CENTRAL TRUST Co Cuts Stake in Eaton Co. plc (NYSE:ETN)

CENTRAL TRUST Co decreased its position in Eaton Co. plc (NYSE:ETN) by 6.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,708 shares of the industrial products company’s stock after selling 1,064 shares during the period. CENTRAL TRUST Co’s holdings in Eaton were worth $5,206,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Strategic Wealth Partners Ltd. increased its position in shares of Eaton by 3.0% during the 3rd quarter. Strategic Wealth Partners Ltd. now owns 1,027 shares of the industrial products company’s stock valued at $340,000 after purchasing an additional 30 shares during the last quarter. Legacy Capital Group California Inc. boosted its stake in Eaton by 1.2% during the second quarter. Legacy Capital Group California Inc. now owns 2,776 shares of the industrial products company’s stock worth $870,000 after buying an additional 32 shares during the period. Well Done LLC raised its stake in shares of Eaton by 1.3% in the second quarter. Well Done LLC now owns 2,551 shares of the industrial products company’s stock valued at $800,000 after acquiring an additional 33 shares during the period. J.W. Cole Advisors Inc. lifted its holdings in shares of Eaton by 1.7% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 2,053 shares of the industrial products company’s stock worth $644,000 after acquiring an additional 35 shares during the last quarter. Finally, Front Row Advisors LLC boosted its stake in shares of Eaton by 0.4% during the 2nd quarter. Front Row Advisors LLC now owns 7,842 shares of the industrial products company’s stock worth $2,459,000 after purchasing an additional 35 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

Eaton Price Performance

ETN opened at $345.00 on Thursday. The firm has a market capitalization of $137.93 billion, a PE ratio of 40.73, a price-to-earnings-growth ratio of 2.58 and a beta of 1.02. The business’s 50-day moving average is $317.08 and its two-hundred day moving average is $317.12. Eaton Co. plc has a 1 year low of $193.77 and a 1 year high of $349.74. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.56 and a quick ratio of 1.07.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Thursday, August 1st. The industrial products company reported $2.73 EPS for the quarter, topping the consensus estimate of $2.61 by $0.12. The firm had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.35 billion. Eaton had a net margin of 15.12% and a return on equity of 21.45%. Research analysts anticipate that Eaton Co. plc will post 10.75 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Monday, November 4th will be given a $0.94 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.09%. Eaton’s payout ratio is 44.39%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Citigroup began coverage on shares of Eaton in a research note on Monday, September 16th. They issued a “buy” rating and a $348.00 price objective for the company. Barclays raised their price target on Eaton from $319.00 to $327.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 2nd. Evercore ISI reduced their target price on Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock 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. Finally, Morgan Stanley initiated coverage on shares of Eaton in a research note on Friday, September 6th. They issued an “overweight” rating and a $370.00 price target on the stock. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $340.06.

Insider Activity at Eaton

In other news, insider Taras G. Jr. Szmagala sold 335 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $288.72, for a total transaction of $96,721.20. Following the sale, the insider now owns 9,900 shares in the company, valued at approximately $2,858,328. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Taras G. Jr. Szmagala sold 335 shares of Eaton stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $288.72, for a total value of $96,721.20. Following the completion of the sale, the insider now directly owns 9,900 shares in the company, valued at $2,858,328. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Heath B. Monesmith sold 49,040 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $301.02, for a total transaction of $14,762,020.80. Following the transaction, the insider now owns 71,262 shares in the company, 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 have sold 52,511 shares of company stock valued at $15,809,326 in the last ninety days. Corporate insiders own 0.53% of the company’s stock.

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.