Eaton Corporation, PLC (NYSE:ETN) Shares Sold by First National Bank & Trust Co. of Newtown

First National Bank & Trust Co. of Newtown lowered its position in shares of Eaton Corporation, PLC (NYSE:ETN) by 3.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,553 shares of the industrial products company’s stock after selling 50 shares during the period. First National Bank & Trust Co. of Newtown’s holdings in Eaton were worth $422,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in ETN. Capital A Wealth Management LLC acquired a new stake in shares of Eaton during the fourth quarter worth about $26,000. Flagship Wealth Advisors LLC acquired a new position in Eaton in the 4th quarter valued at about $27,000. Creative Financial Designs Inc. ADV increased its position in Eaton by 102.0% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 101 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 51 shares during the period. Murphy & Mullick Capital Management Corp acquired a new position in Eaton in the 4th quarter valued at about $33,000. Finally, Vermillion Wealth Management Inc. acquired a new position in Eaton in the 4th quarter valued at about $33,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insiders Place Their Bets

In other Eaton 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 transaction of $629,364.40. Following the transaction, the insider owned 3,382 shares of the company’s stock, valued at $1,004,014.34. This represents a 38.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Craig Arnold sold 103,486 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $322.75, for a total value of $33,400,106.50. Following the transaction, the insider directly owned 490,208 shares in the company, valued at approximately $158,214,632. This represents a 17.43% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 156,660 shares of company stock worth $49,622,894. Corporate insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on ETN. Citigroup boosted their price target on Eaton from $323.00 to $351.00 and gave the company a “buy” rating in a research report on Monday, May 5th. KeyCorp boosted their price target on Eaton from $325.00 to $355.00 and gave the company an “overweight” rating in a research report on Monday, May 5th. Barclays lifted their price objective on Eaton from $306.00 to $323.00 and gave the company an “equal weight” rating in a report on Monday, June 9th. Morgan Stanley lowered their price objective on Eaton from $385.00 to $375.00 and set an “overweight” rating on the stock in a report on Tuesday, May 6th. Finally, Jefferies Financial Group lowered their price objective on Eaton from $390.00 to $335.00 and set a “buy” rating on the stock in a report on Wednesday, March 12th. Six equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $369.74.

Eaton Price Performance

ETN stock opened at $357.17 on Wednesday. Eaton Corporation, PLC has a 1 year low of $231.85 and a 1 year high of $379.99. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.84 and a current ratio of 1.31. The stock’s 50 day moving average price is $329.10 and its 200 day moving average price is $313.08. The firm has a market cap of $139.76 billion, a P/E ratio of 36.04, a PEG ratio of 2.70 and a beta of 1.17.

Eaton (NYSE:ETN) last posted its earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.70 by $0.02. Eaton had a return on equity of 23.41% and a net margin of 15.55%. The firm had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.26 billion. During the same quarter in the prior year, the company earned $2.40 EPS. Eaton’s revenue was up 7.3% on a year-over-year basis. On average, sell-side analysts expect that Eaton Corporation, PLC will post 12.02 earnings per share for the current fiscal year.

Eaton Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend was Monday, May 5th. Eaton’s dividend payout ratio is presently 41.98%.

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.