Riverview Trust Co Raises Stock Position in Eaton Co. plc (NYSE:ETN)

Riverview Trust Co lifted its holdings in Eaton Co. plc (NYSE:ETN) by 11.1% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 613 shares of the industrial products company’s stock after acquiring an additional 61 shares during the quarter. Riverview Trust Co’s holdings in Eaton were worth $203,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Breakwater Investment Management lifted its holdings in shares of Eaton by 1,560.0% in the 2nd quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 78 shares during the last quarter. Proffitt & Goodson Inc. purchased a new stake in Eaton during the 2nd quarter valued at $29,000. LGT Financial Advisors LLC purchased a new stake in Eaton during the 2nd quarter valued at $33,000. Redmont Wealth Advisors LLC purchased a new stake in Eaton during the 1st quarter valued at $33,000. Finally, West Financial Advisors LLC purchased a new stake in Eaton during the 3rd quarter valued at $35,000. 82.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on ETN shares. Jefferies Financial Group upped their price objective on shares of Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Mizuho increased their price target on shares of Eaton from $355.00 to $365.00 and gave the stock an “outperform” rating in a research note on Thursday. Royal Bank of Canada decreased their price target on shares of Eaton from $376.00 to $371.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Morgan Stanley assumed coverage on shares of Eaton in a research note on Friday, September 6th. They issued an “overweight” rating and a $370.00 price target for the company. Finally, Barclays increased their price objective on shares of Eaton from $319.00 to $327.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $340.06.

Eaton Trading Down 0.1 %

Eaton stock opened at $348.17 on Friday. The stock has a market cap of $139.20 billion, a P/E ratio of 41.11, a PEG ratio of 2.58 and a beta of 1.02. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.56 and a quick ratio of 1.07. Eaton Co. plc has a 1 year low of $191.82 and a 1 year high of $349.74. The firm’s 50 day moving average price is $314.01 and its 200-day moving average price is $316.67.

Eaton (NYSE:ETN) last released its quarterly earnings data on Thursday, August 1st. The industrial products company reported $2.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.61 by $0.12. The firm had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.35 billion. Eaton had a net margin of 15.12% and a return on equity of 21.45%. On average, equities analysts predict that Eaton Co. plc will post 10.75 earnings per share for the current fiscal year.

Eaton Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend was Monday, August 5th. Eaton’s payout ratio is currently 44.39%.

Insider Buying and Selling

In other Eaton news, Director Dorothy C. Thompson purchased 2,205 shares of Eaton stock in a transaction that occurred on Tuesday, September 3rd. The shares were bought at an average price of $300.30 per share, for a total transaction of $662,161.50. Following the completion of the transaction, the director now owns 2,205 shares of the company’s stock, valued at approximately $662,161.50. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Karenann K. Terrell acquired 500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was purchased at an average cost of $298.97 per share, for a total transaction of $149,485.00. Following the completion of the acquisition, the director now directly owns 500 shares of the company’s stock, valued at $149,485. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Dorothy C. Thompson acquired 2,205 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average price of $300.30 per share, with a total value of $662,161.50. Following the completion of the acquisition, the director now directly owns 2,205 shares of the company’s stock, valued at $662,161.50. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 52,511 shares of company stock worth $15,809,326. Insiders own 0.53% of the company’s stock.

Eaton 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.