Field & Main Bank Sells 85 Shares of Eaton Co. plc (NYSE:ETN)

Field & Main Bank trimmed its stake in shares of Eaton Co. plc (NYSE:ETN) by 0.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,230 shares of the industrial products company’s stock after selling 85 shares during the quarter. Eaton comprises approximately 1.0% of Field & Main Bank’s investment portfolio, making the stock its 27th biggest position. Field & Main Bank’s holdings in Eaton were worth $2,464,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Ritholtz Wealth Management raised its stake in Eaton by 5.1% during the fourth quarter. Ritholtz Wealth Management now owns 5,724 shares of the industrial products company’s stock worth $1,379,000 after acquiring an additional 277 shares in the last quarter. Pacer Advisors Inc. increased its holdings in Eaton by 30.5% in the 4th quarter. Pacer Advisors Inc. now owns 34,071 shares of the industrial products company’s stock worth $8,205,000 after purchasing an additional 7,964 shares in the last quarter. Chicago Capital LLC bought a new position in Eaton in the fourth quarter valued at about $2,958,000. Neo Ivy Capital Management acquired a new stake in shares of Eaton during the third quarter valued at about $479,000. Finally, Patriot Financial Group Insurance Agency LLC grew its holdings in shares of Eaton by 13.6% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 1,458 shares of the industrial products company’s stock worth $351,000 after purchasing an additional 174 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Bank of America increased their price objective on Eaton from $320.00 to $330.00 and gave the company a “buy” rating in a report on Monday, March 18th. Berenberg Bank increased their target price on shares of Eaton from $200.00 to $345.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. UBS Group upped their price objective on shares of Eaton from $255.00 to $305.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. The Goldman Sachs Group boosted their target price on shares of Eaton from $287.00 to $328.00 and gave the company a “buy” rating in a report on Friday, March 15th. Finally, Evercore ISI lifted their price objective on Eaton from $262.00 to $308.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 20th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $295.60.

Insider Activity

In other Eaton news, insider Heath B. Monesmith sold 13,027 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $291.40, for a total transaction of $3,796,067.80. Following the transaction, the insider now directly owns 69,472 shares of the company’s stock, valued at approximately $20,244,140.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Eaton news, insider Ernest W. Marshall, Jr. sold 19,750 shares of Eaton stock in a transaction on Wednesday, February 7th. The stock was 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Heath B. Monesmith sold 13,027 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $291.40, for a total transaction of $3,796,067.80. Following the completion of the transaction, the insider now owns 69,472 shares in the company, valued at approximately $20,244,140.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,969 shares of company stock valued at $10,904,774. Company insiders own 0.33% of the company’s stock.

Eaton Stock Performance

Shares of NYSE ETN traded up $2.54 during mid-day trading on Monday, hitting $326.84. The company had a trading volume of 3,151,497 shares, compared to its average volume of 1,971,578. The stock’s 50-day moving average price is $305.81 and its 200-day moving average price is $259.67. The company has a market capitalization of $130.57 billion, a price-to-earnings ratio of 40.75, a P/E/G ratio of 2.69 and a beta of 1.07. Eaton Co. plc has a 1 year low of $165.24 and a 1 year high of $331.47. The company has a current ratio of 1.51, a quick ratio of 1.02 and a debt-to-equity ratio of 0.43.

Eaton (NYSE:ETN) last issued 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. Eaton had a return on equity of 20.05% and a net margin of 13.88%. The firm had revenue of $5.97 billion during the quarter, compared to analyst estimates of $5.91 billion. During the same quarter in the previous year, the company posted $2.06 earnings per share. The company’s revenue was up 10.8% compared to the same quarter last year. On average, sell-side analysts forecast that Eaton Co. plc will post 10.28 earnings per share for the current year.

Eaton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, May 6th will be given a $0.94 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.15%. Eaton’s dividend payout ratio is currently 46.88%.

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.