CENTRAL TRUST Co Reduces Stake in Eaton Co. plc (NYSE:ETN)

CENTRAL TRUST Co lessened its stake in shares of Eaton Co. plc (NYSE:ETN) by 6.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,708 shares of the industrial products company’s stock after selling 1,064 shares during the quarter. CENTRAL TRUST Co’s holdings in Eaton were worth $5,206,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Beese Fulmer Investment Management Inc. increased its holdings in Eaton by 5.3% during the 3rd quarter. Beese Fulmer Investment Management Inc. now owns 39,961 shares of the industrial products company’s stock worth $13,245,000 after acquiring an additional 2,018 shares during the period. Hennion & Walsh Asset Management Inc. grew its position in shares of Eaton by 11.0% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 3,351 shares of the industrial products company’s stock valued at $1,111,000 after purchasing an additional 332 shares in the last quarter. Romano Brothers AND Company increased its holdings in shares of Eaton by 2.6% in the third quarter. Romano Brothers AND Company now owns 16,380 shares of the industrial products company’s stock worth $5,429,000 after purchasing an additional 422 shares during the period. YHB Investment Advisors Inc. raised its position in shares of Eaton by 18.8% in the third quarter. YHB Investment Advisors Inc. now owns 14,859 shares of the industrial products company’s stock worth $4,925,000 after buying an additional 2,351 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its stake in Eaton by 27,075.5% during the third 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 buying an additional 1,070,024 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Eaton Trading Up 0.4 %

NYSE:ETN opened at $345.00 on Thursday. The firm has a market capitalization of $137.93 billion, a P/E ratio of 40.73, a P/E/G ratio of 2.58 and a beta of 1.02. Eaton Co. plc has a 52 week low of $193.77 and a 52 week high of $349.74. The company has a quick ratio of 1.07, a current ratio of 1.56 and a debt-to-equity ratio of 0.44. The company has a fifty day moving average of $317.08 and a 200 day moving average of $317.12.

Eaton (NYSE:ETN) last posted its earnings results on Thursday, August 1st. The industrial products company reported $2.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.61 by $0.12. Eaton had a return on equity of 21.45% and a net margin of 15.12%. The firm had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.35 billion. On average, research analysts predict that Eaton Co. plc will post 10.75 earnings per share for the current year.

Eaton Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Monday, November 4th will be paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date is Monday, November 4th. Eaton’s payout ratio is 44.39%.

Insider Buying and Selling

In other news, Director Dorothy C. Thompson bought 2,205 shares of Eaton stock in a transaction on Tuesday, September 3rd. The shares were purchased at an average price of $300.30 per share, for a total transaction of $662,161.50. Following the acquisition, the director now owns 2,205 shares of the company’s stock, valued at approximately $662,161.50. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Dorothy C. Thompson purchased 2,205 shares of Eaton stock in a transaction that occurred on Tuesday, September 3rd. The shares were bought at an average cost of $300.30 per share, with a total value of $662,161.50. Following the completion of the purchase, the director now directly owns 2,205 shares in the company, valued at approximately $662,161.50. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Michael Yelton sold 3,136 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 3,914 shares of the company’s stock, valued at $1,186,411.68. This 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 three months. Corporate insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on ETN shares. Raymond James lowered their price target on Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a report on Monday, September 9th. Evercore ISI lowered their target price on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th. Wells Fargo & Company boosted their price target on shares of Eaton from $315.00 to $342.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Citigroup began coverage on shares of Eaton in a research report on Monday, September 16th. They set a “buy” rating and a $348.00 price objective on the stock. Finally, Barclays increased their target price on Eaton from $319.00 to $327.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 2nd. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $340.06.

Eaton Company 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.