Eaton Co. plc (NYSE:ETN) Shares Purchased by CNB Bank

CNB Bank grew its position in Eaton Co. plc (NYSE:ETN) by 8.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,038 shares of the industrial products company’s stock after acquiring an additional 313 shares during the period. CNB Bank’s holdings in Eaton were worth $1,340,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Saxon Interests Inc. raised its stake in shares of Eaton by 8.3% during the 4th quarter. Saxon Interests Inc. now owns 5,623 shares of the industrial products company’s stock worth $1,866,000 after buying an additional 429 shares in the last quarter. Wealthcare Advisory Partners LLC grew its holdings in Eaton by 8.6% during the fourth quarter. Wealthcare Advisory Partners LLC now owns 5,661 shares of the industrial products company’s stock worth $1,879,000 after acquiring an additional 446 shares during the period. Procyon Advisors LLC lifted its holdings in Eaton by 1.5% in the fourth quarter. Procyon Advisors LLC now owns 4,884 shares of the industrial products company’s stock valued at $1,621,000 after acquiring an additional 70 shares during the period. RDA Financial Network purchased a new stake in shares of Eaton during the 4th quarter worth $404,000. Finally, Goldstone Financial Group LLC grew its holdings in shares of Eaton by 36.8% in the 4th quarter. Goldstone Financial Group LLC now owns 1,406 shares of the industrial products company’s stock worth $467,000 after acquiring an additional 378 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on ETN. Royal Bank of Canada boosted their target price on Eaton from $374.00 to $392.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Barclays increased their target price on Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Jefferies Financial Group upped their price objective on Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. cut their target price on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, Bank of America raised their price target on shares of Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $368.89.

Insider Buying and Selling at Eaton

In related news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $378.58, for a total transaction of $534,554.96. Following the transaction, the insider now directly owns 31,200 shares of the company’s stock, valued at approximately $11,811,696. The trade was a 4.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Craig Arnold sold 61,569 shares of Eaton stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total value of $22,224,561.93. Following the sale, the insider now directly owns 506,360 shares of the company’s stock, valued at approximately $182,780,769.20. The trade was a 10.84 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 76,981 shares of company stock valued at $27,660,117. 0.33% of the stock is currently owned by corporate insiders.

Eaton Stock Up 0.8 %

ETN opened at $347.87 on Friday. The stock’s fifty day moving average is $355.04 and its 200-day moving average is $329.43. Eaton Co. plc has a one year low of $236.20 and a one year high of $379.99. The company has a market capitalization of $137.48 billion, a PE ratio of 37.02, a P/E/G ratio of 2.27 and a beta of 1.06. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53.

Eaton (NYSE:ETN) last issued its earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. The firm had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period last year, the firm posted $2.47 earnings per share. On average, equities analysts predict that Eaton Co. plc will post 10.8 EPS for the current fiscal year.

Eaton Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 4th were issued a dividend of $0.94 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $3.76 annualized dividend and a yield of 1.08%. Eaton’s payout ratio is presently 40.00%.

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.