Atlantic Union Bankshares Corp Has $9.69 Million Position in Eaton Co. plc (NYSE:ETN)

Atlantic Union Bankshares Corp cut its position in Eaton Co. plc (NYSE:ETN) by 1.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 29,228 shares of the industrial products company’s stock after selling 548 shares during the period. Atlantic Union Bankshares Corp’s holdings in Eaton were worth $9,687,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. LRI Investments LLC acquired a new stake in shares of Eaton during the first quarter worth about $66,000. Cetera Investment Advisers lifted its position in Eaton by 684.9% during the 1st quarter. Cetera Investment Advisers now owns 156,299 shares of the industrial products company’s stock worth $48,872,000 after buying an additional 136,387 shares in the last quarter. Cetera Advisors LLC boosted its stake in shares of Eaton by 11.1% during the 1st quarter. Cetera Advisors LLC now owns 51,794 shares of the industrial products company’s stock worth $16,195,000 after buying an additional 5,171 shares during the last quarter. Soltis Investment Advisors LLC increased its position in shares of Eaton by 6.6% in the first quarter. Soltis Investment Advisors LLC now owns 1,941 shares of the industrial products company’s stock valued at $607,000 after acquiring an additional 121 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in Eaton by 14.7% during the first quarter. EverSource Wealth Advisors LLC now owns 1,230 shares of the industrial products company’s stock worth $392,000 after acquiring an additional 158 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

Eaton Trading Down 1.4 %

Shares of ETN stock opened at $371.98 on Friday. The stock has a 50 day simple moving average of $347.47 and a 200 day simple moving average of $324.22. Eaton Co. plc has a 1 year low of $224.52 and a 1 year high of $379.99. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. The stock has a market cap of $147.01 billion, a P/E ratio of 39.57, a price-to-earnings-growth ratio of 2.82 and a beta of 1.01.

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, topping analysts’ consensus estimates of $2.80 by $0.04. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The firm had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.37 billion. During the same period in the prior year, the company posted $2.47 earnings per share. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. On average, research analysts predict that Eaton Co. plc will post 10.8 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 4th were paid a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 1.01%. The ex-dividend date was Monday, November 4th. Eaton’s dividend payout ratio (DPR) is presently 40.00%.

Insider Buying and Selling at Eaton

In other news, insider Craig Arnold sold 61,569 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total value of $22,224,561.93. Following the completion of the transaction, the insider now owns 506,360 shares of the company’s stock, valued at $182,780,769.20. This represents a 10.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of Eaton stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $378.58, for a total transaction of $534,554.96. Following the sale, the insider now owns 31,200 shares in the company, valued at approximately $11,811,696. This represents a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,981 shares of company stock worth $24,100,317 over the last 90 days. Insiders own 0.53% of the company’s stock.

Analysts Set New Price Targets

ETN has been the topic of several recent analyst reports. UBS Group began coverage on Eaton in a research report on Wednesday, November 13th. They set a “buy” rating and a $431.00 price target on the stock. Wolfe Research upgraded shares of Eaton from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Bank of America lifted their price objective on shares of Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Barclays dropped their target price on shares of Eaton from $327.00 to $320.00 and set an “equal weight” rating on the stock in a report on Friday, November 1st. Finally, Evercore ISI downgraded Eaton from an “outperform” rating to an “inline” rating and lifted their target price for the stock from $333.00 to $389.00 in a research note on Wednesday, November 13th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $357.83.

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.