Farmers Trust Co. Reduces Position in Eaton Co. plc (NYSE:ETN)

Farmers Trust Co. reduced its stake in Eaton Co. plc (NYSE:ETN) by 3.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,384 shares of the industrial products company’s stock after selling 105 shares during the quarter. Farmers Trust Co.’s holdings in Eaton were worth $1,123,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Ausdal Financial Partners Inc. purchased a new stake in Eaton in the 2nd quarter valued at about $236,000. HCR Wealth Advisors acquired a new position in Eaton during the second quarter worth approximately $320,000. Prudential PLC raised its stake in Eaton by 297.6% during the second quarter. Prudential PLC now owns 21,812 shares of the industrial products company’s stock worth $6,839,000 after purchasing an additional 16,326 shares during the period. Clifford Swan Investment Counsel LLC boosted its holdings in shares of Eaton by 5.2% in the 2nd quarter. Clifford Swan Investment Counsel LLC now owns 8,122 shares of the industrial products company’s stock valued at $2,547,000 after purchasing an additional 400 shares during the last quarter. Finally, Choreo LLC grew its stake in shares of Eaton by 353.5% during the 2nd quarter. Choreo LLC now owns 17,749 shares of the industrial products company’s stock valued at $5,547,000 after buying an additional 13,835 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Stock Performance

Shares of ETN stock traded up $0.81 on Wednesday, hitting $344.72. 1,398,440 shares of the stock traded hands, compared to its average volume of 2,204,967. The company has a market capitalization of $136.23 billion, a PE ratio of 36.67, a PEG ratio of 2.74 and a beta of 1.06. Eaton Co. plc has a 1-year low of $235.67 and a 1-year high of $379.99. The company’s fifty day moving average is $354.69 and its 200 day moving average is $328.46. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.80 by $0.04. The business 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 business’s revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the business posted $2.47 EPS. On average, equities research analysts predict that Eaton Co. plc will post 10.8 earnings per share for the current fiscal year.

Eaton Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 4th were given a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 1.09%. The ex-dividend date was Monday, November 4th. Eaton’s dividend payout ratio is currently 40.00%.

Insider Buying and Selling at Eaton

In related news, Director Gregory R. Page sold 4,000 shares of the company’s stock in a transaction dated 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 sale, the director now owns 51,422 shares of the company’s stock, valued at $17,241,796.60. This represents a 7.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $378.58, for a total transaction of $534,554.96. Following the transaction, the insider now directly owns 31,200 shares in the company, valued at approximately $11,811,696. The trade was a 4.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 76,981 shares of company stock valued at $27,660,117 in the last quarter. Corporate insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

ETN has been the subject of several research analyst reports. 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. Mizuho increased their target price on shares of Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Wells Fargo & Company decreased their price objective on shares of Eaton from $365.00 to $350.00 and set an “equal weight” rating for the company in a research note on Tuesday. Sanford C. Bernstein initiated coverage on shares of Eaton in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 target price on the stock. Finally, UBS Group started coverage on shares of Eaton in a research report on Wednesday, November 13th. They set a “buy” rating and a $431.00 price target for the company. Four 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 stock has a consensus rating of “Moderate Buy” and an average price target of $369.28.

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.