Eaton Co. plc (NYSE:ETN) Shares Sold by Farmers Trust Co.

Farmers Trust Co. trimmed its stake in shares of Eaton Co. plc (NYSE:ETN) by 2.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm 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 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Norden Group LLC purchased a new stake in Eaton during the first quarter worth $2,176,000. Griffin Asset Management Inc. acquired a new position in shares of Eaton during the 1st quarter worth $813,000. IAM Advisory LLC acquired a new position in Eaton in the 2nd quarter valued at $599,000. Envestnet Portfolio Solutions Inc. grew its position in shares of Eaton by 19.2% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 78,725 shares of the industrial products company’s stock valued at $24,616,000 after purchasing an additional 12,689 shares during the period. Finally, Empowered Funds LLC increased its stake in shares of Eaton by 302.4% during the 1st quarter. Empowered Funds LLC now owns 23,273 shares of the industrial products company’s stock valued at $7,277,000 after acquiring an additional 17,490 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on ETN shares. Evercore ISI cut their price target on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th. Barclays lifted their price objective on Eaton from $319.00 to $327.00 and gave the company an “equal weight” rating in a research note on Wednesday. Morgan Stanley began coverage on shares of Eaton in a report on Friday, September 6th. They issued an “overweight” rating and a $370.00 price target on the stock. Wolfe Research upgraded shares of Eaton from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Finally, Jefferies Financial Group raised their target price 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 investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Eaton presently has an average rating of “Moderate Buy” and a consensus target price of $337.88.

Insider Buying and Selling at Eaton

In other news, insider Michael Yelton sold 3,136 shares of Eaton stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $303.12, for a total value of $950,584.32. Following the transaction, the insider now owns 3,914 shares of the company’s stock, valued at approximately $1,186,411.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Michael Yelton sold 3,136 shares of the business’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $303.12, for a total transaction of $950,584.32. Following the sale, the insider now directly owns 3,914 shares of the company’s stock, valued at $1,186,411.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Taras G. Jr. Szmagala sold 335 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $288.72, for a total transaction of $96,721.20. Following the completion of the transaction, 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. In the last 90 days, insiders have sold 52,511 shares of company stock valued at $15,809,326. Company insiders own 0.53% of the company’s stock.

Eaton Trading Down 0.3 %

Eaton stock opened at $326.96 on Friday. The firm has a 50-day moving average price of $302.61 and a two-hundred day moving average price of $314.43. Eaton Co. plc has a 52-week low of $191.82 and a 52-week high of $345.19. The firm has a market capitalization of $130.72 billion, a price-to-earnings ratio of 38.60, a PEG ratio of 2.53 and a beta of 1.02. 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 posted its earnings results on Thursday, August 1st. The industrial products company reported $2.73 EPS for the quarter, beating the consensus estimate of $2.61 by $0.12. Eaton had a return on equity of 21.45% and a net margin of 15.12%. The firm had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.35 billion. Sell-side analysts expect that Eaton Co. plc will post 10.75 earnings per share for the current year.

Eaton Dividend Announcement

The business also recently announced 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 yield of 1.15%. Eaton’s dividend payout ratio is presently 44.39%.

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.