Emprise Bank Sells 183 Shares of Eaton Co. plc (NYSE:ETN)

Emprise Bank reduced its position in shares of Eaton Co. plc (NYSE:ETN) by 3.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,730 shares of the industrial products company’s stock after selling 183 shares during the quarter. Eaton accounts for approximately 0.9% of Emprise Bank’s investment portfolio, making the stock its 25th biggest holding. Emprise Bank’s holdings in Eaton were worth $1,570,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kieckhefer Group LLC bought a new position in shares of Eaton in the fourth quarter valued at about $66,000. Brookstone Capital Management grew its stake in shares of Eaton by 2.0% in the fourth quarter. Brookstone Capital Management now owns 2,820 shares of the industrial products company’s stock valued at $936,000 after acquiring an additional 54 shares in the last quarter. Trust Co. of Toledo NA OH grew its stake in shares of Eaton by 2.6% in the fourth quarter. Trust Co. of Toledo NA OH now owns 16,355 shares of the industrial products company’s stock valued at $5,428,000 after acquiring an additional 410 shares in the last quarter. Fiduciary Alliance LLC grew its stake in shares of Eaton by 0.7% in the fourth quarter. Fiduciary Alliance LLC now owns 29,649 shares of the industrial products company’s stock valued at $9,839,000 after acquiring an additional 200 shares in the last quarter. Finally, Aprio Wealth Management LLC grew its stake in shares of Eaton by 5.7% in the fourth quarter. Aprio Wealth Management LLC now owns 721 shares of the industrial products company’s stock valued at $239,000 after acquiring an additional 39 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Craig Arnold sold 61,569 shares of the firm’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 transaction of $22,224,561.93. Following the completion of the sale, the insider now owns 506,360 shares of the company’s stock, valued at $182,780,769.20. This trade represents a 10.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Gregory R. Page sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the sale, the director now directly owns 43,203 shares of the company’s stock, valued at approximately $15,379,403.94. This trade represents a 18.80 % 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. 0.53% of the stock is currently owned by insiders.

Eaton Trading Down 0.1 %

NYSE ETN traded down $0.35 during trading hours on Monday, reaching $341.10. The company’s stock had a trading volume of 991,718 shares, compared to its average volume of 2,057,271. The firm has a fifty day simple moving average of $355.14 and a 200-day simple moving average of $328.96. The stock has a market cap of $134.80 billion, a P/E ratio of 36.29, a P/E/G ratio of 2.70 and a beta of 1.06. Eaton Co. plc has a 52 week low of $236.04 and a 52 week high of $379.99. 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 released 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. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The firm had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.37 billion. During the same quarter last year, the business earned $2.47 EPS. The company’s revenue was up 7.9% compared to the same quarter last year. Equities analysts forecast that Eaton Co. plc will post 10.8 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The company also recently declared 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. The ex-dividend date was Monday, November 4th. This represents a $3.76 annualized dividend and a yield of 1.10%. Eaton’s payout ratio is 40.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on ETN shares. Barclays increased their price objective on shares of Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Sanford C. Bernstein started coverage on shares of Eaton in a research note on Tuesday, November 5th. They set an “outperform” rating and a $382.00 price objective on the stock. Jefferies Financial Group increased their price objective on shares of Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Bank of America increased their price objective on shares of Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, Mizuho increased their price objective on shares of Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $369.28.

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.