CNB Bank Has $1.34 Million Holdings in Eaton Co. plc (NYSE:ETN)

CNB Bank boosted its holdings in Eaton Co. plc (NYSE:ETN) by 8.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,038 shares of the industrial products company’s stock after acquiring an additional 313 shares during the quarter. CNB Bank’s holdings in Eaton were worth $1,340,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Geode Capital Management LLC raised its stake in shares of Eaton by 0.7% in the third quarter. Geode Capital Management LLC now owns 8,069,341 shares of the industrial products company’s stock valued at $2,665,342,000 after acquiring an additional 56,516 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of Eaton by 0.6% during the second quarter. Legal & General Group Plc now owns 3,206,251 shares of the industrial products company’s stock worth $1,005,317,000 after purchasing an additional 18,077 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Eaton by 15.1% in the third quarter. Franklin Resources Inc. now owns 2,421,626 shares of the industrial products company’s stock valued at $836,938,000 after buying an additional 316,830 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of Eaton by 32.8% in the third quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company’s stock valued at $801,798,000 after buying an additional 597,700 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Eaton by 253.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,273,685 shares of the industrial products company’s stock worth $753,590,000 after buying an additional 1,629,856 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Eaton

In other news, Director Gregory R. Page sold 4,000 shares of Eaton stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $335.30, for a total value of $1,341,200.00. Following the sale, the director now directly owns 51,422 shares in the company, valued at $17,241,796.60. This trade represents a 7.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Craig Arnold sold 61,569 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the sale, the insider now directly owns 506,360 shares in the company, valued at $182,780,769.20. This trade represents a 10.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 76,981 shares of company stock valued at $27,660,117 in the last 90 days. 0.33% of the stock is currently owned by company insiders.

Eaton Stock Performance

Shares of Eaton stock opened at $347.87 on Friday. Eaton Co. plc has a 12 month low of $236.20 and a 12 month high of $379.99. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $137.48 billion, a PE ratio of 37.02, a PEG ratio of 2.27 and a beta of 1.06. The stock’s fifty day simple moving average is $355.04 and its 200 day simple moving average is $329.43.

Eaton (NYSE:ETN) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.80 by $0.04. The business had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. Eaton’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.47 EPS. On average, research analysts predict that Eaton Co. plc will post 10.8 EPS for the current year.

Eaton Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 4th were given a $0.94 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $3.76 annualized dividend and a yield of 1.08%. Eaton’s dividend payout ratio is currently 40.00%.

Wall Street Analyst Weigh In

ETN has been the topic of a number of research reports. Wells Fargo & Company reduced their target price on shares of Eaton from $365.00 to $350.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Jefferies Financial Group lifted their target price on Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Mizuho upped their price target on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. lowered their price objective on Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, Sanford C. Bernstein initiated coverage on shares of Eaton in a research report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 price target for the company. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $368.89.

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.