Eaton Co. plc (NYSE:ETN) Shares Sold by Farmers Trust Co.

by · The Cerbat Gem

Farmers Trust Co. decreased its stake in Eaton Co. plc (NYSE:ETN – Free Report) by 3.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,384 shares of the industrial products company’s stock after selling 105 shares during the quarter. Farmers Trust Co.’s holdings in Eaton were worth $1,123,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of ETN. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Eaton by 253.2% during 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 in the last quarter. International Assets Investment Management LLC raised its position in Eaton by 27,075.5% during the third quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company’s stock valued at $355,959,000 after buying an additional 1,070,024 shares during the period. Janus Henderson Group PLC lifted its stake 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 acquiring an additional 597,700 shares in the last quarter. Wulff Hansen & CO. lifted its stake in Eaton by 31,255.0% in the 2nd quarter. Wulff Hansen & CO. now owns 478,164 shares of the industrial products company’s stock worth $149,928,000 after acquiring an additional 476,639 shares in the last quarter. Finally, Electron Capital Partners LLC boosted its position in Eaton by 8,348.9% during the 2nd quarter. Electron Capital Partners LLC now owns 446,524 shares of the industrial products company’s stock worth $140,008,000 after acquiring an additional 441,239 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling at Eaton

In other news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 31,200 shares of the company’s stock, valued at $11,811,696. The trade was a 4.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gregory R. Page sold 4,000 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $335.30, for a total value of $1,341,200.00. Following the sale, the director now directly owns 51,422 shares of the company’s stock, valued at $17,241,796.60. This represents a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 76,981 shares of company stock valued at $27,660,117. 0.53% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Wells Fargo & Company reduced their price target on shares of Eaton from $365.00 to $350.00 and set an “equal weight” rating for the company in a research report on Tuesday. Evercore ISI lowered shares of Eaton from an “outperform” rating to an “inline” rating and lifted their target price for the company from $333.00 to $389.00 in a research note on Wednesday, November 13th. Jefferies Financial Group upped 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. Barclays upped 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 lifted 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 given a buy rating to the company. According to data from MarketBeat, Eaton presently has an average rating of “Moderate Buy” and a consensus target price of $369.28.

Check Out Our Latest Stock Analysis on ETN

Eaton Price Performance

Shares of ETN stock traded up $0.81 during mid-day trading on Wednesday, reaching $344.72. The company’s stock had a trading volume of 1,398,440 shares, compared to its average volume of 2,204,967. The firm’s 50-day moving average is $354.69 and its two-hundred day moving average is $328.46. The company has a market cap of $136.23 billion, a P/E ratio of 36.67, a PEG ratio of 2.74 and a beta of 1.06. Eaton Co. plc has a 1-year low of $235.67 and a 1-year high of $379.99. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53.

Eaton (NYSE:ETN – Get Free Report) last posted its quarterly 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. The firm had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The company’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.47 earnings per share. On average, research analysts predict 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. Shareholders of record on Monday, November 4th were given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date of this dividend was Monday, November 4th. Eaton’s dividend payout ratio (DPR) is 40.00%.

Eaton Profile

(Free Report)

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.

See Also

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