First County Bank CT Has $1.49 Million Stock Position in Eaton Co. plc (NYSE:ETN)

First County Bank CT lessened its position in shares of Eaton Co. plc (NYSE:ETN) by 10.0% in the fourth quarter, HoldingsChannel reports. The fund owned 4,474 shares of the industrial products company’s stock after selling 499 shares during the period. First County Bank CT’s holdings in Eaton were worth $1,485,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in ETN. Breakwater Investment Management grew its holdings in Eaton by 1,560.0% in the 2nd quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock valued at $26,000 after buying an additional 78 shares in the last quarter. Groupama Asset Managment increased its position in Eaton by 83.2% during the third quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 4,298 shares during the period. Morse Asset Management Inc acquired a new stake in Eaton in the 3rd quarter worth about $33,000. West Financial Advisors LLC bought a new stake in Eaton in the 3rd quarter valued at about $35,000. Finally, DT Investment Partners LLC acquired a new position in shares of Eaton during the 3rd quarter worth approximately $37,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Transactions at Eaton

In other news, insider Craig Arnold sold 61,569 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the completion of the sale, the insider now owns 506,360 shares of the company’s stock, valued at $182,780,769.20. This trade represents a 10.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $378.58, for a total transaction of $534,554.96. Following the transaction, the insider now directly owns 31,200 shares in the company, valued at approximately $11,811,696. This represents a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 76,981 shares of company stock worth $27,660,117 over the last three months. 0.53% of the stock is owned by company insiders.

Eaton Trading Down 1.2 %

Shares of NYSE:ETN traded down $4.19 during mid-day trading on Tuesday, reaching $344.37. 1,354,704 shares of the company’s stock were exchanged, compared to its average volume of 2,160,307. The firm has a market capitalization of $136.10 billion, a price-to-earnings ratio of 36.64, a PEG ratio of 2.74 and a beta of 1.06. Eaton Co. plc has a twelve month low of $234.20 and a twelve month high of $379.99. The business’s fifty day moving average price is $354.73 and its 200-day moving average price is $328.29. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53.

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

Eaton Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 4th were paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date was Monday, November 4th. Eaton’s dividend payout ratio is currently 40.00%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ETN. Barclays boosted their price target on Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Jefferies Financial Group raised their price target on Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Royal Bank of Canada upped their price objective on shares of Eaton from $374.00 to $392.00 and gave the stock an “outperform” rating in a research report on Friday. UBS Group started coverage on shares of Eaton in a report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 target price on the stock. Finally, Wells Fargo & Company cut their price target on shares of Eaton from $365.00 to $350.00 and set an “equal weight” rating for the company in a report on Tuesday. 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 data from MarketBeat.com, Eaton has a consensus rating of “Moderate Buy” and a consensus price target of $369.28.

Eaton 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.