Eaton Co. plc (NYSE:ETN) Shares Bought by Hancock Whitney Corp

Hancock Whitney Corp raised its position in Eaton Co. plc (NYSE:ETN) by 2.6% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 2,815 shares of the industrial products company’s stock after acquiring an additional 72 shares during the period. Hancock Whitney Corp’s holdings in Eaton were worth $883,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in ETN. Gryphon Financial Partners LLC grew its holdings in Eaton by 81.3% in the fourth quarter. Gryphon Financial Partners LLC now owns 2,348 shares of the industrial products company’s stock valued at $565,000 after purchasing an additional 1,053 shares during the last quarter. Orion Portfolio Solutions LLC grew its stake in Eaton by 0.8% in the 4th quarter. Orion Portfolio Solutions LLC now owns 30,986 shares of the industrial products company’s stock valued at $7,405,000 after acquiring an additional 258 shares during the last quarter. Sepio Capital LP increased its holdings in Eaton by 21.6% during the 4th quarter. Sepio Capital LP now owns 1,554 shares of the industrial products company’s stock valued at $374,000 after acquiring an additional 276 shares in the last quarter. Nations Financial Group Inc. IA ADV raised its position in Eaton by 4.7% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 2,522 shares of the industrial products company’s stock worth $607,000 after acquiring an additional 113 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in shares of Eaton by 57.0% in the fourth quarter. Hsbc Holdings PLC now owns 402,471 shares of the industrial products company’s stock valued at $96,861,000 after purchasing an additional 146,056 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Activity at Eaton

In other Eaton news, Director Dorothy C. Thompson acquired 2,205 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was bought at an average cost of $300.30 per share, for a total transaction of $662,161.50. Following the completion of the purchase, the director now directly owns 2,205 shares in the company, valued at $662,161.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Dorothy C. Thompson bought 2,205 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average price of $300.30 per share, with a total value of $662,161.50. Following the completion of the transaction, the director now directly owns 2,205 shares of the company’s stock, valued at $662,161.50. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Taras G. Jr. Szmagala sold 335 shares of the stock in a transaction dated Monday, August 12th. The shares were 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 approximately $2,858,328. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,511 shares of company stock worth $15,809,326. Company insiders own 0.53% of the company’s stock.

Eaton Stock Performance

NYSE:ETN opened at $330.60 on Monday. Eaton Co. plc has a fifty-two week low of $191.82 and a fifty-two week high of $345.19. The firm’s 50 day moving average is $299.93 and its two-hundred day moving average is $312.71. The company has a market cap of $132.17 billion, a P/E ratio of 39.03, a P/E/G ratio of 2.28 and a beta of 1.01. 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 issued its earnings results on Thursday, August 1st. The industrial products company reported $2.73 earnings per share for the quarter, beating analysts’ consensus estimates of $2.61 by $0.12. The firm had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.35 billion. Eaton had a return on equity of 21.45% and a net margin of 15.12%. Analysts expect that Eaton Co. plc will post 10.74 EPS for the current year.

Eaton Dividend Announcement

The firm also recently announced 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. This represents a $3.76 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date was Monday, August 5th. Eaton’s dividend payout ratio (DPR) is presently 44.39%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ETN. Jefferies Financial Group raised their price objective on shares of Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. Wolfe Research raised Eaton from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Wells Fargo & Company decreased their price objective on Eaton from $320.00 to $315.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. Citigroup began coverage on shares of Eaton in a research note on Monday, September 16th. They issued a “buy” rating and a $348.00 target price for the company. Finally, Evercore ISI decreased 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. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $337.41.

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.