Trust Co. of Vermont Sells 775 Shares of Eaton Co. plc (NYSE:ETN)

Trust Co. of Vermont trimmed its holdings in shares of Eaton Co. plc (NYSE:ETN) by 1.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,735 shares of the industrial products company’s stock after selling 775 shares during the quarter. Trust Co. of Vermont’s holdings in Eaton were worth $14,514,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of ETN. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Eaton by 253.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,273,685 shares of the industrial products company’s stock worth $753,590,000 after acquiring an additional 1,629,856 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of Eaton by 27,075.5% during the 3rd quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company’s stock valued at $355,959,000 after purchasing an additional 1,070,024 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of Eaton by 32.8% during the 3rd quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company’s stock valued at $801,798,000 after buying an additional 597,700 shares in the last quarter. Electron Capital Partners LLC boosted its stake in Eaton by 8,348.9% in the second quarter. Electron Capital Partners LLC now owns 446,524 shares of the industrial products company’s stock worth $140,008,000 after buying an additional 441,239 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. purchased a new position in shares of Eaton during the third quarter worth approximately $137,794,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Stock Up 0.4 %

Shares of Eaton stock traded up $1.35 during trading on Friday, hitting $346.54. The company’s stock had a trading volume of 2,454,294 shares, compared to its average volume of 1,724,943. Eaton Co. plc has a 52 week low of $236.20 and a 52 week high of $379.99. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53. The company has a fifty day simple moving average of $354.73 and a two-hundred day simple moving average of $329.53. The company has a market capitalization of $136.95 billion, a PE ratio of 36.87, a P/E/G ratio of 2.27 and a beta of 1.06.

Eaton (NYSE:ETN) last released its earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.80 by $0.04. The firm had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The business’s revenue was up 7.9% on a year-over-year basis. During the same period last year, the business earned $2.47 earnings per share. Equities research analysts predict that Eaton Co. plc will post 10.8 earnings per share for the current year.

Eaton Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 4th were paid a $0.94 dividend. The ex-dividend date was Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.09%. Eaton’s dividend payout ratio is currently 40.00%.

Analyst Upgrades and Downgrades

Several research firms recently commented on ETN. Bank of America increased their target price on shares of Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Wells Fargo & Company lowered their target price on Eaton from $365.00 to $350.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Royal Bank of Canada lifted their price target on Eaton from $374.00 to $392.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Sanford C. Bernstein assumed coverage on Eaton in a research note on Tuesday, November 5th. They set an “outperform” rating and a $382.00 price objective for the company. Finally, Jefferies Financial Group upped their price target on shares of Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a report on Friday, December 6th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $368.89.

Insider Activity

In related news, Director Gregory R. Page sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $335.30, for a total value of $1,341,200.00. Following the completion of the transaction, the director now directly owns 51,422 shares in the company, valued at $17,241,796.60. The trade was a 7.22 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $378.58, for a total value of $534,554.96. Following the sale, the insider now owns 31,200 shares in the company, valued at approximately $11,811,696. This represents a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 76,981 shares of company stock worth $27,660,117 over the last three months. 0.33% of the stock is currently owned by corporate insiders.

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.