Simmons Bank Sells 101 Shares of Eaton Co. plc (NYSE:ETN)

Simmons Bank reduced its position in Eaton Co. plc (NYSE:ETN) by 1.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,682 shares of the industrial products company’s stock after selling 101 shares during the quarter. Simmons Bank’s holdings in Eaton were worth $2,546,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Dillon & Associates Inc. boosted its position in shares of Eaton by 50.7% in the third quarter. Dillon & Associates Inc. now owns 7,718 shares of the industrial products company’s stock valued at $2,555,000 after acquiring an additional 2,596 shares during the period. Victory Capital Management Inc. raised its stake in Eaton by 3.6% in the third quarter. Victory Capital Management Inc. now owns 334,528 shares of the industrial products company’s stock valued at $110,876,000 after purchasing an additional 11,550 shares in the last quarter. Aptus Capital Advisors LLC raised its stake in Eaton by 20.9% in the third quarter. Aptus Capital Advisors LLC now owns 32,562 shares of the industrial products company’s stock valued at $10,792,000 after purchasing an additional 5,639 shares in the last quarter. Aigen Investment Management LP purchased a new stake in Eaton in the third quarter valued at approximately $896,000. Finally, Savvy Advisors Inc. raised its stake in Eaton by 249.7% in the third quarter. Savvy Advisors Inc. now owns 3,840 shares of the industrial products company’s stock valued at $1,273,000 after purchasing an additional 2,742 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ETN shares. Wolfe Research raised shares of Eaton from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. UBS Group initiated coverage on shares of Eaton in a research note on Wednesday. They issued a “buy” rating and a $431.00 target price on the stock. Raymond James decreased their price target on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research note on Monday, September 9th. Royal Bank of Canada reissued an “outperform” rating and set a $374.00 price target on shares of Eaton in a research note on Friday, November 1st. Finally, Sanford C. Bernstein initiated coverage on shares of Eaton in a research note on Tuesday, November 5th. They set an “outperform” rating and a $382.00 price target on the stock. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $357.83.

Insider Activity

In related news, Director Karenann K. Terrell bought 500 shares of the stock in a transaction on Wednesday, August 21st. The shares were acquired at an average price of $298.97 per share, for a total transaction of $149,485.00. Following the purchase, the director now owns 500 shares of the company’s stock, valued at approximately $149,485. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Eaton news, Director Karenann K. Terrell purchased 500 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were acquired at an average cost of $298.97 per share, for a total transaction of $149,485.00. Following the completion of the transaction, the director now owns 500 shares of the company’s stock, valued at approximately $149,485. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Craig Arnold sold 61,569 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total value of $22,224,561.93. Following the completion of the sale, the insider now owns 506,360 shares of the company’s stock, valued at $182,780,769.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 68,705 shares of company stock worth $24,516,346. Corporate insiders own 0.53% of the company’s stock.

Eaton Stock Performance

NYSE:ETN opened at $369.88 on Thursday. The stock has a market cap of $146.18 billion, a P/E ratio of 39.35, a price-to-earnings-growth ratio of 2.96 and a beta of 1.01. The firm’s fifty day simple moving average is $331.19 and its 200 day simple moving average is $320.50. Eaton Co. plc has a twelve month low of $223.87 and a twelve month high of $373.49. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45.

Eaton (NYSE:ETN) last announced its earnings results on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $6.37 billion. During the same quarter in the previous year, the business posted $2.47 EPS. The company’s quarterly revenue was up 7.9% on a year-over-year basis. As a group, research analysts predict that Eaton Co. plc will post 10.79 EPS for the current year.

Eaton Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Monday, November 4th will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend is Monday, November 4th. Eaton’s dividend payout ratio (DPR) is presently 40.00%.

Eaton Company 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.