Trust Co. of Toledo NA OH decreased its holdings in Eaton Co. plc (NYSE:ETN) by 7.2% in the 1st quarter, HoldingsChannel reports. The firm owned 16,148 shares of the industrial products company’s stock after selling 1,255 shares during the quarter. Trust Co. of Toledo NA OH’s holdings in Eaton were worth $2,233,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. Oppenheimer & Co. Inc. grew its stake in shares of Eaton by 8.5% in the fourth quarter. Oppenheimer & Co. Inc. now owns 49,239 shares of the industrial products company’s stock worth $5,916,000 after purchasing an additional 3,869 shares in the last quarter. San Francisco Sentry Investment Group CA lifted its holdings in shares of Eaton by 15.8% in the fourth quarter. San Francisco Sentry Investment Group CA now owns 1,394 shares of the industrial products company’s stock valued at $167,000 after buying an additional 190 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Eaton by 405.2% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 92,200 shares of the industrial products company’s stock valued at $11,077,000 after buying an additional 73,950 shares during the period. Nisa Investment Advisors LLC lifted its holdings in shares of Eaton by 1.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 133,865 shares of the industrial products company’s stock valued at $16,083,000 after buying an additional 1,366 shares during the period. Finally, Creative Planning lifted its holdings in shares of Eaton by 26.5% in the fourth quarter. Creative Planning now owns 56,089 shares of the industrial products company’s stock valued at $6,739,000 after buying an additional 11,742 shares during the period. 77.88% of the stock is owned by institutional investors.
ETN stock traded down $0.29 during mid-day trading on Thursday, hitting $140.09. The stock had a trading volume of 24,394 shares, compared to its average volume of 2,427,837. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 0.48. Eaton Co. plc has a 1-year low of $70.54 and a 1-year high of $143.29. The company has a fifty day moving average of $135.27 and a 200 day moving average of $120.14. The stock has a market capitalization of $55.81 billion, a price-to-earnings ratio of 41.29, a PEG ratio of 2.34 and a beta of 1.12.
Eaton (NYSE:ETN) last issued its quarterly earnings data on Monday, February 1st. The industrial products company reported $1.28 EPS for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.08. The business had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.62 billion. Eaton had a return on equity of 11.94% and a net margin of 7.53%. The firm’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.37 EPS. As a group, sell-side analysts expect that Eaton Co. plc will post 4.17 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 30th. Stockholders of record on Tuesday, March 16th were issued a dividend of $0.76 per share. This is a positive change from Eaton’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend was Monday, March 15th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 2.17%. Eaton’s dividend payout ratio is currently 53.62%.
In related news, insider Brian S. Brickhouse sold 22,758 shares of the stock in a transaction that occurred on Wednesday, March 3rd. The stock was sold at an average price of $135.80, for a total transaction of $3,090,536.40. Following the completion of the sale, the insider now owns 15,587 shares in the company, valued at approximately $2,116,714.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Uday Yadav sold 11,769 shares of the stock in a transaction that occurred on Thursday, February 25th. The shares were sold at an average price of $132.17, for a total value of $1,555,508.73. Following the sale, the insider now owns 22,436 shares of the company’s stock, valued at approximately $2,965,366.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,740 shares of company stock valued at $4,945,066. 0.54% of the stock is owned by corporate insiders.
Several analysts have recently weighed in on ETN shares. Berenberg Bank upgraded Eaton from a “hold” rating to a “buy” rating and set a $160.00 price objective for the company in a report on Monday, March 15th. Jefferies Financial Group upped their price objective on Eaton from $130.00 to $150.00 and gave the company a “buy” rating in a report on Friday, January 15th. Robert W. Baird upped their price objective on Eaton from $120.00 to $140.00 and gave the company a “neutral” rating in a report on Tuesday, March 2nd. Credit Suisse Group upped their target price on Eaton from $130.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, February 3rd. Finally, Morgan Stanley raised Eaton from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $130.00 to $155.00 in a report on Tuesday, March 9th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the company. Eaton has an average rating of “Buy” and an average target price of $132.89.
Eaton Corporation plc operates as a power management company. Its Electrical Americas and Electrical Global segment provides electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality products, wiring devices, circuit protection products, utility power distribution products, power reliability equipment, and services in North and South America, as well as hazardous duty electrical, emergency lighting, fire detection, explosion-proof instrumentation, and structural support systems internationally.
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