Trust Co. of Toledo NA OH Grows Stock Holdings in Eaton Co. plc (NYSE:ETN)

Trust Co. of Toledo NA OH raised its position in Eaton Co. plc (NYSE:ETN) by 2.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,355 shares of the industrial products company’s stock after buying an additional 410 shares during the period. Trust Co. of Toledo NA OH’s holdings in Eaton were worth $5,428,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Breakwater Investment Management lifted its stake in Eaton by 1,560.0% during the second quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 78 shares in the last quarter. Groupama Asset Managment lifted its holdings in shares of Eaton by 83.2% in the 3rd quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 4,298 shares during the last quarter. Morse Asset Management Inc purchased a new position in shares of Eaton during the third quarter worth approximately $33,000. West Financial Advisors LLC acquired a new position in Eaton in the third quarter valued at $35,000. Finally, DT Investment Partners LLC acquired a new stake in Eaton during the 3rd quarter worth approximately $37,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Activity at Eaton

In other Eaton news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the business’s 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 $11,811,696. The trade was a 4.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Craig Arnold sold 61,569 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 506,360 shares in the company, valued at $182,780,769.20. This trade represents a 10.84 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 76,981 shares of company stock worth $27,660,117. 0.53% of the stock is owned by corporate insiders.

Eaton Stock Performance

NYSE:ETN traded down $1.18 during trading hours on Monday, reaching $340.27. The company had a trading volume of 665,094 shares, compared to its average volume of 2,016,732. The firm’s 50 day moving average price is $355.14 and its 200-day moving average price is $328.96. The firm has a market cap of $134.47 billion, a price-to-earnings ratio of 36.20, a PEG ratio of 2.70 and a beta of 1.06. 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 52 week low of $236.04 and a 52 week high of $379.99.

Eaton (NYSE:ETN) last announced its 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 net margin of 15.32% and a return on equity of 21.97%. The company had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.37 billion. During the same period in the previous year, the business posted $2.47 earnings per share. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. On average, analysts forecast that Eaton Co. plc will post 10.8 EPS for the current year.

Eaton Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 4th were given a dividend of $0.94 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $3.76 annualized dividend and a dividend yield of 1.11%. Eaton’s payout ratio is 40.00%.

Analyst Ratings Changes

Several analysts have recently commented on the company. Jefferies Financial Group raised their price target on Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a report on Friday, December 6th. Sanford C. Bernstein assumed coverage on Eaton in a report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 target price on the stock. Wells Fargo & Company cut their price target on Eaton from $365.00 to $350.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Evercore ISI downgraded shares of Eaton from an “outperform” rating to an “inline” rating and boosted their price objective for the stock from $333.00 to $389.00 in a research note on Wednesday, November 13th. Finally, Mizuho upped their price target on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.