CHICAGO TRUST Co NA Purchases 859 Shares of Eaton Co. plc (NYSE:ETN)

CHICAGO TRUST Co NA increased its position in shares of Eaton Co. plc (NYSE:ETN) by 77.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,965 shares of the industrial products company’s stock after purchasing an additional 859 shares during the period. CHICAGO TRUST Co NA’s holdings in Eaton were worth $651,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ETN. Strategic Wealth Partners Ltd. increased its holdings in shares of Eaton by 3.0% during the third quarter. Strategic Wealth Partners Ltd. now owns 1,027 shares of the industrial products company’s stock worth $340,000 after buying an additional 30 shares in the last quarter. Legacy Capital Group California Inc. raised its position in Eaton by 1.2% in the 2nd quarter. Legacy Capital Group California Inc. now owns 2,776 shares of the industrial products company’s stock valued at $870,000 after purchasing an additional 32 shares during the last quarter. Well Done LLC boosted its stake in Eaton by 1.3% in the second quarter. Well Done LLC now owns 2,551 shares of the industrial products company’s stock worth $800,000 after purchasing an additional 33 shares in the last quarter. J.W. Cole Advisors Inc. grew its holdings in shares of Eaton by 1.7% during the second quarter. J.W. Cole Advisors Inc. now owns 2,053 shares of the industrial products company’s stock worth $644,000 after purchasing an additional 35 shares during the last quarter. Finally, Front Row Advisors LLC increased its stake in shares of Eaton by 0.4% in the second quarter. Front Row Advisors LLC now owns 7,842 shares of the industrial products company’s stock valued at $2,459,000 after buying an additional 35 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

Eaton Price Performance

Shares of ETN stock opened at $341.39 on Monday. The firm has a market capitalization of $135.91 billion, a price-to-earnings ratio of 37.56, a price-to-earnings-growth ratio of 2.58 and a beta of 1.02. Eaton Co. plc has a 12-month low of $191.82 and a 12-month high of $345.19. 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 firm has a fifty day moving average of $307.72 and a 200-day moving average of $315.60.

Eaton (NYSE:ETN) last announced 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 company had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.35 billion. On average, equities research analysts forecast that Eaton Co. plc will post 10.75 earnings per share for the current year.

Eaton Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were issued a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 1.10%. The ex-dividend date was Monday, August 5th. Eaton’s dividend payout ratio (DPR) is presently 41.36%.

Insider Transactions at Eaton

In other Eaton news, insider Taras G. Jr. Szmagala sold 335 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Taras G. Jr. Szmagala sold 335 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $288.72, for a total transaction of $96,721.20. Following the transaction, the insider now directly owns 9,900 shares in the company, valued at approximately $2,858,328. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dorothy C. Thompson purchased 2,205 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was purchased at an average price of $300.30 per share, with a total value of $662,161.50. Following the purchase, the director now owns 2,205 shares of the company’s stock, 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 quarter. Corporate insiders own 0.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Evercore ISI decreased their price objective on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a report on Monday, August 19th. Royal Bank of Canada decreased their price target on shares of Eaton from $376.00 to $371.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Wolfe Research upgraded shares of Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Raymond James decreased 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. Finally, Wells Fargo & Company boosted their target price on Eaton from $315.00 to $342.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Eaton has an average rating of “Moderate Buy” and an average target price of $339.47.

Eaton Company 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.