Trust Co of Kansas Invests $240,000 in Eaton Co. plc (NYSE:ETN)

Trust Co of Kansas acquired a new stake in shares of Eaton Co. plc (NYSE:ETN) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 723 shares of the industrial products company’s stock, valued at approximately $240,000.

Other institutional investors also recently added to or reduced their stakes in the company. Breakwater Investment Management boosted its holdings in Eaton by 1,560.0% during the second quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 78 shares in the last quarter. Atwood & Palmer Inc. raised its position in Eaton by 142.9% in the 1st quarter. Atwood & Palmer Inc. now owns 85 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 50 shares during the last quarter. Proffitt & Goodson Inc. bought a new position in Eaton in the 2nd quarter worth approximately $29,000. LGT Financial Advisors LLC bought a new stake in shares of Eaton during the 2nd quarter valued at $33,000. Finally, Redmont Wealth Advisors LLC bought a new stake in shares of Eaton during the 1st quarter valued at $33,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on ETN. Citigroup began coverage on shares of Eaton in a research report on Monday, September 16th. They issued a “buy” rating and a $348.00 price objective for the company. Evercore ISI reduced their target price on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. 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, September 9th. Morgan Stanley initiated coverage on shares of Eaton in a research note on Friday, September 6th. They issued an “overweight” rating and a $370.00 target price for the company. Finally, Wolfe Research upgraded shares of Eaton from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $339.47.

Eaton Stock Performance

NYSE ETN opened at $335.47 on Wednesday. The company has a current ratio of 1.56, a quick ratio of 1.07 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $134.12 billion, a price-to-earnings ratio of 39.61, a P/E/G ratio of 2.53 and a beta of 1.02. The firm’s 50 day simple moving average is $304.08 and its 200 day simple moving average is $314.92. Eaton Co. plc has a 1 year low of $191.82 and a 1 year high of $345.19.

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 net margin of 15.12% and a return on equity of 21.45%. As a group, research analysts expect that Eaton Co. plc will post 10.75 earnings per share for the current fiscal year.

Eaton Dividend Announcement

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 dividend of $0.94 per share. The ex-dividend date was Monday, August 5th. This represents a $3.76 annualized dividend and a dividend yield of 1.12%. Eaton’s dividend payout ratio is 44.39%.

Insider Buying and Selling

In other Eaton 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 value of $96,721.20. Following the sale, the insider now owns 9,900 shares in the company, valued at $2,858,328. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other Eaton 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 value of $96,721.20. Following the sale, the insider now owns 9,900 shares in the company, valued at $2,858,328. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Dorothy C. Thompson bought 2,205 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was bought at an average price of $300.30 per share, for a total transaction of $662,161.50. Following the transaction, the director now directly owns 2,205 shares of the company’s stock, valued at approximately $662,161.50. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 52,511 shares of company stock worth $15,809,326. Corporate insiders own 0.53% of the company’s stock.

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.