Eaton Co. plc (NYSE:ETN) Shares Purchased by Essex Savings Bank

Essex Savings Bank lifted its position in Eaton Co. plc (NYSE:ETN) by 16.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,928 shares of the industrial products company’s stock after acquiring an additional 541 shares during the quarter. Essex Savings Bank’s holdings in Eaton were worth $1,304,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. BluePath Capital Management LLC raised its stake in Eaton by 17.4% during the fourth quarter. BluePath Capital Management LLC now owns 3,469 shares of the industrial products company’s stock worth $1,182,000 after acquiring an additional 514 shares during the period. HCR Wealth Advisors increased its holdings in shares of Eaton by 17.9% in the 4th quarter. HCR Wealth Advisors now owns 1,723 shares of the industrial products company’s stock worth $572,000 after acquiring an additional 262 shares during the period. Pinnacle Bancorp Inc. grew its position in Eaton by 18.9% in the 4th quarter. Pinnacle Bancorp Inc. now owns 647 shares of the industrial products company’s stock worth $215,000 after purchasing an additional 103 shares during the last quarter. Armstrong Advisory Group Inc. increased its stake in shares of Eaton by 18.4% in the fourth quarter. Armstrong Advisory Group Inc. now owns 257 shares of the industrial products company’s stock valued at $85,000 after purchasing an additional 40 shares during the period. Finally, ARS Wealth Advisors Group LLC raised its holdings in shares of Eaton by 8.9% during the fourth quarter. ARS Wealth Advisors Group LLC now owns 1,425 shares of the industrial products company’s stock valued at $473,000 after buying an additional 117 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors.

Insider Transactions at Eaton

In other Eaton news, 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 directly owns 31,200 shares of the company’s stock, valued at approximately $11,811,696. The trade was a 4.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Craig Arnold sold 61,569 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 506,360 shares in the company, valued at approximately $182,780,769.20. This represents a 10.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 76,981 shares of company stock worth $27,660,117. 0.33% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

ETN has been the topic of several analyst reports. Bank of America raised their target price on Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Citigroup cut their price objective on shares of Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research note on Monday. Royal Bank of Canada increased their target price on shares of Eaton from $374.00 to $392.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. UBS Group assumed coverage on shares of Eaton in a research report on Wednesday, November 13th. They set a “buy” rating and a $431.00 price target on the stock. Finally, Evercore ISI lowered shares of Eaton from an “outperform” rating to an “inline” rating and raised their price objective for the company from $333.00 to $389.00 in a research note on Wednesday, November 13th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $368.89.

Eaton Price Performance

NYSE ETN opened at $342.35 on Thursday. The company has a market cap of $135.30 billion, a P/E ratio of 36.42, a P/E/G ratio of 2.27 and a beta of 1.06. Eaton Co. plc has a 1 year low of $236.04 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 company has a fifty day simple moving average of $355.38 and a 200 day simple moving average of $329.33.

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

Eaton Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date of this dividend was Monday, November 4th. Eaton’s dividend payout ratio (DPR) is presently 40.00%.

Eaton Company 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.