Eaton Corporation, PLC (NYSE:ETN) Stake Lifted by Whittier Trust Co. of Nevada Inc.

Whittier Trust Co. of Nevada Inc. increased its stake in shares of Eaton Corporation, PLC (NYSE:ETN) by 3.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 109,466 shares of the industrial products company’s stock after buying an additional 3,502 shares during the quarter. Eaton comprises approximately 0.8% of Whittier Trust Co. of Nevada Inc.’s holdings, making the stock its 26th largest position. Whittier Trust Co. of Nevada Inc.’s holdings in Eaton were worth $29,755,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its position in Eaton by 0.7% during the 1st quarter. GAMMA Investing LLC now owns 13,219 shares of the industrial products company’s stock worth $3,593,000 after acquiring an additional 96 shares during the period. Bearing Point Capital LLC acquired a new stake in shares of Eaton in the fourth quarter valued at $2,713,000. Brighton Jones LLC lifted its holdings in shares of Eaton by 4.9% in the first quarter. Brighton Jones LLC now owns 3,505 shares of the industrial products company’s stock valued at $953,000 after buying an additional 164 shares during the period. Kennebec Savings Bank lifted its holdings in shares of Eaton by 5.4% during the first quarter. Kennebec Savings Bank now owns 2,715 shares of the industrial products company’s stock valued at $738,000 after purchasing an additional 139 shares during the last quarter. Finally, American National Bank & Trust lifted its holdings in shares of Eaton by 5.4% during the first quarter. American National Bank & Trust now owns 3,145 shares of the industrial products company’s stock valued at $855,000 after purchasing an additional 162 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors.

Eaton Stock Performance

Shares of NYSE ETN opened at $360.32 on Tuesday. 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 firm has a market cap of $140.99 billion, a price-to-earnings ratio of 36.36, a P/E/G ratio of 2.72 and a beta of 1.17. The business’s 50-day simple moving average is $333.96 and its 200-day simple moving average is $313.47. Eaton Corporation, PLC has a 52 week low of $231.85 and a 52 week high of $379.99.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Friday, May 2nd. The industrial products company reported $2.72 EPS for the quarter, beating analysts’ consensus estimates of $2.70 by $0.02. The business had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.26 billion. Eaton had a return on equity of 23.41% and a net margin of 15.55%. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.40 EPS. As a group, equities research 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 announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend was Monday, May 5th. Eaton’s dividend payout ratio (DPR) is currently 41.98%.

Insider Buying and Selling

In other Eaton news, insider Michael Yelton sold 2,120 shares of the firm’s stock in a transaction that occurred 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 owned 3,382 shares of the company’s stock, valued at $1,004,014.34. This trade represents a 38.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Craig Arnold sold 103,486 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $322.75, for a total value of $33,400,106.50. Following the completion of the sale, the insider directly owned 490,208 shares in the company, valued at $158,214,632. This trade represents a 17.43% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 156,660 shares of company stock worth $49,622,894 in the last ninety days. Insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Morgan Stanley reduced their target price on Eaton from $385.00 to $375.00 and set an “overweight” rating for the company in a report on Tuesday, May 6th. BNP Paribas assumed coverage on Eaton in a report on Thursday, May 15th. They set an “outperform” rating and a $380.00 target price for the company. JPMorgan Chase & Co. upped their target price on Eaton from $300.00 to $360.00 and gave the company an “overweight” rating in a report on Friday, May 16th. Evercore ISI upped their price target 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, BNP Paribas Exane initiated coverage on Eaton in a research report on Thursday, May 15th. They set an “outperform” rating and a $380.00 price target on the stock. Six 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, Eaton presently has an average rating of “Moderate Buy” and a consensus target price of $375.00.

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.