New Covenant Trust Company N.A. Buys 193 Shares of Eaton Co. plc (NYSE:ETN)

New Covenant Trust Company N.A. raised its stake in shares of Eaton Co. plc (NYSE:ETN) by 21.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,113 shares of the industrial products company’s stock after acquiring an additional 193 shares during the quarter. New Covenant Trust Company N.A.’s holdings in Eaton were worth $366,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. IAM Advisory LLC acquired a new position in Eaton in the 2nd quarter valued at approximately $599,000. Envestnet Portfolio Solutions Inc. increased its position in shares of Eaton by 19.2% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 78,725 shares of the industrial products company’s stock valued at $24,616,000 after purchasing an additional 12,689 shares during the period. Interval Partners LP raised its stake in shares of Eaton by 82.7% in the second quarter. Interval Partners LP now owns 151,716 shares of the industrial products company’s stock valued at $47,571,000 after purchasing an additional 68,693 shares in the last quarter. Empowered Funds LLC lifted its position in Eaton by 302.4% in the first quarter. Empowered Funds LLC now owns 23,273 shares of the industrial products company’s stock worth $7,277,000 after purchasing an additional 17,490 shares during the period. Finally, Avantax Advisory Services Inc. increased its holdings in Eaton by 40.6% in the 1st quarter. Avantax Advisory Services Inc. now owns 19,513 shares of the industrial products company’s stock valued at $6,101,000 after buying an additional 5,634 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Citigroup initiated coverage on shares of Eaton in a report on Monday, September 16th. They set a “buy” rating and a $348.00 price objective for the company. Royal Bank of Canada restated an “outperform” rating and set a $374.00 price target on shares of Eaton in a research note on Friday. Evercore ISI lowered their price objective on Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th. Barclays cut their target price on Eaton from $327.00 to $320.00 and set an “equal weight” rating for the company in a research report on Friday. Finally, Wolfe Research upgraded Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 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 company presently has a consensus rating of “Moderate Buy” and an average target price of $341.00.

Insider Activity

In related news, insider Taras G. Jr. Szmagala sold 335 shares of Eaton stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $288.72, for a total value of $96,721.20. Following the completion of the sale, the insider now directly owns 9,900 shares in the company, valued at $2,858,328. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Eaton news, insider Taras G. Jr. Szmagala sold 335 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $288.72, for a total value of $96,721.20. Following the transaction, the insider now directly owns 9,900 shares of the company’s stock, valued at approximately $2,858,328. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dorothy C. Thompson bought 2,205 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were acquired at an average price of $300.30 per share, with a total value of $662,161.50. Following the transaction, the director now directly owns 2,205 shares in the company, valued at approximately $662,161.50. The disclosure for this purchase can be found here. Insiders have sold 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 Up 1.0 %

Shares of NYSE ETN opened at $335.00 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. The company has a market cap of $133.36 billion, a price-to-earnings ratio of 35.64, a price-to-earnings-growth ratio of 2.53 and a beta of 1.01. Eaton Co. plc has a 12-month low of $211.99 and a 12-month high of $349.74. The firm’s 50-day simple moving average is $323.09 and its 200 day simple moving average is $318.31.

Eaton (NYSE:ETN) last released 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 for the quarter, compared to analysts’ expectations of $6.37 billion. During the same period in the prior year, the firm earned $2.47 earnings per share. Eaton’s revenue was up 7.9% compared to the same quarter last year. On average, research analysts expect that Eaton Co. plc will post 10.75 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Monday, November 4th will be given a dividend of $0.94 per share. 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 1.12%. Eaton’s payout ratio is currently 40.00%.

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.