FARMERS & MERCHANTS TRUST Co OF LONG BEACH Has $544,000 Holdings in Eaton Co. plc (NYSE:ETN)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH grew its holdings in Eaton Co. plc (NYSE:ETN) by 2.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,639 shares of the industrial products company’s stock after purchasing an additional 32 shares during the period. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Eaton were worth $544,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Horizon Bancorp Inc. IN lifted its position in Eaton by 321.7% in the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock worth $32,000 after buying an additional 74 shares in the last quarter. Morse Asset Management Inc acquired a new position in shares of Eaton in the third quarter worth $33,000. West Financial Advisors LLC purchased a new stake in shares of Eaton during the third quarter worth $35,000. DT Investment Partners LLC acquired a new stake in Eaton during the third quarter valued at $37,000. Finally, RPg Family Wealth Advisory LLC purchased a new position in Eaton in the third quarter valued at about $44,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Craig Arnold sold 61,569 shares of Eaton 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 sale, the insider now directly owns 506,360 shares in the company, valued at approximately $182,780,769.20. The trade was a 10.84 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gregory R. Page sold 4,000 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the completion of the transaction, the director now directly owns 51,422 shares of the company’s stock, valued at $17,241,796.60. This trade represents a 7.22 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 76,981 shares of company stock worth $27,660,117. Company insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

ETN has been the subject of a number of recent research reports. Evercore ISI downgraded Eaton from an “outperform” rating to an “inline” rating and raised their price target for the stock from $333.00 to $389.00 in a research note on Wednesday, November 13th. Royal Bank of Canada raised their price objective on shares of Eaton from $374.00 to $392.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. JPMorgan Chase & Co. decreased their target price on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research report on Wednesday. Bank of America raised their price target on shares of Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Jefferies Financial Group upped their price objective on shares of Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Eaton currently has a consensus rating of “Moderate Buy” and a consensus price target of $368.89.

Eaton Trading Up 0.4 %

Shares of Eaton stock opened at $346.54 on Friday. The company has a market cap of $136.95 billion, a price-to-earnings ratio of 36.87, a PEG ratio of 2.27 and a beta of 1.06. Eaton Co. plc has a 1 year low of $236.20 and a 1 year high of $379.99. The company’s fifty day simple moving average is $354.73 and its 200-day simple moving average is $329.53. 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 posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) 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 company had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.37 billion. During the same quarter in the previous year, the firm posted $2.47 EPS. The business’s revenue was up 7.9% compared to the same quarter last year. As a group, sell-side analysts expect that Eaton Co. plc will post 10.8 EPS for the current year.

Eaton Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 4th were issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 1.09%. The ex-dividend date was Monday, November 4th. Eaton’s payout ratio is presently 40.00%.

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.