UMB Bank n.a. Purchases 17,133 Shares of Eaton Co. plc (NYSE:ETN)

UMB Bank n.a. grew its position in Eaton Co. plc (NYSE:ETN) by 13.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 145,009 shares of the industrial products company’s stock after acquiring an additional 17,133 shares during the period. Eaton comprises approximately 0.8% of UMB Bank n.a.’s portfolio, making the stock its 29th largest position. UMB Bank n.a.’s holdings in Eaton were worth $48,124,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. B. Riley Wealth Advisors Inc. increased its holdings in shares of Eaton by 48.9% in the third quarter. B. Riley Wealth Advisors Inc. now owns 41,106 shares of the industrial products company’s stock worth $13,533,000 after acquiring an additional 13,497 shares in the last quarter. Interval Partners LP raised its holdings in Eaton by 82.7% during the 2nd quarter. Interval Partners LP now owns 151,716 shares of the industrial products company’s stock worth $47,571,000 after buying an additional 68,693 shares during the period. Scientech Research LLC lifted its stake in Eaton by 285.5% in the second quarter. Scientech Research LLC now owns 5,744 shares of the industrial products company’s stock valued at $1,801,000 after buying an additional 4,254 shares in the last quarter. Eastover Investment Advisors LLC acquired a new position in shares of Eaton in the fourth quarter valued at approximately $6,167,000. Finally, Neville Rodie & Shaw Inc. increased its position in shares of Eaton by 6.8% during the fourth quarter. Neville Rodie & Shaw Inc. now owns 38,386 shares of the industrial products company’s stock worth $12,739,000 after acquiring an additional 2,428 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Activity

In other Eaton news, Director Gregory R. Page sold 4,000 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $335.30, for a total value of $1,341,200.00. Following the completion of the transaction, the director now directly owns 51,422 shares in the company, valued at approximately $17,241,796.60. This trade represents a 7.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Craig Arnold sold 61,569 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 506,360 shares in the company, valued at approximately $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. In the last three months, insiders have sold 76,981 shares of company stock worth $27,660,117. Corporate insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Royal Bank of Canada boosted 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. Wells Fargo & Company decreased their price objective on Eaton from $365.00 to $350.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Citigroup reduced their price objective on shares of Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Jefferies Financial Group upped their price objective on Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Finally, Barclays raised their target price on shares of Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $368.89.

Eaton Price Performance

Eaton stock opened at $346.54 on Monday. The stock’s fifty day moving average price is $354.32 and its two-hundred day moving average price is $329.89. The firm has a market cap of $136.95 billion, a PE ratio of 36.87, a price-to-earnings-growth ratio of 2.27 and a beta of 1.06. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00. Eaton Co. plc has a one year low of $236.20 and a one year high of $379.99.

Eaton (NYSE:ETN) last posted its quarterly 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. The business had revenue of $6.35 billion during 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 for the quarter was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.47 earnings per share. As a group, research analysts expect that Eaton Co. plc will post 10.8 EPS for the current fiscal year.

Eaton Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 4th were paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend was Monday, November 4th. Eaton’s payout ratio 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.