Trustmark National Bank Trust Department Has $6.58 Million Holdings in Eaton Co. plc (NYSE:ETN)

Trustmark National Bank Trust Department lowered its stake in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 6.9% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 19,852 shares of the industrial products company's stock after selling 1,481 shares during the period. Trustmark National Bank Trust Department's holdings in Eaton were worth $6,580,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ETN. Breakwater Investment Management increased its position in shares of Eaton by 1,560.0% during the second quarter. Breakwater Investment Management now owns 83 shares of the industrial products company's stock valued at $26,000 after acquiring an additional 78 shares during the last quarter. Proffitt & Goodson Inc. purchased a new stake in shares of Eaton during the 2nd quarter valued at $29,000. LGT Financial Advisors LLC bought a new stake in shares of Eaton during the 2nd quarter worth $33,000. West Financial Advisors LLC bought a new position in Eaton during the third quarter valued at about $35,000. Finally, DiNuzzo Private Wealth Inc. purchased a new stake in Eaton during the second quarter worth about $37,000. 82.97% of the stock is owned by institutional investors.

Insider Buying and Selling at Eaton

In related news, insider Michael Yelton sold 3,136 shares of the stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $303.12, for a total transaction of $950,584.32. Following the completion of the sale, the insider now directly owns 3,914 shares in the company, valued at $1,186,411.68. This represents a 44.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Craig Arnold sold 61,569 shares of Eaton 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 in the company, valued at $182,780,769.20. This trade represents a 10.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 68,705 shares of company stock worth $24,516,346 over the last ninety days. Insiders own 0.53% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Barclays reduced their target price on shares of Eaton from $327.00 to $320.00 and set an "equal weight" rating for the company in a research report on Friday, November 1st. Raymond James decreased their target price on Eaton from $375.00 to $365.00 and set an "outperform" rating for the company in a research report on Monday, September 9th. Morgan Stanley started coverage on Eaton in a research report on Friday, September 6th. They set an "overweight" rating and a $370.00 price target on the stock. Wells Fargo & Company lifted their price objective on Eaton from $315.00 to $342.00 and gave the stock an "equal weight" rating in a report on Monday, October 7th. Finally, Wolfe Research raised shares of Eaton from an "underperform" rating to a "peer perform" rating in a report on Friday, September 6th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $357.83.

Eaton Price Performance

ETN stock opened at $360.46 on Thursday. The firm has a 50 day simple moving average of $339.96 and a two-hundred day simple moving average of $322.31. 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 stock has a market cap of $142.45 billion, a PE ratio of 38.35, a P/E/G ratio of 2.89 and a beta of 1.01. Eaton Co. plc has a one year low of $224.52 and a one year high of $373.49.

Eaton (NYSE:ETN - Get Free Report) last released its earnings results on Thursday, October 31st. The industrial products company reported $2.84 EPS 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 business had revenue of $6.35 billion for the quarter, compared to analysts' expectations of $6.37 billion. During the same quarter in the prior year, the firm earned $2.47 earnings per share. The firm's revenue was up 7.9% on a year-over-year basis. On average, analysts predict that Eaton Co. plc will post 10.79 EPS for the current fiscal year.

Eaton Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be paid a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend is Monday, November 4th. Eaton's dividend payout ratio is currently 40.00%.

Eaton Company 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.

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