Eaton Co. plc (NYSE:ETN) Stock Holdings Reduced by Farmers Trust Co.

Farmers Trust Co. cut its position in shares of Eaton Co. plc (NYSE:ETN) by 2.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,489 shares of the industrial products company’s stock after selling 100 shares during the period. Farmers Trust Co.’s holdings in Eaton were worth $1,156,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. J. W. Coons Advisors LLC lifted its holdings in Eaton by 2.1% in the 4th quarter. J. W. Coons Advisors LLC now owns 12,979 shares of the industrial products company’s stock worth $3,126,000 after purchasing an additional 265 shares during the last quarter. Rafferty Asset Management LLC lifted its stake in shares of Eaton by 5.5% in the fourth quarter. Rafferty Asset Management LLC now owns 33,490 shares of the industrial products company’s stock worth $8,065,000 after buying an additional 1,757 shares during the last quarter. CIBC Private Wealth Group LLC boosted its holdings in shares of Eaton by 16.9% during the 4th quarter. CIBC Private Wealth Group LLC now owns 22,696 shares of the industrial products company’s stock worth $5,466,000 after buying an additional 3,284 shares during the period. Capital World Investors bought a new position in Eaton in the 4th quarter worth $181,411,000. Finally, Public Employees Retirement Association of Colorado acquired a new position in Eaton during the 4th quarter worth $14,447,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Eaton Stock Down 0.3 %

Shares of NYSE:ETN opened at $326.96 on Friday. The company has a 50 day moving average of $302.61 and a 200-day moving average of $314.43. Eaton Co. plc has a one year low of $191.82 and a one year high of $345.19. The stock has a market cap of $130.72 billion, a price-to-earnings ratio of 38.60, a P/E/G ratio of 2.53 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 (NYSE:ETN) last posted its quarterly earnings results on Thursday, August 1st. The industrial products company reported $2.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.61 by $0.12. The business had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.35 billion. Eaton had a return on equity of 21.45% and a net margin of 15.12%. On average, sell-side analysts forecast that Eaton Co. plc will post 10.75 earnings per share for the current year.

Eaton Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were given 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 1.15%. Eaton’s dividend payout ratio is 44.39%.

Analyst Upgrades and Downgrades

ETN has been the subject of several research analyst reports. Royal Bank of Canada cut their price objective on Eaton from $376.00 to $371.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Morgan Stanley initiated coverage on Eaton in a research report on Friday, September 6th. They issued an “overweight” rating and a $370.00 price objective for the company. Evercore ISI dropped their target price on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a research report on Monday, August 19th. Jefferies Financial Group increased their price target on shares of Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Finally, Wolfe Research upgraded shares of Eaton from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, Eaton has an average rating of “Moderate Buy” and a consensus target price of $337.88.

Insider Buying and Selling

In other Eaton news, insider Heath B. Monesmith sold 49,040 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $301.02, for a total value of $14,762,020.80. Following the completion of the sale, the insider now owns 71,262 shares of the company’s stock, valued at $21,451,287.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Karenann K. Terrell acquired 500 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were acquired 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 in the company, valued at approximately $149,485. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Heath B. Monesmith sold 49,040 shares of the company’s 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 of the company’s stock, valued at $21,451,287.24. The disclosure for this sale can be found here. Insiders have sold 52,511 shares of company stock valued at $15,809,326 in the last 90 days. 0.53% of the stock is owned by insiders.

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.