Eaton Co. plc (NYSE:ETN) Shares Sold by Canandaigua National Bank & Trust Co.

Canandaigua National Bank & Trust Co. reduced its holdings in Eaton Co. plc (NYSE:ETN) by 5.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,309 shares of the industrial products company’s stock after selling 464 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in Eaton were worth $2,754,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Unique Wealth LLC raised its position in shares of Eaton by 9.6% during the 3rd quarter. Unique Wealth LLC now owns 3,735 shares of the industrial products company’s stock worth $1,238,000 after buying an additional 328 shares in the last quarter. Czech National Bank increased its stake in shares of Eaton by 6.4% during the third quarter. Czech National Bank now owns 81,097 shares of the industrial products company’s stock valued at $26,879,000 after acquiring an additional 4,912 shares during the period. Massmutual Trust Co. FSB ADV raised its holdings in Eaton by 4.6% during the third quarter. Massmutual Trust Co. FSB ADV now owns 22,687 shares of the industrial products company’s stock worth $7,519,000 after purchasing an additional 1,007 shares in the last quarter. Trust Co. of Toledo NA OH lifted its position in Eaton by 7.2% in the third quarter. Trust Co. of Toledo NA OH now owns 15,945 shares of the industrial products company’s stock worth $5,285,000 after purchasing an additional 1,068 shares during the period. Finally, Abacus Planning Group Inc. boosted its stake in Eaton by 3.4% during the 3rd quarter. Abacus Planning Group Inc. now owns 1,107 shares of the industrial products company’s stock valued at $367,000 after purchasing an additional 36 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Insiders Place Their Bets

In related news, insider Taras G. Jr. Szmagala sold 335 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $288.72, for a total transaction of $96,721.20. Following the transaction, the insider now 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 is available through this hyperlink. In related news, Director Karenann K. Terrell acquired 500 shares of the stock in a transaction dated Wednesday, August 21st. The shares were acquired at an average price of $298.97 per share, with a total value of $149,485.00. Following the acquisition, the director now owns 500 shares in the company, valued at approximately $149,485. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Taras G. Jr. Szmagala sold 335 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $288.72, for a total value of $96,721.20. Following the completion of the sale, the insider now owns 9,900 shares of the company’s stock, valued at $2,858,328. The disclosure for this sale can be found here. Insiders have sold a total of 52,511 shares of company stock valued at $15,809,326 in the last three months. Insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

ETN has been the topic of a number of research reports. Wolfe Research raised Eaton from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Jefferies Financial Group upped 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. Wells Fargo & Company lowered their price objective on shares of Eaton from $320.00 to $315.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. Royal Bank of Canada cut their target price 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. Finally, Raymond James decreased their price target on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research report on Monday, September 9th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $337.88.

Eaton Price Performance

Shares of ETN opened at $326.96 on Friday. The business’s 50-day moving average is $302.61 and its 200-day moving average is $314.43. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.56 and a quick ratio of 1.07. The company has a market capitalization 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. Eaton Co. plc has a fifty-two week low of $191.82 and a fifty-two week high of $345.19.

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

Eaton Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were paid 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 yield of 1.15%. Eaton’s dividend payout ratio (DPR) is currently 44.39%.

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.