CENTRAL TRUST Co Raises Stock Position in Eaton Co. plc (NYSE:ETN)

CENTRAL TRUST Co grew its holdings in Eaton Co. plc (NYSE:ETN – Get Rating) by 0.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,780 shares of the industrial products company’s stock after buying an additional 111 shares during the period. CENTRAL TRUST Co’s holdings in Eaton were worth $2,238,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Carolinas Wealth Consulting LLC lifted its holdings in shares of Eaton by 4,183.1% in the 2nd quarter. Carolinas Wealth Consulting LLC now owns 11,136 shares of the industrial products company’s stock worth $44,000 after acquiring an additional 10,876 shares during the last quarter. M&T Bank Corp lifted its holdings in Eaton by 0.7% during the 3rd quarter. M&T Bank Corp now owns 170,423 shares of the industrial products company’s stock valued at $22,728,000 after buying an additional 1,267 shares in the last quarter. Keebeck Alpha LP lifted its holdings in Eaton by 21.1% during the 3rd quarter. Keebeck Alpha LP now owns 2,632 shares of the industrial products company’s stock valued at $351,000 after buying an additional 458 shares in the last quarter. BTR Capital Management Inc. lifted its holdings in Eaton by 7.3% during the 3rd quarter. BTR Capital Management Inc. now owns 26,147 shares of the industrial products company’s stock valued at $3,487,000 after buying an additional 1,769 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Eaton by 0.3% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,074,148 shares of the industrial products company’s stock valued at $276,608,000 after buying an additional 6,963 shares in the last quarter. Institutional investors own 80.19% of the company’s stock.

Insider Transactions at Eaton

In other news, insider Brian S. Brickhouse sold 21,347 shares of the stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $176.97, for a total value of $3,777,778.59. Following the sale, the insider now owns 15,905 shares in the company, valued at $2,814,707.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Brian S. Brickhouse sold 21,347 shares of the stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $176.97, for a total transaction of $3,777,778.59. Following the sale, the insider now directly owns 15,905 shares of the company’s stock, valued at $2,814,707.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Joao V. Faria sold 5,204 shares of the stock in a transaction on Monday, February 27th. The stock was sold at an average price of $174.55, for a total transaction of $908,358.20. Following the sale, the insider now directly owns 76,314 shares in the company, valued at $13,320,608.70. The disclosure for this sale can be found here. Insiders have sold 33,377 shares of company stock worth $5,864,193 over the last 90 days. 0.56% of the stock is currently owned by company insiders.

Analyst Ratings Changes

ETN has been the subject of a number of research analyst reports. Oppenheimer lowered shares of Eaton from an “outperform” rating to a “market perform” rating in a report on Tuesday, December 6th. Mizuho lifted their price objective on shares of Eaton from $160.00 to $168.00 and gave the company a “buy” rating in a report on Friday, January 13th. Royal Bank of Canada boosted their price target on shares of Eaton from $149.00 to $161.00 and gave the company a “sector perform” rating in a report on Thursday, February 9th. Wells Fargo & Company boosted their price target on shares of Eaton from $169.00 to $180.00 and gave the company an “equal weight” rating in a report on Thursday, February 9th. Finally, Morgan Stanley boosted their price target on shares of Eaton from $185.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, March 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Eaton presently has a consensus rating of “Moderate Buy” and a consensus price target of $173.00.

Eaton Trading Down 7.3 %

Shares of Eaton stock opened at $159.27 on Thursday. The firm has a market capitalization of $63.39 billion, a price-to-earnings ratio of 25.90, a PEG ratio of 1.87 and a beta of 1.13. Eaton Co. plc has a 12-month low of $122.50 and a 12-month high of $178.75. The firm’s 50 day simple moving average is $167.15 and its two-hundred day simple moving average is $155.77. The company has a current ratio of 1.38, a quick ratio of 0.84 and a debt-to-equity ratio of 0.49.

Eaton (NYSE:ETN – Get Rating) last released its quarterly earnings data on Wednesday, February 8th. The industrial products company reported $2.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.05 by $0.01. The firm had revenue of $5.38 billion for the quarter, compared to analyst estimates of $5.34 billion. Eaton had a net margin of 11.86% and a return on equity of 18.31%. The business’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.72 earnings per share. Analysts predict that Eaton Co. plc will post 8.26 EPS for the current year.

Eaton Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 24th. Stockholders of record on Monday, March 6th will be paid a $0.86 dividend. The ex-dividend date of this dividend is Friday, March 3rd. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.16%. This is a positive change from Eaton’s previous quarterly dividend of $0.81. Eaton’s dividend payout ratio is presently 55.93%.

Eaton Company Profile

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Eaton Corp. Plc is a power management company, which provides energy-efficient solutions for electrical, hydraulic, and mechanical power. It operates through the following segments: Electrical Americas and Electrical Global, Hydraulics, Aerospace, Vehicle, and eMobility. The Electrical Americas and Electrical Global segments engage in sales contracts for electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality, wiring devices, circuit protection, utility power distribution, power reliability equipment, and service.