First City Capital Management Inc. Has $1.20 Million Holdings in Eaton Co. plc (NYSE:ETN)

First City Capital Management Inc. reduced its holdings in shares of Eaton Co. plc (NYSE:ETN) by 6.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 3,617 shares of the industrial products company’s stock after selling 262 shares during the quarter. First City Capital Management Inc.’s holdings in Eaton were worth $1,200,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Legacy Capital Wealth Partners LLC acquired a new position in Eaton in the 2nd quarter valued at about $312,000. Simon Quick Advisors LLC increased its stake in shares of Eaton by 30.7% during the second quarter. Simon Quick Advisors LLC now owns 1,760 shares of the industrial products company’s stock worth $552,000 after purchasing an additional 413 shares during the period. Foundations Investment Advisors LLC lifted its holdings in Eaton by 4.1% during the 2nd quarter. Foundations Investment Advisors LLC now owns 1,559 shares of the industrial products company’s stock worth $489,000 after purchasing an additional 61 shares during the last quarter. FineMark National Bank & Trust grew its holdings in Eaton by 2.8% in the 2nd quarter. FineMark National Bank & Trust now owns 3,627 shares of the industrial products company’s stock valued at $1,137,000 after buying an additional 100 shares in the last quarter. Finally, Meridian Wealth Advisors LLC increased its position in Eaton by 3.0% during the 2nd quarter. Meridian Wealth Advisors LLC now owns 28,187 shares of the industrial products company’s stock worth $8,838,000 after buying an additional 815 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Eaton Stock Up 3.1 %

Shares of ETN traded up $10.35 during trading hours on Friday, hitting $342.31. The stock had a trading volume of 998,342 shares, compared to its average volume of 1,283,131. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00. Eaton Co. plc has a 1-year low of $233.73 and a 1-year high of $379.99. The firm has a 50 day simple moving average of $354.71 and a 200-day simple moving average of $327.98. The firm has a market capitalization of $135.28 billion, a P/E ratio of 36.42, a price-to-earnings-growth ratio of 2.74 and a beta of 1.03.

Eaton (NYSE:ETN) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.80 by $0.04. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The firm had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.37 billion. During the same quarter in the prior year, the company posted $2.47 earnings per share. The business’s revenue was up 7.9% on a year-over-year basis. Sell-side analysts predict that Eaton Co. plc will post 10.8 EPS for the current fiscal year.

Eaton Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 4th were given a dividend of $0.94 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $3.76 annualized dividend and a dividend yield of 1.10%. Eaton’s payout ratio is 40.00%.

Insider Buying and Selling at Eaton

In other Eaton news, Director Gregory R. Page sold 4,000 shares of the stock in a transaction dated 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 completion of the sale, the director now owns 51,422 shares in the company, valued at approximately $17,241,796.60. This trade represents a 7.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $378.58, for a total value of $534,554.96. Following the completion of the transaction, the insider now directly owns 31,200 shares of the company’s stock, valued at approximately $11,811,696. This represents a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 76,981 shares of company stock worth $27,660,117. Corporate insiders own 0.53% of the company’s stock.

Analyst Upgrades and Downgrades

ETN has been the subject of a number of recent research reports. Mizuho boosted their target price on shares of Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Sanford C. Bernstein initiated coverage on shares of Eaton in a research report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 target price on the stock. Morgan Stanley initiated coverage on Eaton in a research note on Friday, September 6th. They issued an “overweight” rating and a $370.00 price target for the company. Evercore ISI lowered Eaton from an “outperform” rating to an “inline” rating and raised their price objective for the stock from $333.00 to $389.00 in a research note on Wednesday, November 13th. Finally, Wells Fargo & Company increased their target price on Eaton from $315.00 to $342.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $368.83.

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.