Fulton Bank N.A. Has $2.36 Million Stake in Eaton Co. plc (NYSE:ETN)

Fulton Bank N.A. raised its stake in Eaton Co. plc (NYSE:ETN) by 36.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,117 shares of the industrial products company’s stock after purchasing an additional 1,917 shares during the quarter. Fulton Bank N.A.’s holdings in Eaton were worth $2,362,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of ETN. Breakwater Investment Management grew its position in Eaton by 1,560.0% in the 2nd quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 78 shares in the last quarter. Groupama Asset Managment grew its holdings in shares of Eaton by 83.2% in the third quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 4,298 shares in the last quarter. Morse Asset Management Inc purchased a new stake in shares of Eaton during the third quarter valued at approximately $33,000. West Financial Advisors LLC bought a new stake in Eaton during the third quarter worth $35,000. Finally, DT Investment Partners LLC purchased a new position in Eaton in the third quarter worth $37,000. Institutional investors own 82.97% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on ETN shares. Mizuho lifted their target price on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Sanford C. Bernstein initiated coverage on shares of Eaton in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 target price on the stock. Evercore ISI lowered shares of Eaton from an “outperform” rating to an “inline” rating and raised their price target for the stock from $333.00 to $389.00 in a research note on Wednesday, November 13th. Citigroup upped their price objective on Eaton from $394.00 to $440.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, UBS Group began coverage on Eaton in a research report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 target price for the company. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $369.28.

Eaton Stock Performance

Eaton stock opened at $345.24 on Thursday. Eaton Co. plc has a 1-year low of $235.67 and a 1-year high of $379.99. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $136.44 billion, a PE ratio of 36.73, a price-to-earnings-growth ratio of 2.74 and a beta of 1.06. The firm’s 50 day simple moving average is $354.74 and its 200 day simple moving average is $328.57.

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

Eaton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 4th were issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend was Monday, November 4th. Eaton’s payout ratio is 40.00%.

Insider Buying and Selling

In related news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $378.58, for a total value of $534,554.96. Following the completion of the transaction, the insider now directly owns 31,200 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Craig Arnold sold 61,569 shares of the firm’s stock in a transaction dated 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 owns 506,360 shares in the company, valued at $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 three months, insiders have sold 76,981 shares of company stock worth $27,660,117. Insiders own 0.53% of the company’s stock.

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.