Eaton Co. plc (NYSE:ETN) Shares Sold by OLD Second National Bank of Aurora

OLD Second National Bank of Aurora trimmed its stake in shares of Eaton Co. plc (NYSE:ETN) by 0.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,903 shares of the industrial products company’s stock after selling 79 shares during the quarter. Eaton makes up 1.1% of OLD Second National Bank of Aurora’s portfolio, making the stock its 25th biggest position. OLD Second National Bank of Aurora’s holdings in Eaton were worth $4,608,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Breakwater Investment Management increased its holdings in shares of Eaton by 1,560.0% in the 2nd quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 78 shares during the last quarter. Proffitt & Goodson Inc. acquired a new position in Eaton in the second quarter worth $29,000. LGT Financial Advisors LLC bought a new stake in Eaton during the second quarter valued at $33,000. West Financial Advisors LLC bought a new position in shares of Eaton in the 3rd quarter worth about $35,000. Finally, DT Investment Partners LLC acquired a new position in shares of Eaton in the 3rd quarter valued at about $37,000. Institutional investors own 82.97% of the company’s stock.

Eaton Stock Performance

Shares of NYSE ETN opened at $369.05 on Wednesday. Eaton Co. plc has a 52-week low of $220.24 and a 52-week high of $373.49. The stock has a market capitalization of $145.85 billion, a price-to-earnings ratio of 39.26, a PEG ratio of 2.98 and a beta of 1.01. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. The stock’s fifty day simple moving average is $331.19 and its 200 day simple moving average is $320.50.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, beating 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 business had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.37 billion. During the same quarter in the prior year, the firm earned $2.47 EPS. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. As a group, sell-side analysts forecast that Eaton Co. plc will post 10.79 earnings per share for the current fiscal year.

Eaton Dividend Announcement

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 $0.94 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.02%. Eaton’s dividend payout ratio is 40.00%.

Insider Buying and Selling

In other Eaton news, insider Michael Yelton sold 3,136 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $303.12, for a total value of $950,584.32. Following the completion of the sale, the insider now owns 3,914 shares in the company, valued at $1,186,411.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Heath B. Monesmith sold 49,040 shares of Eaton 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 trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael Yelton sold 3,136 shares of the company’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $303.12, for a total value of $950,584.32. Following the sale, the insider now owns 3,914 shares of the company’s stock, valued at approximately $1,186,411.68. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 117,745 shares of company stock worth $39,278,367. 0.33% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

ETN has been the topic of a number of recent research reports. Morgan Stanley initiated coverage on shares of Eaton in a report on Friday, September 6th. They issued an “overweight” rating and a $370.00 target price on the stock. Barclays lowered their price target on shares of Eaton from $327.00 to $320.00 and set an “equal weight” rating for the company in a research report on Friday, November 1st. Mizuho lifted their price objective on shares of Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Raymond James decreased their target price on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a research report on Monday, September 9th. Finally, Sanford C. Bernstein began coverage on Eaton in a report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Eaton presently has a consensus rating of “Moderate Buy” and a consensus price target of $346.39.

About Eaton

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.