Plimoth Trust Co. LLC Trims Stake in Eaton Co. plc (NYSE:ETN)

Plimoth Trust Co. LLC lowered its position in Eaton Co. plc (NYSE:ETN) by 0.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,925 shares of the industrial products company’s stock after selling 50 shares during the period. Plimoth Trust Co. LLC’s holdings in Eaton were worth $3,952,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. RFG Advisory LLC grew its stake in Eaton by 5.3% in the first quarter. RFG Advisory LLC now owns 4,233 shares of the industrial products company’s stock worth $1,323,000 after purchasing an additional 213 shares in the last quarter. International Assets Investment Management LLC grew its position in shares of Eaton by 139.5% during the 1st quarter. International Assets Investment Management LLC now owns 3,145 shares of the industrial products company’s stock worth $981,000 after buying an additional 1,832 shares in the last quarter. Northwest Investment Counselors LLC purchased a new position in shares of Eaton during the first quarter valued at $47,000. Global Trust Asset Management LLC grew its holdings in Eaton by 37.5% during the 1st quarter. Global Trust Asset Management LLC now owns 275 shares of the industrial products company’s stock worth $86,000 after acquiring an additional 75 shares in the last quarter. Finally, Global Assets Advisory LLC purchased a new position in shares of Eaton in the 1st quarter valued at $8,976,000. 82.97% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Eaton news, insider Heath B. Monesmith sold 49,040 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $301.02, for a total transaction of $14,762,020.80. Following the completion of the sale, the insider now directly owns 71,262 shares in the company, valued at approximately $21,451,287.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Heath B. Monesmith sold 49,040 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $301.02, for a total value of $14,762,020.80. Following the completion of the sale, the insider now directly owns 71,262 shares in the company, valued at $21,451,287.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Taras G. Jr. Szmagala sold 335 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $288.72, for a total transaction of $96,721.20. Following the transaction, the insider now owns 9,900 shares in the company, valued at $2,858,328. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 52,511 shares of company stock worth $15,809,326. Company insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

ETN has been the subject of a number of analyst reports. Morgan Stanley started coverage on shares of Eaton in a research report on Friday, September 6th. They set an “overweight” rating and a $370.00 target price for the company. Raymond James reduced their target price on Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research report on Monday, September 9th. Wells Fargo & Company increased 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, October 7th. Jefferies Financial Group boosted their target price on shares of Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Finally, Evercore ISI decreased their price target on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating for the company in a report on Monday, August 19th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Eaton presently has a consensus rating of “Moderate Buy” and a consensus target price of $340.06.

Eaton Stock Performance

Shares of ETN traded down $1.11 during trading hours on Monday, hitting $347.07. The stock had a trading volume of 1,042,246 shares, compared to its average volume of 2,109,607. The firm has a 50-day moving average price of $314.01 and a 200 day moving average price of $316.65. Eaton Co. plc has a fifty-two week low of $193.26 and a fifty-two week high of $349.74. The firm has a market capitalization of $138.76 billion, a price-to-earnings ratio of 41.11, a PEG ratio of 2.58 and a beta of 1.02. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.07 and a current ratio of 1.56.

Eaton (NYSE:ETN) last posted its earnings results on Thursday, August 1st. The industrial products company reported $2.73 EPS 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%. As a group, research analysts anticipate that Eaton Co. plc will post 10.75 EPS for the current year.

Eaton Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were issued a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 1.08%. The ex-dividend date was Monday, August 5th. Eaton’s payout ratio is presently 44.39%.

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.