Webster Bank N. A. Has $3.90 Million Stake in Eaton Co. plc (NYSE:ETN)

Webster Bank N. A. decreased its stake in Eaton Co. plc (NYSE:ETN) by 6.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,759 shares of the industrial products company’s stock after selling 816 shares during the quarter. Webster Bank N. A.’s holdings in Eaton were worth $3,897,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Sound Income Strategies LLC raised its position in shares of Eaton by 62.9% during the third quarter. Sound Income Strategies LLC now owns 697 shares of the industrial products company’s stock worth $231,000 after acquiring an additional 269 shares during the last quarter. Gilman Hill Asset Management LLC increased its holdings in Eaton by 254.8% in the third quarter. Gilman Hill Asset Management LLC now owns 3,481 shares of the industrial products company’s stock valued at $1,154,000 after purchasing an additional 2,500 shares during the last quarter. Bright Financial Advisors Inc. increased its holdings in Eaton by 1.7% in the third quarter. Bright Financial Advisors Inc. now owns 12,141 shares of the industrial products company’s stock valued at $4,024,000 after purchasing an additional 198 shares during the last quarter. Darrow Company Inc. bought a new stake in Eaton in the third quarter valued at about $224,000. Finally, Ayrshire Capital Management LLC increased its holdings in Eaton by 24.7% in the third quarter. Ayrshire Capital Management LLC now owns 20,270 shares of the industrial products company’s stock valued at $6,718,000 after purchasing an additional 4,012 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Stock Up 1.3 %

Eaton stock traded up $4.45 during midday trading on Friday, reaching $341.39. The stock had a trading volume of 1,162,053 shares, compared to its average volume of 2,135,704. Eaton Co. plc has a 12 month low of $191.82 and a 12 month high of $345.19. The company has a market capitalization of $135.91 billion, a P/E ratio of 37.56, a PEG ratio of 2.58 and a beta of 1.02. The company has a fifty day moving average price of $307.72 and a two-hundred day moving average price of $315.60. The company has a current ratio of 1.56, a quick ratio of 1.07 and a debt-to-equity ratio of 0.44.

Eaton (NYSE:ETN) last issued its earnings results on Thursday, August 1st. The industrial products company reported $2.73 EPS for the quarter, beating analysts’ consensus estimates of $2.61 by $0.12. Eaton had a return on equity of 21.45% and a net margin of 15.12%. The business had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.35 billion. As a group, equities analysts expect that Eaton Co. plc will post 10.75 EPS for the current fiscal year.

Eaton Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were paid a dividend of $0.94 per share. The ex-dividend date was Monday, August 5th. This represents a $3.76 dividend on an annualized basis and a yield of 1.10%. Eaton’s dividend payout ratio (DPR) is currently 41.36%.

Insider Buying and Selling at Eaton

In other Eaton news, Director Dorothy C. Thompson bought 2,205 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were purchased at an average price of $300.30 per share, for a total transaction of $662,161.50. Following the purchase, the director now directly owns 2,205 shares of the company’s stock, valued at approximately $662,161.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Dorothy C. Thompson acquired 2,205 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average price of $300.30 per share, for a total transaction of $662,161.50. Following the completion of the purchase, the director now owns 2,205 shares in the company, valued at approximately $662,161.50. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Michael Yelton sold 3,136 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $303.12, for a total value of $950,584.32. Following the completion of the transaction, the insider now owns 3,914 shares in the company, valued at approximately $1,186,411.68. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,511 shares of company stock worth $15,809,326. Insiders own 0.53% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Citigroup assumed coverage on Eaton in a research report on Monday, September 16th. They set a “buy” rating and a $348.00 price objective for the company. Jefferies Financial Group increased their price target on Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Royal Bank of Canada reduced their price target on Eaton from $376.00 to $371.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Evercore ISI reduced their price target on Eaton from $357.00 to $333.00 and set an “outperform” rating for the company in a research report on Monday, August 19th. Finally, Wells Fargo & Company upped their price objective on Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Eaton presently has an average rating of “Moderate Buy” and an average price target of $339.47.

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.