Whittier Trust Co. Boosts Stock Holdings in Eaton Corporation, PLC (NYSE:ETN)

Whittier Trust Co. increased its holdings in Eaton Corporation, PLC (NYSE:ETN) by 1.1% during the 1st quarter, Holdings Channel reports. The firm owned 256,637 shares of the industrial products company’s stock after buying an additional 2,904 shares during the period. Eaton makes up approximately 1.0% of Whittier Trust Co.’s investment portfolio, making the stock its 19th biggest position. Whittier Trust Co.’s holdings in Eaton were worth $69,758,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Capital A Wealth Management LLC bought a new stake in shares of Eaton in the fourth quarter worth about $26,000. Flagship Wealth Advisors LLC bought a new stake in shares of Eaton in the fourth quarter worth about $27,000. Murphy & Mullick Capital Management Corp purchased a new stake in Eaton in the fourth quarter worth about $33,000. Vermillion Wealth Management Inc. purchased a new stake in Eaton in the fourth quarter worth about $33,000. Finally, Creative Financial Designs Inc. ADV lifted its holdings in Eaton by 102.0% in the first quarter. Creative Financial Designs Inc. ADV now owns 101 shares of the industrial products company’s stock worth $27,000 after buying an additional 51 shares during the period. 82.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the stock. Wall Street Zen upgraded shares of Eaton from a “hold” rating to a “buy” rating in a report on Saturday, July 5th. Morgan Stanley lowered their price objective on shares of Eaton from $385.00 to $375.00 and set an “overweight” rating for the company in a report on Tuesday, May 6th. Evercore ISI raised their price objective on shares of Eaton from $326.00 to $349.00 and gave the stock an “in-line” rating in a report on Monday, May 19th. BNP Paribas assumed coverage on shares of Eaton in a report on Thursday, May 15th. They issued an “outperform” rating and a $380.00 price objective for the company. Finally, 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 report on Friday, May 16th. Six investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, Eaton currently has an average rating of “Moderate Buy” and a consensus target price of $375.00.

Eaton Price Performance

Shares of NYSE ETN opened at $360.32 on Tuesday. Eaton Corporation, PLC has a twelve month low of $231.85 and a twelve month high of $379.99. The firm has a market cap of $140.99 billion, a P/E ratio of 36.36, a PEG ratio of 2.72 and a beta of 1.17. The company has a 50 day moving average of $333.96 and a 200 day moving average of $313.47. The company has a quick ratio of 0.84, a current ratio of 1.31 and a debt-to-equity ratio of 0.41.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Friday, May 2nd. The industrial products company reported $2.72 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $6.26 billion. During the same period in the previous year, the business earned $2.40 EPS. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. As a group, research analysts expect that Eaton Corporation, PLC will post 12.02 EPS for the current fiscal year.

Eaton Dividend Announcement

The business also recently announced 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. The ex-dividend date was Monday, May 5th. This represents a $4.16 dividend on an annualized basis and a yield of 1.15%. Eaton’s dividend payout ratio is presently 41.98%.

Insiders Place Their Bets

In other Eaton news, insider Michael Yelton sold 2,120 shares of the business’s stock in a transaction 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 completion of the sale, the insider directly owned 3,382 shares in the company, valued at approximately $1,004,014.34. The trade was a 38.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Craig Arnold sold 103,486 shares of the business’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $322.75, for a total transaction of $33,400,106.50. Following the sale, the insider owned 490,208 shares of the company’s stock, valued at approximately $158,214,632. This represents a 17.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 156,660 shares of company stock valued at $49,622,894. Company insiders own 0.30% of the company’s stock.

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.