Fiduciary Trust Co Boosts Stake in Eaton Co. plc (NYSE:ETN)

Fiduciary Trust Co raised its position in Eaton Co. plc (NYSE:ETNFree Report) by 0.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,366 shares of the industrial products company’s stock after buying an additional 103 shares during the period. Fiduciary Trust Co’s holdings in Eaton were worth $3,941,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Tennessee Valley Asset Management Partners bought a new position in Eaton in the 4th quarter worth approximately $25,000. Valued Wealth Advisors LLC bought a new stake in shares of Eaton during the 4th quarter worth $35,000. Chilton Capital Management LLC bought a new stake in shares of Eaton during the 4th quarter worth $35,000. Frazier Financial Advisors LLC bought a new stake in shares of Eaton during the 4th quarter worth $41,000. Finally, Fortitude Family Office LLC purchased a new position in Eaton in the 4th quarter worth $46,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Stock Down 1.3 %

NYSE:ETN traded down $4.47 during mid-day trading on Wednesday, hitting $332.89. 1,101,386 shares of the company’s stock were exchanged, compared to its average volume of 1,966,512. The business has a fifty day moving average price of $321.84 and a 200 day moving average price of $277.87. The company has a market cap of $133.09 billion, a PE ratio of 39.55, a P/E/G ratio of 2.85 and a beta of 1.06. Eaton Co. plc has a one year low of $175.29 and a one year high of $345.19. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.56 and a quick ratio of 1.05.

Eaton (NYSE:ETNGet Free Report) last issued its earnings results on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.28 by $0.12. The firm had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $5.91 billion. Eaton had a net margin of 14.38% and a return on equity of 20.69%. The business’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.88 earnings per share. Equities analysts predict that Eaton Co. plc will post 10.56 EPS for the current year.

Eaton Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Monday, May 6th were issued a dividend of $0.94 per share. The ex-dividend date was Friday, May 3rd. This represents a $3.76 annualized dividend and a dividend yield of 1.13%. Eaton’s payout ratio is 44.39%.

Analysts Set New Price Targets

A number of research firms have issued reports on ETN. Evercore ISI boosted their price objective on shares of Eaton from $262.00 to $308.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. UBS Group boosted their price objective on shares of Eaton from $255.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Bank of America boosted their price objective on shares of Eaton from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Barclays upgraded shares of Eaton from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $250.00 to $300.00 in a research report on Tuesday, April 2nd. Finally, Argus boosted their price objective on shares of Eaton from $290.00 to $350.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Eaton presently has an average rating of “Moderate Buy” and an average target price of $314.27.

View Our Latest Stock Analysis on Eaton

Insider Activity

In other Eaton news, insider Heath B. Monesmith sold 13,027 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $291.40, for a total transaction of $3,796,067.80. Following the completion of the sale, the insider now directly owns 69,472 shares of the company’s stock, valued at $20,244,140.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Peter Denk sold 1,731 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $288.97, for a total value of $500,207.07. Following the completion of the sale, the insider now directly owns 5,514 shares of the company’s stock, valued at $1,593,380.58. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Heath B. Monesmith sold 13,027 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $291.40, for a total transaction of $3,796,067.80. Following the completion of the sale, the insider now directly owns 69,472 shares of the company’s stock, valued at $20,244,140.80. The disclosure for this sale can be found here. Insiders sold 17,174 shares of company stock valued at $5,098,000 over the last three months. Insiders own 0.33% of the company’s stock.

Eaton Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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