Perkins Coie Trust Co Sells 428 Shares of Eaton Co. plc (NYSE:ETN)

Perkins Coie Trust Co reduced its stake in Eaton Co. plc (NYSE:ETN) by 1.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 30,437 shares of the industrial products company’s stock after selling 428 shares during the quarter. Eaton makes up 2.2% of Perkins Coie Trust Co’s investment portfolio, making the stock its 9th largest holding. Perkins Coie Trust Co’s holdings in Eaton were worth $10,101,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Horizon Bancorp Inc. IN grew its position in shares of Eaton by 321.7% in the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 74 shares during the last quarter. Morse Asset Management Inc bought a new stake in Eaton during the 3rd quarter valued at approximately $33,000. West Financial Advisors LLC acquired a new stake in Eaton in the 3rd quarter valued at approximately $35,000. DT Investment Partners LLC bought a new position in Eaton in the 3rd quarter worth approximately $37,000. Finally, RPg Family Wealth Advisory LLC acquired a new position in shares of Eaton during the third quarter worth approximately $44,000. Institutional investors own 82.97% of the company’s stock.

Eaton Price Performance

Shares of Eaton stock opened at $346.54 on Friday. The stock has a market capitalization of $136.95 billion, a price-to-earnings ratio of 36.87, a P/E/G ratio of 2.27 and a beta of 1.06. The firm’s 50-day moving average price is $354.32 and its two-hundred day moving average price is $329.77. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. Eaton Co. plc has a 1-year low of $236.20 and a 1-year high of $379.99.

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

Eaton Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 4th were issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date of this dividend was Monday, November 4th. Eaton’s dividend payout ratio is currently 40.00%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Evercore ISI downgraded shares of Eaton from an “outperform” rating to an “inline” rating and raised their price objective for the stock from $333.00 to $389.00 in a research note on Wednesday, November 13th. Bank of America raised their price target on shares of Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Jefferies Financial Group upped their price objective on shares of Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Barclays lifted their target price on Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Finally, Royal Bank of Canada upped their price target on Eaton from $374.00 to $392.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. 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 company has an average rating of “Moderate Buy” and a consensus target price of $368.89.

Insider Buying and Selling at Eaton

In other Eaton news, Director Gregory R. Page sold 4,000 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $335.30, for a total value of $1,341,200.00. Following the transaction, the director now directly owns 51,422 shares in the company, valued at approximately $17,241,796.60. This trade represents a 7.22 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Craig Arnold sold 61,569 shares of the business’s stock in a transaction 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 sale, the insider now owns 506,360 shares of the company’s stock, valued at approximately $182,780,769.20. The trade was a 10.84 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 76,981 shares of company stock worth $27,660,117. 0.33% of the stock is currently owned by corporate insiders.

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.