Eaton Co. plc (NYSE:ETN) Shares Acquired by Equitable Trust Co.

Equitable Trust Co. increased its stake in Eaton Co. plc (NYSE:ETN) by 42.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,497 shares of the industrial products company’s stock after acquiring an additional 445 shares during the period. Equitable Trust Co.’s holdings in Eaton were worth $496,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Choate Investment Advisors raised its stake in Eaton by 2.8% in the first quarter. Choate Investment Advisors now owns 4,011 shares of the industrial products company’s stock valued at $1,254,000 after buying an additional 108 shares in the last quarter. Verus Capital Partners LLC raised its stake in Eaton by 2.7% in the first quarter. Verus Capital Partners LLC now owns 1,619 shares of the industrial products company’s stock valued at $506,000 after buying an additional 43 shares in the last quarter. Headlands Technologies LLC acquired a new stake in Eaton in the first quarter valued at $191,000. Washington Trust Advisors Inc. raised its stake in Eaton by 129.4% in the first quarter. Washington Trust Advisors Inc. now owns 390 shares of the industrial products company’s stock valued at $122,000 after buying an additional 220 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its stake in Eaton by 8.6% in the first quarter. Russell Investments Group Ltd. now owns 341,258 shares of the industrial products company’s stock valued at $106,791,000 after buying an additional 26,948 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Eaton news, insider Craig Arnold sold 61,569 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the transaction, the insider now owns 506,360 shares in the company, valued at approximately $182,780,769.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Heath B. Monesmith sold 49,040 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $301.02, for a total value of $14,762,020.80. Following the sale, the insider now owns 71,262 shares in the company, valued at $21,451,287.24. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Craig Arnold sold 61,569 shares of the company’s 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 sale, the insider now owns 506,360 shares in the company, valued at approximately $182,780,769.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 117,745 shares of company stock worth $39,278,367. Company insiders own 0.53% of the company’s stock.

Eaton Stock Performance

NYSE ETN opened at $366.67 on Monday. 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 business’s 50-day moving average price is $328.30 and its 200 day moving average price is $319.79. Eaton Co. plc has a 52-week low of $217.61 and a 52-week high of $369.29. The firm has a market cap of $144.91 billion, a P/E ratio of 39.01, a P/E/G ratio of 2.88 and a beta of 1.01.

Eaton (NYSE:ETN) last released its earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $6.37 billion. During the same quarter in the previous year, the firm posted $2.47 EPS. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. On average, equities research analysts expect that Eaton Co. plc will post 10.79 earnings per share for the current year.

Eaton Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend is Monday, November 4th. Eaton’s payout ratio is 40.00%.

Analyst Ratings Changes

A number of research firms have recently commented on ETN. Sanford C. Bernstein began coverage on Eaton in a research report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 target price on the stock. Evercore ISI cut their target price on Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a research report on Monday, August 19th. Raymond James cut their target price on Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research report on Monday, September 9th. Morgan Stanley began coverage on Eaton in a research report on Friday, September 6th. They set an “overweight” rating and a $370.00 target price on the stock. Finally, Barclays cut their target price on Eaton from $327.00 to $320.00 and set an “equal weight” rating on the stock in a research report on Friday, November 1st. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Eaton presently has an average rating of “Moderate Buy” and an average price target of $343.28.

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.