Sunflower Bank N.A. Sells 90 Shares of Eaton Co. plc (NYSE:ETN)

Sunflower Bank N.A. trimmed its position in shares of Eaton Co. plc (NYSE:ETN) by 6.4% during the 4th quarter, Holdings Channel reports. The firm owned 1,306 shares of the industrial products company’s stock after selling 90 shares during the period. Sunflower Bank N.A.’s holdings in Eaton were worth $433,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of ETN. Geode Capital Management LLC raised its holdings in Eaton by 0.7% during the third quarter. Geode Capital Management LLC now owns 8,069,341 shares of the industrial products company’s stock valued at $2,665,342,000 after acquiring an additional 56,516 shares during the period. Legal & General Group Plc grew its position in shares of Eaton by 0.6% during the second quarter. Legal & General Group Plc now owns 3,206,251 shares of the industrial products company’s stock worth $1,005,317,000 after purchasing an additional 18,077 shares in the last quarter. Franklin Resources Inc. raised its stake in Eaton by 15.1% during the 3rd quarter. Franklin Resources Inc. now owns 2,421,626 shares of the industrial products company’s stock valued at $836,938,000 after purchasing an additional 316,830 shares during the period. Janus Henderson Group PLC lifted its holdings in Eaton by 32.8% in the 3rd quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company’s stock worth $801,798,000 after purchasing an additional 597,700 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Eaton by 253.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,273,685 shares of the industrial products company’s stock worth $753,590,000 after purchasing an additional 1,629,856 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on ETN shares. Royal Bank of Canada lifted their price objective on shares of Eaton from $374.00 to $392.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Jefferies Financial Group boosted their price target on shares of Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Evercore ISI lowered Eaton from an “outperform” rating to an “inline” rating and raised their price objective for the company from $333.00 to $389.00 in a research report on Wednesday, November 13th. Barclays boosted their target price on Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Finally, Mizuho raised their price target on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Eaton currently has an average rating of “Moderate Buy” and an average price target of $367.61.

Eaton Trading Down 0.2 %

ETN traded down $0.85 during trading hours on Monday, reaching $340.60. 2,523,103 shares of the company’s stock traded hands, compared to its average volume of 2,292,568. The firm has a 50-day moving average price of $355.14 and a 200 day moving average price of $328.96. The firm has a market capitalization of $134.61 billion, a PE ratio of 36.23, a PEG ratio of 2.70 and a beta of 1.06. 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 $236.04 and a 52-week high of $379.99.

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 firm had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. Eaton’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.47 earnings per share. As a group, sell-side analysts predict that Eaton Co. plc will post 10.8 EPS for the current fiscal year.

Eaton Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 4th were issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.10%. The ex-dividend date was Monday, November 4th. Eaton’s payout ratio is 40.00%.

Insider Buying and Selling

In other news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $378.58, for a total transaction of $534,554.96. Following the transaction, the insider now owns 31,200 shares in the company, valued at $11,811,696. This represents a 4.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Gregory R. Page sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the sale, the director now directly owns 51,422 shares in the company, valued at approximately $17,241,796.60. This represents a 7.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 76,981 shares of company stock valued at $27,660,117 over the last 90 days. Corporate insiders own 0.53% of the company’s stock.

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.