UMB Bank n.a. Lowers Holdings in Eaton Co. plc (NYSE:ETN)

UMB Bank n.a. lowered its position in Eaton Co. plc (NYSE:ETN) by 3.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 127,876 shares of the industrial products company’s stock after selling 4,046 shares during the quarter. UMB Bank n.a.’s holdings in Eaton were worth $42,383,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Breakwater Investment Management increased its stake in shares of 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 buying an additional 78 shares during the period. Atwood & Palmer Inc. increased its position in Eaton by 142.9% during the 1st quarter. Atwood & Palmer Inc. now owns 85 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 50 shares during the period. Proffitt & Goodson Inc. bought a new stake in shares of Eaton in the 2nd quarter valued at about $29,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Eaton in the 1st quarter worth approximately $33,000. Finally, LGT Financial Advisors LLC bought a new position in shares of Eaton during the second quarter valued at approximately $33,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Eaton Price Performance

Shares of NYSE ETN traded down $2.48 during trading on Thursday, hitting $335.77. 252,941 shares of the company were exchanged, compared to its average volume of 2,135,427. The firm’s fifty day moving average price is $305.71 and its 200 day moving average price is $315.22. Eaton Co. plc has a 1 year low of $191.82 and a 1 year high of $345.19. 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 cap of $134.24 billion, a price-to-earnings ratio of 39.94, a PEG ratio of 2.53 and a beta of 1.02.

Eaton (NYSE:ETN) last issued its quarterly earnings results 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 return on equity of 21.45% and a net margin of 15.12%. The company had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.35 billion. On average, sell-side analysts expect that Eaton Co. plc will post 10.75 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend was Monday, August 5th. Eaton’s payout ratio is 44.39%.

Insiders Place Their Bets

In other Eaton news, Director Karenann K. Terrell purchased 500 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was acquired at an average cost of $298.97 per share, with a total value of $149,485.00. Following the acquisition, the director now owns 500 shares of the company’s stock, valued at approximately $149,485. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In other Eaton news, Director Dorothy C. Thompson purchased 2,205 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were acquired at an average price of $300.30 per share, for a total transaction of $662,161.50. Following the completion of the acquisition, the director now owns 2,205 shares of the company’s stock, valued at $662,161.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Karenann K. Terrell purchased 500 shares of Eaton stock in a transaction dated Wednesday, August 21st. The stock was bought at an average cost of $298.97 per share, with a total value of $149,485.00. Following the completion of the transaction, the director now directly owns 500 shares of the company’s stock, valued at $149,485. The disclosure for this purchase can be found here. Insiders sold a total of 52,511 shares of company stock valued at $15,809,326 in the last ninety days. Corporate insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ETN shares. Jefferies Financial Group raised their price objective on Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Raymond James lowered their price target on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a report on Monday, September 9th. Morgan Stanley assumed coverage on shares of Eaton in a research note on Friday, September 6th. They set an “overweight” rating and a $370.00 price objective for the company. Wolfe Research upgraded shares of Eaton from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Finally, Barclays upped their price target on Eaton from $319.00 to $327.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 2nd. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Eaton presently has an average rating of “Moderate Buy” and an average target price of $339.47.

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.