Eaton Co. plc (NYSE:ETN) Shares Bought by Trust Co. of Toledo NA OH

Trust Co. of Toledo NA OH raised its position in Eaton Co. plc (NYSE:ETN) by 0.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 16,446 shares of the industrial products company’s stock after buying an additional 91 shares during the period. Trust Co. of Toledo NA OH’s holdings in Eaton were worth $4,471,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC boosted its holdings in shares of Eaton by 1.4% during the 4th quarter. Brighton Jones LLC now owns 3,341 shares of the industrial products company’s stock worth $1,109,000 after purchasing an additional 45 shares during the last quarter. Revolve Wealth Partners LLC lifted its holdings in Eaton by 17.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 913 shares of the industrial products company’s stock valued at $303,000 after acquiring an additional 136 shares during the last quarter. Van ECK Associates Corp purchased a new position in Eaton in the fourth quarter worth approximately $22,022,000. Valeo Financial Advisors LLC grew its position in Eaton by 2.5% in the fourth quarter. Valeo Financial Advisors LLC now owns 11,537 shares of the industrial products company’s stock worth $3,829,000 after acquiring an additional 280 shares during the period. Finally, Bank Pictet & Cie Europe AG purchased a new position in Eaton in the fourth quarter worth approximately $42,839,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ETN. Wall Street Zen upgraded Eaton from a “hold” rating to a “buy” rating in a research report on Sunday, May 18th. Morgan Stanley lowered their price objective on Eaton from $385.00 to $375.00 and set an “overweight” rating for the company in a research report on Tuesday, May 6th. Wells Fargo & Company reiterated an “overweight” rating and issued a $355.00 price objective on shares of Eaton in a research report on Monday, May 5th. Evercore ISI boosted their target price on Eaton from $326.00 to $349.00 and gave the company an “in-line” rating in a research report on Monday, May 19th. Finally, Royal Bank of Canada boosted their target price on Eaton from $336.00 to $356.00 and gave the company an “outperform” rating in a research report on Monday, May 5th. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $368.78.

Insider Activity at Eaton

In related news, insider Michael Yelton sold 2,120 shares of the firm’s stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total transaction of $629,364.40. Following the sale, the insider now owns 3,382 shares in the company, valued at approximately $1,004,014.34. This trade represents a 38.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Craig Arnold sold 103,486 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $322.75, for a total transaction of $33,400,106.50. Following the sale, the insider now owns 490,208 shares in the company, valued at approximately $158,214,632. This trade represents a 17.43% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 156,660 shares of company stock valued at $49,622,894. 0.30% of the stock is owned by corporate insiders.

Eaton Price Performance

Shares of ETN opened at $323.26 on Friday. Eaton Co. plc has a fifty-two week low of $231.85 and a fifty-two week high of $379.99. The company has a market capitalization of $126.49 billion, a price-to-earnings ratio of 34.03, a price-to-earnings-growth ratio of 2.64 and a beta of 1.16. The firm has a 50-day simple moving average of $304.79 and a 200-day simple moving average of $314.63. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50.

Eaton (NYSE:ETN) last announced its earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share for the quarter, topping the consensus estimate of $2.70 by $0.02. The business had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.26 billion. Eaton had a net margin of 15.25% and a return on equity of 22.62%. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.40 earnings per share. On average, equities research analysts anticipate that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were given a dividend of $1.04 per share. The ex-dividend date was Monday, May 5th. This represents a $4.16 annualized dividend and a dividend yield of 1.29%. Eaton’s dividend payout ratio is currently 41.98%.

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.