Eaton Co. plc (NYSE:ETN) Shares Sold by Community Bank N.A.

Community Bank N.A. decreased its position in shares of Eaton Co. plc (NYSE:ETN) by 15.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,530 shares of the industrial products company’s stock after selling 275 shares during the period. Community Bank N.A.’s holdings in Eaton were worth $507,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the company. Concentric Capital Strategies LP raised its position in Eaton by 68.5% in the 3rd quarter. Concentric Capital Strategies LP now owns 33,627 shares of the industrial products company’s stock valued at $11,145,000 after purchasing an additional 13,669 shares during the last quarter. Ascent Group LLC increased its stake in Eaton by 537.5% in the third quarter. Ascent Group LLC now owns 5,049 shares of the industrial products company’s stock valued at $1,673,000 after purchasing an additional 4,257 shares during the period. Beacon Investment Advisory Services Inc. raised its holdings in shares of Eaton by 1.3% in the third quarter. Beacon Investment Advisory Services Inc. now owns 46,328 shares of the industrial products company’s stock valued at $15,355,000 after buying an additional 575 shares during the last quarter. Benjamin Edwards Inc. acquired a new stake in shares of Eaton during the third quarter worth about $3,371,000. Finally, Avalon Global Asset Management LLC grew its holdings in shares of Eaton by 49.8% during the third quarter. Avalon Global Asset Management LLC now owns 45,100 shares of the industrial products company’s stock worth $14,948,000 after buying an additional 15,000 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Eaton news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $378.58, for a total value of $534,554.96. Following the sale, the insider now directly owns 31,200 shares of the company’s stock, valued at approximately $11,811,696. This trade represents a 4.33 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gregory R. Page sold 4,000 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the transaction, the director now directly owns 51,422 shares of the company’s stock, valued at approximately $17,241,796.60. This represents a 7.22 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,981 shares of company stock worth $24,100,317. 0.53% of the stock is owned by insiders.

Eaton Trading Down 0.9 %

Shares of Eaton stock opened at $372.22 on Tuesday. The business has a 50 day moving average price of $348.37 and a 200 day moving average price of $324.41. The company has a market capitalization of $147.10 billion, a P/E ratio of 39.60, a P/E/G ratio of 2.84 and a beta of 1.01. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00. Eaton Co. plc has a 1 year low of $224.61 and a 1 year high of $379.99.

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

Eaton Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 4th were paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend was Monday, November 4th. Eaton’s payout ratio is 40.00%.

Analyst Ratings Changes

A number of analysts have weighed in on ETN shares. Sanford C. Bernstein assumed coverage on Eaton in a research report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 price objective for the company. Wolfe Research upgraded shares of Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Bank of America upped their price objective on shares of Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Barclays dropped their price target on shares of Eaton from $327.00 to $320.00 and set an “equal weight” rating on the stock in a research note on Friday, November 1st. Finally, UBS Group began coverage on shares of Eaton in a research report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, Eaton presently has a consensus rating of “Moderate Buy” and a consensus target price of $357.83.

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.