Arlington Trust Co LLC Acquires 39 Shares of Eaton Co. plc (NYSE:ETN)

Arlington Trust Co LLC grew its holdings in shares of Eaton Co. plc (NYSE:ETN) by 17.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 258 shares of the industrial products company’s stock after acquiring an additional 39 shares during the period. Arlington Trust Co LLC’s holdings in Eaton were worth $86,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of ETN. Breakwater Investment Management raised its stake in Eaton by 1,560.0% during the second quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock worth $26,000 after buying an additional 78 shares during the last quarter. Proffitt & Goodson Inc. bought a new position in Eaton during the second quarter worth $29,000. LGT Financial Advisors LLC bought a new position in Eaton during the second quarter worth $33,000. West Financial Advisors LLC bought a new position in Eaton during the third quarter worth $35,000. Finally, DiNuzzo Private Wealth Inc. bought a new stake in Eaton in the second quarter valued at $37,000. Institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling at Eaton

In other Eaton news, insider Michael Yelton sold 3,136 shares of Eaton stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $303.12, for a total transaction of $950,584.32. Following the completion of the transaction, the insider now owns 3,914 shares of the company’s stock, valued at $1,186,411.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Eaton news, insider Michael Yelton sold 3,136 shares of Eaton stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $303.12, for a total transaction of $950,584.32. Following the completion of the transaction, the insider now owns 3,914 shares of the company’s stock, valued at $1,186,411.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Heath B. Monesmith sold 49,040 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $301.02, for a total value of $14,762,020.80. Following the transaction, the insider now directly owns 71,262 shares of the company’s stock, valued at $21,451,287.24. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 52,511 shares of company stock valued at $15,809,326 in the last quarter. 0.53% of the stock is currently owned by corporate insiders.

Eaton Stock Performance

Eaton stock traded up $3.42 during midday trading on Friday, reaching $335.00. The stock had a trading volume of 2,369,253 shares, compared to its average volume of 2,106,960. Eaton Co. plc has a 12 month low of $211.99 and a 12 month high of $349.74. The firm’s 50-day moving average price is $323.09 and its 200 day moving average price is $318.29. The firm has a market capitalization of $133.36 billion, a PE ratio of 36.85, a P/E/G ratio of 2.62 and a beta of 1.02. The company has a quick ratio of 1.07, a current ratio of 1.56 and a debt-to-equity ratio of 0.44.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.80 by $0.04. Eaton had a return on equity of 21.45% and a net margin of 15.12%. The business had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.37 billion. During the same period in the previous year, the business posted $2.47 EPS. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. As a group, research analysts predict that Eaton Co. plc will post 10.75 earnings per share for the current fiscal year.

Eaton Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date of this dividend is Monday, November 4th. Eaton’s payout ratio is presently 41.36%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Evercore ISI decreased their price target on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. Wolfe Research raised shares of Eaton from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Raymond James reduced their price objective on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a report on Monday, September 9th. Mizuho lifted their price objective on shares of Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a report on Friday. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $374.00 price objective on shares of Eaton in a report on Friday. 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, the stock has an average rating of “Moderate Buy” and a consensus price target of $341.00.

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.