Moody National Bank Trust Division Sells 191 Shares of Eaton Co. plc (NYSE:ETN)

Moody National Bank Trust Division lessened its holdings in shares of Eaton Co. plc (NYSE:ETN) by 3.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 5,416 shares of the industrial products company’s stock after selling 191 shares during the period. Moody National Bank Trust Division’s holdings in Eaton were worth $1,797,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ETN. B. Riley Wealth Advisors Inc. raised its holdings in Eaton by 48.9% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 41,106 shares of the industrial products company’s stock worth $13,533,000 after purchasing an additional 13,497 shares in the last quarter. Interval Partners LP lifted its holdings in Eaton by 82.7% in the second quarter. Interval Partners LP now owns 151,716 shares of the industrial products company’s stock worth $47,571,000 after buying an additional 68,693 shares during the period. Scientech Research LLC boosted its position in Eaton by 285.5% during the 2nd quarter. Scientech Research LLC now owns 5,744 shares of the industrial products company’s stock valued at $1,801,000 after acquiring an additional 4,254 shares in the last quarter. Neville Rodie & Shaw Inc. grew its holdings in shares of Eaton by 6.8% during the 4th quarter. Neville Rodie & Shaw Inc. now owns 38,386 shares of the industrial products company’s stock worth $12,739,000 after acquiring an additional 2,428 shares during the period. Finally, Wolverine Asset Management LLC bought a new position in shares of Eaton in the 3rd quarter worth approximately $1,160,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Activity

In related news, Director Gregory R. Page sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $335.30, for a total value of $1,341,200.00. Following the completion of the transaction, the director now owns 51,422 shares of the company’s stock, valued at $17,241,796.60. The trade was a 7.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Craig Arnold sold 61,569 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total value of $22,224,561.93. Following the sale, the insider now directly owns 506,360 shares in the company, valued at $182,780,769.20. This trade represents a 10.84 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 76,981 shares of company stock worth $27,660,117. Company insiders own 0.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. UBS Group began coverage on Eaton in a research report on Wednesday, November 13th. They set a “buy” rating and a $431.00 price objective for the company. Sanford C. Bernstein assumed coverage on shares of Eaton in a research note on Tuesday, November 5th. They set an “outperform” rating and a $382.00 target price for the company. Jefferies Financial Group upped their price target on Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Barclays lifted their price objective on Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Finally, Citigroup cut their target price on Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research note on Monday. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Eaton presently has a consensus rating of “Moderate Buy” and a consensus price target of $367.61.

Eaton Stock Performance

Eaton stock traded down $1.78 during midday trading on Monday, reaching $339.67. 1,591,830 shares of the company traded hands, compared to its average volume of 2,152,964. Eaton Co. plc has a 12 month low of $236.04 and a 12 month high of $379.99. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00. The business has a 50 day moving average of $355.14 and a two-hundred day moving average of $328.96. The firm has a market capitalization of $134.24 billion, a price-to-earnings ratio of 36.14, a price-to-earnings-growth ratio of 2.70 and a beta of 1.06.

Eaton (NYSE:ETN) last released its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. The firm had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The company’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period last year, the business posted $2.47 EPS. As a group, research analysts predict that Eaton Co. plc will post 10.8 earnings per share for the current year.

Eaton Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 4th were issued a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 1.11%. The ex-dividend date of this dividend was Monday, November 4th. Eaton’s dividend payout ratio is 40.00%.

About Eaton

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.