Cetera Trust Company N.A Takes $168,000 Position in Eaton Co. plc (NYSE:ETN)

Cetera Trust Company N.A acquired a new stake in Eaton Co. plc (NYSE:ETN) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 698 shares of the industrial products company’s stock, valued at approximately $168,000.

Other institutional investors have also modified their holdings of the company. RB Capital Management LLC increased its holdings in Eaton by 3.5% during the 1st quarter. RB Capital Management LLC now owns 2,759 shares of the industrial products company’s stock worth $419,000 after purchasing an additional 94 shares during the period. Canada Pension Plan Investment Board increased its holdings in Eaton by 74.8% during the 1st quarter. Canada Pension Plan Investment Board now owns 101,412 shares of the industrial products company’s stock worth $15,390,000 after purchasing an additional 43,381 shares during the period. Baird Financial Group Inc. increased its holdings in Eaton by 0.6% during the 1st quarter. Baird Financial Group Inc. now owns 374,204 shares of the industrial products company’s stock worth $56,790,000 after purchasing an additional 2,057 shares during the period. Mather Group LLC. increased its holdings in Eaton by 9.1% during the 1st quarter. Mather Group LLC. now owns 2,682 shares of the industrial products company’s stock worth $407,000 after purchasing an additional 223 shares during the period. Finally, Ergoteles LLC purchased a new position in shares of Eaton in the 1st quarter valued at $1,188,000. 82.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ETN has been the subject of a number of research reports. Mizuho lifted their price target on Eaton from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Evercore ISI lifted their price target on Eaton from $262.00 to $308.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 20th. Wolfe Research reaffirmed an “underperform” rating and set a $312.00 price target on shares of Eaton in a research report on Monday, April 8th. Bank of America lifted their price target on Eaton from $320.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Finally, Citigroup boosted their price objective on Eaton from $270.00 to $310.00 and gave the company a “buy” rating in a report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $295.60.

Insider Activity

In other news, insider Peter Denk sold 1,731 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $288.97, for a total value of $500,207.07. Following the sale, the insider now directly owns 5,514 shares in the company, valued at $1,593,380.58. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Peter Denk sold 1,731 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $288.97, for a total value of $500,207.07. Following the transaction, the insider now owns 5,514 shares of the company’s stock, valued at $1,593,380.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ernest W. Marshall, Jr. sold 19,750 shares of the stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $273.17, for a total value of $5,395,107.50. Following the completion of the transaction, the insider now directly owns 29,712 shares in the company, valued at approximately $8,116,427.04. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,969 shares of company stock worth $10,904,774. Corporate insiders own 0.53% of the company’s stock.

Eaton Stock Up 0.5 %

NYSE:ETN opened at $304.54 on Monday. The company has a quick ratio of 1.02, a current ratio of 1.51 and a debt-to-equity ratio of 0.43. The stock’s fifty day moving average is $300.70 and its two-hundred day moving average is $255.20. Eaton Co. plc has a 52 week low of $161.12 and a 52 week high of $331.47. The stock has a market capitalization of $121.66 billion, a price-to-earnings ratio of 37.78, a price-to-earnings-growth ratio of 2.51 and a beta of 1.07.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.08. The business had revenue of $5.97 billion for the quarter, compared to analysts’ expectations of $5.91 billion. Eaton had a return on equity of 20.05% and a net margin of 13.88%. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period last year, the firm earned $2.06 earnings per share. Research analysts anticipate that Eaton Co. plc will post 10.28 EPS for the current year.

Eaton Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 11th were paid a $0.94 dividend. This is a boost from Eaton’s previous quarterly dividend of $0.86. This represents a $3.76 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend was Friday, March 8th. Eaton’s dividend payout ratio (DPR) is presently 46.88%.

Eaton 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.