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

Private Trust Co. NA boosted its stake in shares of Eaton Co. plc (NYSE:ETN) by 4.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,549 shares of the industrial products company’s stock after purchasing an additional 353 shares during the quarter. Private Trust Co. NA’s holdings in Eaton were worth $2,502,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in ETN. Price T Rowe Associates Inc. MD boosted its holdings in shares of Eaton by 1.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 576,657 shares of the industrial products company’s stock valued at $180,310,000 after buying an additional 8,153 shares in the last quarter. Ascent Group LLC purchased a new position in Eaton during the 1st quarter worth $231,000. Waverly Advisors LLC increased its stake in Eaton by 7.1% in the first quarter. Waverly Advisors LLC now owns 7,323 shares of the industrial products company’s stock valued at $2,290,000 after purchasing an additional 483 shares during the period. Bayesian Capital Management LP purchased a new stake in shares of Eaton in the first quarter valued at about $600,000. Finally, Janus Henderson Group PLC boosted its stake in shares of Eaton by 15.5% during the first quarter. Janus Henderson Group PLC now owns 1,318,025 shares of the industrial products company’s stock worth $412,108,000 after buying an additional 176,571 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Stock Performance

Shares of NYSE:ETN opened at $378.80 on Monday. 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 firm has a market capitalization of $149.70 billion, a PE ratio of 40.15, a P/E/G ratio of 2.99 and a beta of 1.01. The business has a 50-day moving average of $342.75 and a two-hundred day moving average of $322.91. Eaton Co. plc has a 12 month low of $224.52 and a 12 month high of $378.80.

Eaton (NYSE:ETN) last released its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The business had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.37 billion. During the same quarter last year, the company earned $2.47 earnings per share. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. As a group, research analysts forecast that Eaton Co. plc will post 10.8 earnings per share for the current year.

Eaton Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 4th were issued a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 0.99%. The ex-dividend date was Monday, November 4th. Eaton’s dividend payout ratio (DPR) is 40.00%.

Insider Buying and Selling

In other news, insider Craig Arnold sold 61,569 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Dorothy C. Thompson bought 2,205 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was purchased at an average price of $300.30 per share, with a total value of $662,161.50. Following the completion of the transaction, the director now directly owns 2,205 shares of the company’s stock, valued at $662,161.50. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 68,705 shares of company stock worth $24,516,346 in the last three months. 0.33% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have commented on ETN. Mizuho upped their price objective on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Morgan Stanley started coverage on shares of Eaton in a research report on Friday, September 6th. They set an “overweight” rating and a $370.00 target price on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $374.00 price target on shares of Eaton in a report on Friday, November 1st. Raymond James dropped their target price on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a report on Monday, September 9th. Finally, Barclays decreased their price target on Eaton from $327.00 to $320.00 and set an “equal weight” rating on the stock in a research note on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, Eaton currently has an average rating of “Moderate Buy” and an average target price of $357.83.

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.