Dorsey & Whitney Trust CO LLC Decreases Holdings in Eaton Co. plc (NYSE:ETN)

Dorsey & Whitney Trust CO LLC lessened its stake in shares of Eaton Co. plc (NYSE:ETN) by 9.8% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 3,916 shares of the industrial products company’s stock after selling 424 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in Eaton were worth $1,228,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of ETN. Gryphon Financial Partners LLC increased its stake in shares of Eaton by 81.3% in the fourth quarter. Gryphon Financial Partners LLC now owns 2,348 shares of the industrial products company’s stock worth $565,000 after purchasing an additional 1,053 shares in the last quarter. Avantax Advisory Services Inc. increased its stake in shares of Eaton by 23.4% in the fourth quarter. Avantax Advisory Services Inc. now owns 13,879 shares of the industrial products company’s stock worth $3,342,000 after purchasing an additional 2,631 shares in the last quarter. Advisor OS LLC purchased a new position in shares of Eaton in the fourth quarter worth about $233,000. Quotient Wealth Partners LLC purchased a new position in shares of Eaton in the fourth quarter worth about $316,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Eaton by 8.2% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 397,350 shares of the industrial products company’s stock worth $92,622,000 after purchasing an additional 29,962 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Trading Down 0.4 %

Shares of ETN opened at $288.30 on Wednesday. The firm has a market cap of $115.26 billion, a price-to-earnings ratio of 34.04, a PEG ratio of 2.19 and a beta of 1.01. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.07 and a current ratio of 1.56. Eaton Co. plc has a fifty-two week low of $191.82 and a fifty-two week high of $345.19. The firm has a 50 day moving average price of $301.53 and a 200-day moving average price of $311.47.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Thursday, August 1st. The industrial products company reported $2.73 earnings per share for the quarter, topping analysts’ consensus estimates of $2.61 by $0.12. The firm had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.35 billion. Eaton had a net margin of 15.12% and a return on equity of 21.45%. As a group, equities research analysts forecast that Eaton Co. plc will post 10.74 earnings per share for the current year.

Eaton Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were issued a $0.94 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.30%. Eaton’s payout ratio is 44.39%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Barclays lifted their target price on shares of Eaton from $318.00 to $319.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Wolfe Research raised shares of Eaton from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Wells Fargo & Company reduced their price objective on shares of Eaton from $320.00 to $315.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. Raymond James reduced their price objective on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a research note on Monday. Finally, Jefferies Financial Group boosted their price objective on shares of Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $335.18.

Insider Transactions at Eaton

In related news, insider Taras G. Jr. Szmagala sold 335 shares of Eaton stock in a transaction on Monday, August 12th. The shares were sold at an average price of $288.72, for a total value of $96,721.20. Following the transaction, the insider now directly owns 9,900 shares of the company’s stock, valued at $2,858,328. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Taras G. Jr. Szmagala sold 335 shares of Eaton stock in a transaction on Monday, August 12th. The shares were sold at an average price of $288.72, for a total value of $96,721.20. Following the transaction, the insider now directly owns 9,900 shares of the company’s stock, valued at $2,858,328. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Heath B. Monesmith sold 49,040 shares of Eaton stock in a transaction 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 completion of the transaction, the insider now directly owns 71,262 shares in the company, valued at $21,451,287.24. 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 insiders.

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.