Community Bank N.A. Grows Holdings in Eaton Corporation, PLC (NYSE:ETN)

Community Bank N.A. grew its stake in shares of Eaton Corporation, PLC (NYSE:ETN) by 4.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,605 shares of the industrial products company’s stock after purchasing an additional 75 shares during the quarter. Community Bank N.A.’s holdings in Eaton were worth $436,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Capital A Wealth Management LLC purchased a new stake in Eaton in the 4th quarter valued at about $26,000. Flagship Wealth Advisors LLC bought a new stake in shares of Eaton during the fourth quarter valued at approximately $27,000. Noble Wealth Management PBC bought a new stake in shares of Eaton during the fourth quarter valued at approximately $30,000. Murphy & Mullick Capital Management Corp bought a new position in Eaton in the fourth quarter worth approximately $33,000. Finally, Vermillion Wealth Management Inc. purchased a new position in Eaton during the 4th quarter worth $33,000. 82.97% of the stock is currently owned by institutional investors.

Insider Transactions at Eaton

In related news, insider Michael Yelton sold 2,120 shares of the company’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total value of $629,364.40. Following the transaction, the insider now directly owns 3,382 shares of the company’s stock, valued at $1,004,014.34. This represents a 38.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Craig Arnold sold 51,054 shares of Eaton stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $305.43, for a total value of $15,593,423.22. Following the sale, the insider now directly owns 489,444 shares of the company’s stock, valued at approximately $149,490,880.92. This represents a 9.45% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 156,660 shares of company stock worth $49,622,894. Insiders own 0.30% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. BNP Paribas Exane assumed coverage on Eaton in a report on Thursday, May 15th. They issued an “outperform” rating and a $380.00 target price for the company. Royal Bank Of Canada lifted their price objective on Eaton from $336.00 to $356.00 and gave the company an “outperform” rating in a report on Monday, May 5th. Citigroup increased their target price on shares of Eaton from $323.00 to $351.00 and gave the stock a “buy” rating in a report on Monday, May 5th. BNP Paribas started coverage on shares of Eaton in a research report on Thursday, May 15th. They set an “outperform” rating and a $380.00 target price on the stock. Finally, JPMorgan Chase & Co. upped their price target on shares of Eaton from $300.00 to $360.00 and gave the stock an “overweight” rating in a research report on Friday, May 16th. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $368.78.

Eaton Price Performance

Shares of ETN opened at $333.92 on Thursday. The company has a 50 day moving average of $308.45 and a two-hundred day moving average of $314.22. The company has a quick ratio of 0.84, a current ratio of 1.31 and a debt-to-equity ratio of 0.41. Eaton Corporation, PLC has a twelve month low of $231.85 and a twelve month high of $379.99. The company has a market cap of $130.66 billion, a price-to-earnings ratio of 33.70, a price-to-earnings-growth ratio of 2.56 and a beta of 1.16.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Friday, May 2nd. The industrial products company reported $2.72 EPS for the quarter, beating the consensus estimate of $2.70 by $0.02. Eaton had a return on equity of 23.41% and a net margin of 15.55%. The firm had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.26 billion. During the same quarter in the prior year, the business posted $2.40 EPS. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, analysts predict that Eaton Corporation, PLC will post 12.02 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were issued a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 1.25%. The ex-dividend date was Monday, May 5th. Eaton’s dividend payout ratio is presently 41.98%.

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.