Community Financial Services Group LLC Has $8.26 Million Stock Holdings in Eaton Co. plc (NYSE:ETN)

Community Financial Services Group LLC lifted its holdings in shares of Eaton Co. plc (NYSE:ETN) by 2.0% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 24,931 shares of the industrial products company’s stock after buying an additional 480 shares during the period. Eaton comprises about 1.7% of Community Financial Services Group LLC’s portfolio, making the stock its 15th biggest holding. Community Financial Services Group LLC’s holdings in Eaton were worth $8,263,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of ETN. Breakwater Investment Management increased its holdings in Eaton by 1,560.0% in the second quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 78 shares during the period. Proffitt & Goodson Inc. bought a new position in Eaton during the 2nd quarter worth approximately $29,000. Redmont Wealth Advisors LLC bought a new stake in shares of Eaton in the 1st quarter valued at $33,000. LGT Financial Advisors LLC acquired a new stake in shares of Eaton during the second quarter worth $33,000. Finally, West Financial Advisors LLC acquired a new position in Eaton in the third quarter valued at $35,000. 82.97% of the stock is currently owned by institutional investors.

Eaton Price Performance

Shares of NYSE ETN traded down $1.11 during trading on Monday, hitting $347.07. The company had a trading volume of 1,054,189 shares, compared to its average volume of 2,109,666. The firm has a market capitalization of $138.76 billion, a price-to-earnings ratio of 41.11, a price-to-earnings-growth ratio of 2.58 and a beta of 1.02. Eaton Co. plc has a fifty-two week low of $193.26 and a fifty-two week high of $349.74. The stock has a fifty day simple moving average of $314.01 and a two-hundred day simple moving average of $316.65. The company has a quick ratio of 1.07, a current ratio of 1.56 and a debt-to-equity ratio of 0.44.

Eaton (NYSE:ETN) last issued its earnings results 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 company had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.35 billion. Eaton had a return on equity of 21.45% and a net margin of 15.12%. On average, research analysts expect that Eaton Co. plc will post 10.75 earnings per share for the current year.

Eaton Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were paid a $0.94 dividend. 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 dividend payout ratio (DPR) is presently 44.39%.

Insider Transactions at Eaton

In related news, Director Dorothy C. Thompson bought 2,205 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were bought at an average price of $300.30 per share, with a total value of $662,161.50. Following the completion of the transaction, the director now directly owns 2,205 shares of the company’s stock, valued at $662,161.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Dorothy C. Thompson purchased 2,205 shares of Eaton stock in a transaction dated Tuesday, September 3rd. The shares were acquired at an average cost of $300.30 per share, with a total value of $662,161.50. Following the purchase, the director now owns 2,205 shares of the company’s stock, valued at approximately $662,161.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Heath B. Monesmith sold 49,040 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $301.02, for a total transaction of $14,762,020.80. Following the transaction, the insider now directly owns 71,262 shares of the company’s stock, valued at $21,451,287.24. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,511 shares of company stock worth $15,809,326. 0.53% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Mizuho increased their target price on shares of Eaton from $355.00 to $365.00 and gave the stock an “outperform” rating in a research note on Thursday. Wells Fargo & Company boosted their price target on shares of Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Jefferies Financial Group lifted their price objective on shares of Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Barclays upped their target price on shares of Eaton from $319.00 to $327.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 2nd. Finally, Raymond James cut their price target on Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a research note on Monday, September 9th. Four 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, Eaton has an average rating of “Moderate Buy” and a consensus price target of $340.06.

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.