Eaton Co. plc (NYSE:ETN) Shares Sold by Massmutual Trust Co. FSB ADV

Massmutual Trust Co. FSB ADV lessened its stake in shares of Eaton Co. plc (NYSE:ETN) by 4.7% in the second quarter, according to its most recent filing with the SEC. The fund owned 21,680 shares of the industrial products company’s stock after selling 1,071 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in Eaton were worth $6,798,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Tennessee Valley Asset Management Partners acquired a new position in Eaton during the fourth quarter worth $25,000. LifeSteps Financial Inc. acquired a new position in Eaton during the first quarter worth $25,000. Atwood & Palmer Inc. increased its position in Eaton by 142.9% during the first quarter. Atwood & Palmer Inc. now owns 85 shares of the industrial products company’s stock worth $27,000 after buying an additional 50 shares during the last quarter. Clear Investment Research LLC bought a new stake in Eaton during the fourth quarter valued at about $29,000. Finally, Redmont Wealth Advisors LLC bought a new stake in Eaton during the first quarter valued at about $33,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Stock Down 2.7 %

ETN stock traded down $7.60 during midday trading on Monday, hitting $272.66. The company’s stock had a trading volume of 4,620,586 shares, compared to its average volume of 2,164,222. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.56 and a quick ratio of 1.05. Eaton Co. plc has a twelve month low of $191.82 and a twelve month high of $345.19. The company’s fifty day moving average price is $317.93 and its 200 day moving average price is $305.97. The stock has a market capitalization of $109.01 billion, a P/E ratio of 32.17, a PEG ratio of 2.47 and a beta of 1.02.

Eaton Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Monday, August 5th will be paid a dividend of $0.94 per share. The ex-dividend date of this dividend is Monday, August 5th. This represents a $3.76 annualized dividend and a dividend yield of 1.38%. Eaton’s dividend payout ratio is presently 44.39%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ETN. Wells Fargo & Company dropped their price target on shares of Eaton from $320.00 to $315.00 and set an “equal weight” rating for the company in a research report on Friday. Mizuho reissued a “buy” rating and issued a $355.00 price target (up previously from $340.00) on shares of Eaton in a report on Wednesday, May 1st. Barclays raised their price target on shares of Eaton from $318.00 to $319.00 and gave the company an “equal weight” rating in a report on Friday. JPMorgan Chase & Co. raised their price objective on shares of Eaton from $279.00 to $325.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Finally, Royal Bank of Canada reduced their price objective on shares of Eaton from $376.00 to $371.00 and set an “outperform” rating on the stock in a research note on Friday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $326.53.

Insider Transactions at Eaton

In related news, insider Peter Denk sold 2,416 shares of Eaton stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $331.84, for a total transaction of $801,725.44. Following the completion of the sale, the insider now owns 5,086 shares of the company’s stock, valued at approximately $1,687,738.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.53% of the stock is owned by company 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.