Eaton Co. plc (NYSE:ETN) Shares Sold by Ledyard National Bank

Ledyard National Bank trimmed its holdings in Eaton Co. plc (NYSE:ETN) by 8.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 33,973 shares of the industrial products company’s stock after selling 3,076 shares during the period. Ledyard National Bank’s holdings in Eaton were worth $11,260,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in ETN. Strategic Wealth Partners Ltd. boosted its stake in shares of Eaton by 3.0% during the 3rd quarter. Strategic Wealth Partners Ltd. now owns 1,027 shares of the industrial products company’s stock worth $340,000 after purchasing an additional 30 shares during the last quarter. Legacy Capital Group California Inc. boosted its stake in shares of Eaton by 1.2% during the 2nd quarter. Legacy Capital Group California Inc. now owns 2,776 shares of the industrial products company’s stock worth $870,000 after purchasing an additional 32 shares during the last quarter. Well Done LLC boosted its stake in shares of Eaton by 1.3% during the 2nd quarter. Well Done LLC now owns 2,551 shares of the industrial products company’s stock worth $800,000 after purchasing an additional 33 shares during the last quarter. J.W. Cole Advisors Inc. boosted its stake in shares of Eaton by 1.7% during the 2nd quarter. J.W. Cole Advisors Inc. now owns 2,053 shares of the industrial products company’s stock worth $644,000 after purchasing an additional 35 shares during the last quarter. Finally, Front Row Advisors LLC boosted its stake in shares of Eaton by 0.4% during the 2nd quarter. Front Row Advisors LLC now owns 7,842 shares of the industrial products company’s stock worth $2,459,000 after purchasing an additional 35 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Heath B. Monesmith sold 49,040 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $301.02, for a total transaction of $14,762,020.80. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Heath B. Monesmith sold 49,040 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $301.02, for a total transaction of $14,762,020.80. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Michael Yelton sold 3,136 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $303.12, for a total transaction of $950,584.32. Following the transaction, the insider now directly 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. Insiders sold a total of 52,511 shares of company stock valued at $15,809,326 over the last 90 days. 0.53% of the stock is owned by company insiders.

Eaton Stock Down 0.4 %

Shares of NYSE:ETN opened at $346.91 on Tuesday. The company has a current ratio of 1.56, a quick ratio of 1.07 and a debt-to-equity ratio of 0.44. The company has a fifty day simple moving average of $315.18 and a 200 day simple moving average of $316.83. The firm has a market cap of $138.69 billion, a PE ratio of 40.96, a price-to-earnings-growth ratio of 2.58 and a beta of 1.02. Eaton Co. plc has a 12-month low of $193.26 and a 12-month high of $349.74.

Eaton (NYSE:ETN) last released its quarterly earnings data on Thursday, August 1st. The industrial products company reported $2.73 EPS for the quarter, topping analysts’ consensus estimates of $2.61 by $0.12. The firm had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.35 billion. Eaton had a net margin of 15.12% and a return on equity of 21.45%. On average, equities research analysts anticipate that Eaton Co. plc will post 10.75 EPS for the current fiscal year.

Eaton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date was Monday, August 5th. Eaton’s dividend payout ratio is presently 44.39%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company raised their target price on shares of Eaton from $315.00 to $342.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Morgan Stanley assumed coverage on shares of Eaton in a research report on Friday, September 6th. They issued an “overweight” rating and a $370.00 target price on the stock. Evercore ISI decreased their target price on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a research report on Monday, August 19th. Mizuho raised their target price on shares of Eaton from $355.00 to $365.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Finally, Raymond James decreased their target price on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research report on Monday, September 9th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $340.06.

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.