Eaton Co. plc (NYSE:ETN) Shares Purchased by Trust Co. of Virginia VA

Trust Co. of Virginia VA raised its stake in shares of Eaton Co. plc (NYSE:ETN) by 2.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,350 shares of the industrial products company’s stock after buying an additional 50 shares during the period. Trust Co. of Virginia VA’s holdings in Eaton were worth $735,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Trifecta Capital Advisors LLC increased its stake in Eaton by 18.3% during the 1st quarter. Trifecta Capital Advisors LLC now owns 12,814 shares of the industrial products company’s stock valued at $4,007,000 after buying an additional 1,986 shares during the period. Independence Bank of Kentucky increased its stake in Eaton by 18.2% during the 1st quarter. Independence Bank of Kentucky now owns 2,992 shares of the industrial products company’s stock valued at $936,000 after buying an additional 460 shares during the period. OneAscent Financial Services LLC increased its stake in Eaton by 2.2% during the 1st quarter. OneAscent Financial Services LLC now owns 2,891 shares of the industrial products company’s stock valued at $907,000 after buying an additional 62 shares during the period. Webster Bank N. A. boosted its position in shares of Eaton by 4.6% during the 1st quarter. Webster Bank N. A. now owns 12,442 shares of the industrial products company’s stock valued at $3,890,000 after purchasing an additional 549 shares in the last quarter. Finally, Harbour Capital Advisors LLC bought a new position in shares of Eaton during the 1st quarter valued at about $249,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Activity at Eaton

In related news, insider Peter Denk sold 2,416 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $331.84, for a total transaction of $801,725.44. Following the transaction, the insider now owns 5,086 shares of the company’s stock, valued at $1,687,738.24. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ETN. JPMorgan Chase & Co. raised their price objective on shares of Eaton from $279.00 to $325.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Bank of America raised 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. Mizuho restated a “buy” rating and set a $355.00 price objective (up previously from $340.00) on shares of Eaton in a research report on Wednesday, May 1st. Wolfe Research restated an “underperform” rating and set a $312.00 price objective on shares of Eaton in a research report on Monday, April 8th. Finally, Royal Bank of Canada upgraded shares of Eaton from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $286.00 to $371.00 in a report on Friday, April 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $318.06.

Eaton Stock Down 0.1 %

Shares of ETN stock traded down $0.39 during trading on Friday, hitting $313.55. 2,557,711 shares of the company were exchanged, compared to its average volume of 2,258,211. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.05 and a current ratio of 1.56. The firm has a market capitalization of $125.36 billion, a price-to-earnings ratio of 37.02, a P/E/G ratio of 2.63 and a beta of 1.04. The business’s 50-day simple moving average is $325.35 and its 200 day simple moving average is $292.34. Eaton Co. plc has a twelve month low of $191.82 and a twelve month high of $345.19.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $2.40 EPS for the quarter, topping the consensus estimate of $2.28 by $0.12. The business had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $5.91 billion. Eaton had a net margin of 14.38% and a return on equity of 20.69%. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period last year, the company posted $1.88 earnings per share. As a group, analysts forecast that Eaton Co. plc will post 10.56 EPS for the current fiscal year.

Eaton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Monday, May 6th were given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.20%. The ex-dividend date was Friday, May 3rd. Eaton’s payout ratio is presently 44.39%.

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.