Trust Co. of Toledo NA OH reduced its stake in Eaton Co. plc (NYSE:ETN) by 7.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,148 shares of the industrial products company’s stock after selling 1,255 shares during the period. Trust Co. of Toledo NA OH’s holdings in Eaton were worth $2,233,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Oder Investment Management LLC purchased a new position in Eaton in the fourth quarter valued at approximately $25,000. Charter Oak Capital Management LLC purchased a new position in Eaton in the fourth quarter valued at approximately $30,000. Allworth Financial LP increased its stake in Eaton by 605.3% in the fourth quarter. Allworth Financial LP now owns 268 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 230 shares during the last quarter. McCarthy Asset Management Inc. purchased a new position in Eaton in the fourth quarter valued at approximately $34,000. Finally, Peoples Financial Services CORP. increased its stake in Eaton by 69.0% in the fourth quarter. Peoples Financial Services CORP. now owns 294 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 120 shares during the last quarter. Institutional investors own 77.88% of the company’s stock.
Eaton stock traded down $0.29 during midday trading on Thursday, reaching $140.09. The company’s stock had a trading volume of 24,394 shares, compared to its average volume of 2,427,837. Eaton Co. plc has a fifty-two week low of $70.54 and a fifty-two week high of $143.29. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.13 and a current ratio of 1.49. The stock’s 50 day simple moving average is $135.27 and its 200 day simple moving average is $120.14. The firm has a market capitalization of $55.81 billion, a PE ratio of 41.29, a P/E/G ratio of 2.34 and a beta of 1.12.
Eaton (NYSE:ETN) last released its earnings results on Monday, February 1st. The industrial products company reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.08. The company had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.62 billion. Eaton had a return on equity of 11.94% and a net margin of 7.53%. Eaton’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.37 earnings per share. Equities analysts predict that Eaton Co. plc will post 4.17 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, March 30th. Stockholders of record on Tuesday, March 16th were paid a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 2.17%. The ex-dividend date of this dividend was Monday, March 15th. This is an increase from Eaton’s previous quarterly dividend of $0.73. Eaton’s payout ratio is 53.62%.
A number of brokerages have recently issued reports on ETN. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised their target price on shares of Eaton from $142.00 to $158.00 and gave the stock a “buy” rating in a research report on Wednesday, March 31st. Barclays raised their target price on shares of Eaton from $115.00 to $125.00 and gave the stock an “underweight” rating in a research report on Tuesday. Jefferies Financial Group raised their target price on shares of Eaton from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, January 15th. Zacks Investment Research lowered shares of Eaton from a “buy” rating to a “hold” rating and set a $150.00 target price on the stock. in a research report on Tuesday. Finally, HSBC upgraded shares of Eaton from a “hold” rating to a “buy” rating and raised their target price for the stock from $103.00 to $140.00 in a research report on Tuesday, February 16th. One equities 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 company. The stock currently has a consensus rating of “Buy” and a consensus price target of $132.89.
In related news, insider Uday Yadav sold 2,213 shares of Eaton stock in a transaction dated Friday, March 5th. The stock was 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 Eaton stock in a transaction dated Wednesday, March 3rd. The stock was sold at an average price of $135.80, for a total value of $3,090,536.40. Following the sale, the insider now 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. Insiders have sold a total of 36,740 shares of company stock valued at $4,945,066 in the last ninety days. Corporate insiders own 0.54% of the company’s stock.
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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