Webster Bank N. A. Raises Stock Holdings in Eaton Co. plc (NYSE:ETN)

Webster Bank N. A. lifted its holdings in Eaton Co. plc (NYSE:ETN) by 4.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,442 shares of the industrial products company’s stock after buying an additional 549 shares during the quarter. Webster Bank N. A.’s holdings in Eaton were worth $3,890,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of ETN. Fragasso Group Inc. grew its position in shares of Eaton by 3.6% during the 1st quarter. Fragasso Group Inc. now owns 1,032 shares of the industrial products company’s stock valued at $323,000 after acquiring an additional 36 shares during the period. FinTrust Capital Advisors LLC boosted its holdings in Eaton by 2.6% in the 4th quarter. FinTrust Capital Advisors LLC now owns 1,481 shares of the industrial products company’s stock worth $357,000 after buying an additional 37 shares during the last quarter. Meeder Asset Management Inc. boosted its holdings in Eaton by 3.3% in the 4th quarter. Meeder Asset Management Inc. now owns 1,315 shares of the industrial products company’s stock worth $317,000 after buying an additional 42 shares during the last quarter. Telemus Capital LLC boosted its holdings in Eaton by 1.0% in the 4th quarter. Telemus Capital LLC now owns 4,111 shares of the industrial products company’s stock worth $990,000 after buying an additional 42 shares during the last quarter. Finally, Amarillo National Bank boosted its holdings in Eaton by 3.5% in the 4th quarter. Amarillo National Bank now owns 1,270 shares of the industrial products company’s stock worth $306,000 after buying an additional 43 shares during the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Eaton Stock Down 0.1 %

Shares of ETN stock traded down $0.39 on Friday, reaching $313.55. 2,557,711 shares of the stock were exchanged, compared to its average volume of 2,258,211. The company has a current ratio of 1.56, a quick ratio of 1.05 and a debt-to-equity ratio of 0.42. The business’s 50 day moving average price is $325.35 and its 200 day moving average price is $292.34. The company has a market capitalization of $125.36 billion, a price-to-earnings ratio of 37.02, a PEG ratio of 2.63 and a beta of 1.04. Eaton Co. plc has a twelve month low of $191.82 and a twelve month high of $345.19.

Eaton (NYSE:ETN) last issued its earnings results on Tuesday, April 30th. The industrial products company reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.28 by $0.12. The firm had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.91 billion. Eaton had a net margin of 14.38% and a return on equity of 20.69%. The company’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.88 earnings per share. As a group, sell-side analysts expect that Eaton Co. plc will post 10.56 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Monday, May 6th were paid a dividend of $0.94 per share. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.20%. Eaton’s payout ratio is currently 44.39%.

Insider Buying and Selling at Eaton

In other Eaton news, insider Peter Denk sold 2,416 shares of the company’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $331.84, for a total value of $801,725.44. Following the completion of the transaction, the insider now owns 5,086 shares in the company, valued at $1,687,738.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.53% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Wolfe Research reiterated an “underperform” rating and issued a $312.00 price objective on shares of Eaton in a report on Monday, April 8th. Bank of America boosted their target price on Eaton from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, March 18th. JPMorgan Chase & Co. boosted their target price on Eaton from $279.00 to $325.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Berenberg Bank boosted their target price on Eaton from $200.00 to $345.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Finally, Barclays upgraded Eaton from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $250.00 to $300.00 in a report on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Eaton has an average rating of “Moderate Buy” and a consensus target price of $318.06.

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.