Cambridge Trust Co. Has $35.45 Million Stake in Eaton Co. plc (NYSE:ETN)

Cambridge Trust Co. decreased its position in Eaton Co. plc (NYSE:ETN) by 11.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 147,196 shares of the industrial products company’s stock after selling 18,450 shares during the period. Eaton comprises about 1.5% of Cambridge Trust Co.’s investment portfolio, making the stock its 18th biggest holding. Cambridge Trust Co.’s holdings in Eaton were worth $35,448,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Tennessee Valley Asset Management Partners acquired a new stake in shares of Eaton during the 4th quarter valued at $25,000. PCA Investment Advisory Services Inc. acquired a new stake in shares of Eaton during the 2nd quarter valued at $27,000. Valued Wealth Advisors LLC acquired a new stake in shares of Eaton during the 4th quarter valued at $35,000. Chilton Capital Management LLC acquired a new stake in shares of Eaton during the 4th quarter valued at $35,000. Finally, Global Trust Asset Management LLC acquired a new stake in shares of Eaton during the 3rd quarter valued at $32,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ETN. Wolfe Research reissued an “underperform” rating and set a $312.00 target price on shares of Eaton in a research note on Monday, April 8th. Bank of America raised their price target on shares of Eaton from $320.00 to $330.00 and gave the company a “buy” rating in a report on Monday, March 18th. UBS Group raised their price target on shares of Eaton from $255.00 to $305.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Royal Bank of Canada upgraded shares of Eaton from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $286.00 to $371.00 in a report on Friday, April 5th. Finally, Mizuho raised their price target on shares of Eaton from $300.00 to $340.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $295.60.

Insider Activity

In other news, insider Ernest W. Marshall, Jr. sold 19,750 shares of Eaton stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $273.17, for a total transaction of $5,395,107.50. Following the sale, the insider now directly owns 29,712 shares in the company, valued at approximately $8,116,427.04. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Eaton news, insider Peter Denk sold 1,731 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $288.97, for a total value of $500,207.07. Following the transaction, the insider now directly owns 5,514 shares in the company, valued at $1,593,380.58. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Ernest W. Marshall, Jr. sold 19,750 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $273.17, for a total transaction of $5,395,107.50. Following the completion of the transaction, the insider now owns 29,712 shares in the company, valued at $8,116,427.04. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,969 shares of company stock worth $10,904,774. Corporate insiders own 0.53% of the company’s stock.

Eaton Stock Performance

NYSE ETN traded up $0.05 during midday trading on Thursday, hitting $310.23. The company had a trading volume of 892,201 shares, compared to its average volume of 1,879,536. The company has a quick ratio of 1.02, a current ratio of 1.51 and a debt-to-equity ratio of 0.43. The stock has a market cap of $123.94 billion, a price-to-earnings ratio of 38.67, a P/E/G ratio of 2.61 and a beta of 1.07. The firm has a fifty day simple moving average of $299.48 and a two-hundred day simple moving average of $253.53. Eaton Co. plc has a fifty-two week low of $161.12 and a fifty-two week high of $331.47.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.08. The company had revenue of $5.97 billion for the quarter, compared to analyst estimates of $5.91 billion. Eaton had a net margin of 13.88% and a return on equity of 20.05%. The business’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period last year, the business posted $2.06 EPS. Equities analysts forecast that Eaton Co. plc will post 10.28 earnings per share for the current fiscal year.

Eaton Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 11th were given a dividend of $0.94 per share. This is a positive change from Eaton’s previous quarterly dividend of $0.86. This represents a $3.76 annualized dividend and a dividend yield of 1.21%. The ex-dividend date was Friday, March 8th. Eaton’s payout ratio is 46.88%.

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.