Canandaigua National Corp lifted its position in shares of Eaton Co. plc (NYSE:ETN) by 0.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,244 shares of the industrial products company’s stock after purchasing an additional 73 shares during the period. Canandaigua National Corp’s holdings in Eaton were worth $2,385,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of the company. SWS Partners boosted its holdings in shares of Eaton by 1.3% during the fourth quarter. SWS Partners now owns 19,546 shares of the industrial products company’s stock worth $2,348,000 after purchasing an additional 246 shares during the period. Alpha DNA Investment Management LLC purchased a new stake in Eaton in the fourth quarter worth about $640,000. Mach 1 Financial Group Inc. purchased a new stake in Eaton in the fourth quarter worth about $687,000. Valley Brook Capital Group purchased a new stake in Eaton in the fourth quarter worth about $92,000. Finally, Firethorn Wealth Partners LLC purchased a new stake in Eaton in the fourth quarter worth about $225,000. Institutional investors own 77.88% of the company’s stock.
NYSE:ETN traded down $0.56 during trading hours on Thursday, reaching $139.82. The company had a trading volume of 13,308 shares, compared to its average volume of 2,427,837. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 0.48. Eaton Co. plc has a 52 week low of $70.54 and a 52 week high of $143.29. The firm has a market cap of $55.70 billion, a price-to-earnings ratio of 41.29, a PEG ratio of 2.34 and a beta of 1.12. The firm’s 50 day moving average price is $135.27 and its 200-day moving average price is $120.14.
Eaton (NYSE:ETN) last posted its earnings results on Monday, February 1st. The industrial products company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.08. Eaton had a net margin of 7.53% and a return on equity of 11.94%. The business had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.62 billion. During the same quarter in the previous year, the firm posted $1.37 EPS. The firm’s revenue was down 10.5% on a year-over-year basis. On average, analysts forecast that Eaton Co. plc will post 4.17 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 30th. Stockholders of record on Tuesday, March 16th were given a dividend of $0.76 per share. This is an increase from Eaton’s previous quarterly dividend of $0.73. The ex-dividend date was Monday, March 15th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 2.17%. Eaton’s payout ratio is presently 53.62%.
In other news, insider Uday Yadav sold 2,213 shares of the business’s stock in a transaction on Friday, March 5th. The shares were sold at an average price of $135.12, for a total transaction of $299,020.56. Also, insider Brian S. Brickhouse sold 22,758 shares of the business’s stock in a transaction on Wednesday, March 3rd. The shares were sold at an average price of $135.80, for a total transaction of $3,090,536.40. Following the sale, the insider now directly owns 15,587 shares of the company’s stock, valued at approximately $2,116,714.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,740 shares of company stock valued at $4,945,066. Insiders own 0.54% of the company’s stock.
Several brokerages have commented on ETN. Credit Suisse Group raised their price objective on shares of Eaton from $130.00 to $140.00 and gave the stock an “outperform” rating in a report on Wednesday, February 3rd. Argus raised their price objective on shares of Eaton from $120.00 to $130.00 in a report on Thursday, December 10th. Oppenheimer raised their price objective on shares of Eaton from $133.00 to $145.00 in a report on Tuesday, March 2nd. Berenberg Bank upgraded shares of Eaton from a “hold” rating to a “buy” rating and set a $160.00 target price for the company in a report on Monday, March 15th. Finally, Barclays lifted their target price on shares of Eaton from $115.00 to $125.00 and gave the company an “underweight” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $132.89.
Eaton Company Profile
Eaton Corporation plc operates as a power management company. Its Electrical Americas and Electrical Global segment provides electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality products, wiring devices, circuit protection products, utility power distribution products, power reliability equipment, and services in North and South America, as well as hazardous duty electrical, emergency lighting, fire detection, explosion-proof instrumentation, and structural support systems internationally.
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