000 after acquiring an additional 2,305 shares during the period. 82.97% of the stock is owned by institutional investors.
Insider Transactions at Eaton
In other Eaton news, Director Gregory R. Page sold 10,000 shares of Eaton stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the sale, the director now directly owns 43,203 shares of the company's stock, 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 can be accessed through this link. 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 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 $182,780,769.20. This represents a 10.84 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 76,981 shares of company stock worth $27,660,117. Company insiders own 0.33% of the company's stock.
Eaton Price Performance
Shares of NYSE ETN traded up $1.35 during trading hours on Friday, reaching $346.54. 2,454,294 shares of the stock traded hands, compared to its average volume of 1,724,943. The company has a market capitalization of $136.95 billion, a P/E ratio of 36.87, a price-to-earnings-growth ratio of 2.27 and a beta of 1.06. The company's 50-day simple moving average is $354.32 and its two-hundred day simple moving average is $329.89. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. Eaton Co. plc has a 52-week low of $236.20 and a 52-week high of $379.99.
Eaton (NYSE:ETN - Get Free Report) last released its earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, beating analysts' consensus estimates of $2.80 by $0.04. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The company had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.37 billion. During the same quarter in the previous year, the company posted $2.47 EPS. Eaton's revenue for the quarter was up 7.9% on a year-over-year basis. Equities research analysts forecast that Eaton Co. plc will post 10.8 EPS for the current year.
Eaton Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 4th were paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend was Monday, November 4th. Eaton's dividend payout ratio (DPR) is 40.00%.
Analyst Ratings Changes
A number of equities analysts recently weighed in on the stock. Wells Fargo & Company cut their price target on shares of Eaton from $365.00 to $350.00 and set an "equal weight" rating on the stock in a report on Tuesday, January 7th. Jefferies Financial Group upped their price target on Eaton from $400.00 to $440.00 and gave the company a "buy" rating in a research report on Friday, December 6th. UBS Group began coverage on shares of Eaton in a research report on Wednesday, November 13th. They set a "buy" rating and a $431.00 target price for the company. Bank of America boosted their price target on shares of Eaton from $350.00 to $410.00 and gave the company a "buy" rating in a research report on Wednesday, November 13th. Finally, Sanford C. Bernstein started coverage on shares of Eaton in a report on Tuesday, November 5th. They set an "outperform" rating and a $382.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $368.89.
Check Out Our Latest Analysis on ETN
Eaton Company Profile
(
Free Report)
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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