Eaton Co. plc (NYSE:ETN) Shares Purchased by Private Trust Co. NA

Private Trust Co. NA grew its stake in shares of Eaton Co. plc (NYSE:ETN) by 4.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 7,549 shares of the industrial products company’s stock after acquiring an additional 353 shares during the period. Private Trust Co. NA’s holdings in Eaton were worth $2,502,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Breakwater Investment Management increased its stake in Eaton by 1,560.0% in the 2nd quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 78 shares in the last quarter. Proffitt & Goodson Inc. purchased a new position in shares of Eaton in the second quarter worth approximately $29,000. LGT Financial Advisors LLC acquired a new stake in shares of Eaton during the second quarter valued at approximately $33,000. West Financial Advisors LLC purchased a new position in Eaton during the 3rd quarter worth approximately $35,000. Finally, DiNuzzo Private Wealth Inc. acquired a new stake in Eaton during the 2nd quarter valued at $37,000. 82.97% of the stock is owned by institutional investors.

Eaton Price Performance

Shares of ETN opened at $378.80 on Monday. The stock’s 50-day moving average price is $342.75 and its two-hundred day moving average price is $322.91. Eaton Co. plc has a 1 year low of $224.52 and a 1 year high of $378.80. The stock has a market cap of $149.70 billion, a P/E ratio of 40.15, a price-to-earnings-growth ratio of 2.99 and a beta of 1.01. The company has a current ratio of 1.53, a quick ratio of 1.00 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 earnings per share for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. The firm had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the prior year, the business earned $2.47 EPS. On average, equities analysts predict that Eaton Co. plc will post 10.8 earnings per share for the current year.

Eaton Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 4th were paid a $0.94 dividend. The ex-dividend date was Monday, November 4th. This represents a $3.76 annualized dividend and a yield of 0.99%. Eaton’s payout ratio is currently 40.00%.

Analysts Set New Price Targets

ETN has been the subject of several recent analyst reports. Evercore ISI cut Eaton from an “outperform” rating to an “inline” rating and raised their target price for the stock from $333.00 to $389.00 in a research report on Wednesday, November 13th. Raymond James dropped their target price on Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a report on Monday, September 9th. Citigroup started coverage on shares of Eaton in a research report on Monday, September 16th. They set a “buy” rating and a $348.00 price objective on the stock. Wolfe Research raised shares of Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Finally, Barclays cut their price objective on Eaton from $327.00 to $320.00 and set an “equal weight” rating for the company in a research report on Friday, November 1st. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $357.83.

Insider Transactions at Eaton

In other news, insider Craig Arnold sold 61,569 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the transaction, the insider now directly owns 506,360 shares in the company, valued at $182,780,769.20. The trade was a 10.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Michael Yelton sold 3,136 shares of the firm’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $303.12, for a total transaction of $950,584.32. Following the completion of the sale, the insider now owns 3,914 shares of the company’s stock, valued at $1,186,411.68. This trade represents a 44.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 68,705 shares of company stock worth $24,516,346 in the last three months. Insiders own 0.33% of the company’s stock.

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.