Field & Main Bank Has $2.42 Million Stock Position in Eaton Corporation, PLC (NYSE:ETN)

Field & Main Bank lowered its stake in Eaton Corporation, PLC (NYSE:ETN) by 3.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,911 shares of the industrial products company’s stock after selling 304 shares during the quarter. Field & Main Bank’s holdings in Eaton were worth $2,422,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of ETN. Vanguard Group Inc. raised its holdings in Eaton by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 37,217,906 shares of the industrial products company’s stock worth $12,351,506,000 after purchasing an additional 99,291 shares during the last quarter. FMR LLC lifted its holdings in Eaton by 1.2% in the fourth quarter. FMR LLC now owns 15,222,248 shares of the industrial products company’s stock valued at $5,051,807,000 after buying an additional 182,455 shares during the period. Geode Capital Management LLC boosted its position in Eaton by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 8,198,412 shares of the industrial products company’s stock valued at $2,714,677,000 after acquiring an additional 129,071 shares during the last quarter. Nuveen Asset Management LLC grew its holdings in Eaton by 4.3% during the 4th quarter. Nuveen Asset Management LLC now owns 4,671,185 shares of the industrial products company’s stock worth $1,550,226,000 after acquiring an additional 192,482 shares during the period. Finally, Northern Trust Corp raised its position in shares of Eaton by 8.8% in the 4th quarter. Northern Trust Corp now owns 4,574,704 shares of the industrial products company’s stock worth $1,518,207,000 after acquiring an additional 368,241 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on ETN shares. Barclays raised their target price on Eaton from $306.00 to $323.00 and gave the stock an “equal weight” rating in a research note on Monday, June 9th. JPMorgan Chase & Co. raised their price objective on shares of Eaton from $300.00 to $360.00 and gave the stock an “overweight” rating in a research report on Friday, May 16th. Citigroup lifted their price objective on shares of Eaton from $323.00 to $351.00 and gave the company a “buy” rating in a research note on Monday, May 5th. KeyCorp increased their target price on shares of Eaton from $325.00 to $355.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th. Finally, Jefferies Financial Group decreased their price target on shares of Eaton from $390.00 to $335.00 and set a “buy” rating for the company in a research note on Wednesday, March 12th. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, Eaton presently has a consensus rating of “Moderate Buy” and an average price target of $368.78.

Eaton Price Performance

NYSE ETN opened at $343.55 on Wednesday. The company has a market cap of $134.43 billion, a PE ratio of 34.67, a price-to-earnings-growth ratio of 2.58 and a beta of 1.16. The company has a quick ratio of 0.84, a current ratio of 1.31 and a debt-to-equity ratio of 0.41. The firm’s 50-day simple moving average is $313.24 and its two-hundred day simple moving average is $312.76. Eaton Corporation, PLC has a 52 week low of $231.85 and a 52 week high of $379.99.

Eaton (NYSE:ETN) last released its quarterly earnings data on Friday, May 2nd. The industrial products company reported $2.72 EPS for the quarter, topping the consensus estimate of $2.70 by $0.02. Eaton had a net margin of 15.55% and a return on equity of 23.41%. The company had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.26 billion. During the same period last year, the firm earned $2.40 EPS. Eaton’s revenue for the quarter was up 7.3% on a year-over-year basis. Research analysts predict that Eaton Corporation, PLC will post 12.02 earnings per share for the current year.

Eaton Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date was Monday, May 5th. Eaton’s payout ratio is presently 41.98%.

Insider Transactions at Eaton

In related news, insider Michael Yelton sold 2,120 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total value 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 filing with the SEC, which is accessible through the SEC website. Also, insider Craig Arnold sold 51,054 shares of the business’s stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $305.43, for a total value of $15,593,423.22. Following the transaction, the insider now owns 489,444 shares of the company’s stock, valued at approximately $149,490,880.92. The trade was a 9.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 156,660 shares of company stock valued at $49,622,894. 0.30% of the stock is currently owned by corporate insiders.

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.