Eaton Co. plc (NYSE:ETN) Shares Acquired by FARMERS & MERCHANTS TRUST Co OF LONG BEACH

FARMERS & MERCHANTS TRUST Co OF LONG BEACH grew its position in Eaton Co. plc (NYSE:ETN) by 82.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,629 shares of the industrial products company’s stock after purchasing an additional 736 shares during the period. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Eaton were worth $511,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of ETN. LifeSteps Financial Inc. acquired a new position in shares of Eaton in the 1st quarter valued at about $25,000. Atwood & Palmer Inc. lifted its stake in shares of Eaton by 142.9% in the 1st quarter. Atwood & Palmer Inc. now owns 85 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 50 shares in the last quarter. Clear Investment Research LLC acquired a new position in shares of Eaton in the 4th quarter valued at about $29,000. Proffitt & Goodson Inc. acquired a new position in shares of Eaton in the 2nd quarter valued at about $29,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in shares of Eaton during the 1st quarter valued at about $33,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Eaton Price Performance

Shares of NYSE ETN opened at $289.38 on Tuesday. Eaton Co. plc has a twelve month low of $191.82 and a twelve month high of $345.19. The company has a current ratio of 1.56, a quick ratio of 1.07 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $115.20 billion, a price-to-earnings ratio of 34.17, a price-to-earnings-growth ratio of 2.19 and a beta of 1.01. The business has a 50 day simple moving average of $302.03 and a 200-day simple moving average of $311.45.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Thursday, August 1st. The industrial products company reported $2.73 earnings per share for the quarter, beating analysts’ consensus estimates of $2.61 by $0.12. Eaton had a return on equity of 21.45% and a net margin of 15.12%. The business had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.35 billion. As a group, equities research analysts expect that Eaton Co. plc will post 10.74 earnings per share for the current year.

Eaton Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were given a dividend of $0.94 per share. The ex-dividend date of this dividend was Monday, August 5th. This represents a $3.76 dividend on an annualized basis and a yield of 1.30%. Eaton’s dividend payout ratio is currently 44.39%.

Analyst Upgrades and Downgrades

ETN has been the topic of several analyst reports. Wells Fargo & Company dropped their target price on Eaton from $320.00 to $315.00 and set an “equal weight” rating on the stock in a report on Friday, August 2nd. Royal Bank of Canada dropped their target price on Eaton from $376.00 to $371.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Morgan Stanley initiated coverage on Eaton in a report on Friday. They set an “overweight” rating and a $370.00 target price on the stock. Wolfe Research upgraded Eaton from an “underperform” rating to a “peer perform” rating in a report on Friday. Finally, Jefferies Financial Group raised their target price on Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Eaton presently has an average rating of “Moderate Buy” and a consensus target price of $335.18.

Insider Activity at Eaton

In other Eaton news, insider Heath B. Monesmith sold 49,040 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $301.02, for a total transaction of $14,762,020.80. Following the completion of the transaction, the insider now owns 71,262 shares in the company, valued at approximately $21,451,287.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Dorothy C. Thompson acquired 2,205 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was acquired at an average price of $300.30 per share, for a total transaction of $662,161.50. Following the completion of the acquisition, the director now directly owns 2,205 shares in the company, valued at approximately $662,161.50. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Heath B. Monesmith sold 49,040 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $301.02, for a total value of $14,762,020.80. Following the completion of the sale, the insider now owns 71,262 shares of the company’s stock, valued at approximately $21,451,287.24. The disclosure for this sale can be found here. Insiders sold 52,511 shares of company stock worth $15,809,326 in the last 90 days. 0.53% of the stock is currently owned by company insiders.

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.