Iowa State Bank Has $7.75 Million Stake in Eaton Co. plc (NYSE:ETN)

Iowa State Bank decreased its position in Eaton Co. plc (NYSE:ETN) by 0.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 23,358 shares of the industrial products company’s stock after selling 161 shares during the period. Eaton makes up 1.6% of Iowa State Bank’s portfolio, making the stock its 20th largest position. Iowa State Bank’s holdings in Eaton were worth $7,752,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Strategic Wealth Partners Ltd. grew its holdings in shares of Eaton by 3.0% in the third quarter. Strategic Wealth Partners Ltd. now owns 1,027 shares of the industrial products company’s stock valued at $340,000 after acquiring an additional 30 shares in the last quarter. Fairfield Financial Advisors LTD grew its stake in Eaton by 16.2% in the 3rd quarter. Fairfield Financial Advisors LTD now owns 215 shares of the industrial products company’s stock valued at $71,000 after purchasing an additional 30 shares during the period. Venturi Wealth Management LLC increased its position in shares of Eaton by 2.1% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,549 shares of the industrial products company’s stock valued at $513,000 after purchasing an additional 32 shares during the last quarter. Austin Private Wealth LLC raised its stake in shares of Eaton by 3.7% during the 3rd quarter. Austin Private Wealth LLC now owns 929 shares of the industrial products company’s stock worth $308,000 after purchasing an additional 33 shares during the period. Finally, Smithfield Trust Co grew its position in Eaton by 0.6% during the third quarter. Smithfield Trust Co now owns 5,390 shares of the industrial products company’s stock valued at $1,789,000 after buying an additional 33 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

ETN has been the subject of a number of research reports. Wells Fargo & Company increased their target price on shares of Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Barclays boosted their price objective on Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Evercore ISI downgraded shares of Eaton from an “outperform” rating to an “inline” rating and lifted their target price for the stock from $333.00 to $389.00 in a research note on Wednesday, November 13th. UBS Group assumed coverage on shares of Eaton in a research note on Wednesday, November 13th. They issued a “buy” rating and a $431.00 price objective for the company. Finally, Bank of America raised their target price on Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Four research 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 an average rating of “Moderate Buy” and an average price target of $368.83.

Insider Activity

In related news, Director Gregory R. Page sold 10,000 shares of the firm’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 transaction of $3,559,800.00. Following the completion of the transaction, the director now owns 43,203 shares of the company’s stock, valued at $15,379,403.94. This trade represents a 18.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 value of $534,554.96. Following the completion of the sale, the insider now directly owns 31,200 shares in the company, valued at $11,811,696. This trade represents a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 76,981 shares of company stock worth $27,660,117 in the last quarter. 0.53% of the stock is owned by company insiders.

Eaton Trading Up 2.2 %

Shares of NYSE:ETN traded up $7.45 during trading on Monday, reaching $350.03. 1,278,462 shares of the company traded hands, compared to its average volume of 1,777,295. The business’s fifty day moving average is $354.67 and its 200-day moving average is $328.11. Eaton Co. plc has a 52-week low of $234.20 and a 52-week high of $379.99. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $138.33 billion, a price-to-earnings ratio of 37.24, a P/E/G ratio of 2.74 and a beta of 1.06.

Eaton (NYSE:ETN) last announced its quarterly earnings results 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 company had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. Eaton’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.47 EPS. As a group, analysts forecast that Eaton Co. plc will post 10.8 EPS for the current year.

Eaton Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 4th were issued a dividend of $0.94 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.07%. Eaton’s dividend payout ratio (DPR) is 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.