Enterprise Bank & Trust Co Takes Position in Eaton Co. plc (NYSE:ETN)

Enterprise Bank & Trust Co acquired a new position in Eaton Co. plc (NYSE:ETN) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 1,098 shares of the industrial products company’s stock, valued at approximately $364,000.

Other large investors also recently added to or reduced their stakes in the company. Breakwater Investment Management increased its stake 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 during the period. Atwood & Palmer Inc. raised its holdings 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 buying an additional 50 shares during the last quarter. Proffitt & Goodson Inc. purchased a new stake in Eaton during the 2nd quarter valued at $29,000. Redmont Wealth Advisors LLC bought a new stake in Eaton in the 1st quarter worth $33,000. Finally, LGT Financial Advisors LLC purchased a new position in shares of Eaton in the second quarter valued at about $33,000. Institutional investors own 82.97% of the company’s stock.

Eaton Stock Up 0.8 %

ETN stock opened at $338.25 on Thursday. The company has a quick ratio of 1.07, a current ratio of 1.56 and a debt-to-equity ratio of 0.44. The business has a 50 day moving average of $305.05 and a 200 day moving average of $315.05. Eaton Co. plc has a twelve month low of $191.82 and a twelve month high of $345.19. The firm has a market cap of $135.23 billion, a PE ratio of 39.94, a price-to-earnings-growth ratio of 2.53 and a beta of 1.02.

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. Eaton had a return on equity of 21.45% and a net margin of 15.12%. The firm had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.35 billion. On average, research analysts forecast that Eaton Co. plc will post 10.75 EPS for the current fiscal year.

Eaton Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date of this dividend was Monday, August 5th. Eaton’s payout ratio is 44.39%.

Insider Activity at Eaton

In other Eaton news, Director Dorothy C. Thompson bought 2,205 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were acquired at an average cost of $300.30 per share, for a total transaction of $662,161.50. Following the purchase, the director now owns 2,205 shares in the company, valued at approximately $662,161.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related 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 approximately $2,858,328. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Dorothy C. Thompson bought 2,205 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were bought at an average price of $300.30 per share, with a total value of $662,161.50. Following the completion of the purchase, the director now owns 2,205 shares in the company, valued at approximately $662,161.50. The disclosure for this purchase can be found here. Insiders sold 52,511 shares of company stock valued at $15,809,326 over the last 90 days. Corporate insiders own 0.53% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Citigroup initiated coverage on Eaton in a research note on Monday, September 16th. They issued a “buy” rating and a $348.00 target price on the stock. Raymond James cut their price objective on Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research report on Monday, September 9th. Wolfe Research raised Eaton from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Jefferies Financial Group raised their price target on Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. Finally, Wells Fargo & Company boosted their price objective on shares of Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a research report on Monday. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $339.47.

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.