Fulton Bank N.A. Has $1.64 Million Holdings in Eaton Co. plc (NYSE:ETN)

Fulton Bank N.A. trimmed its stake in Eaton Co. plc (NYSE:ETN) by 21.6% during the second quarter, Holdings Channel reports. The fund owned 5,219 shares of the industrial products company’s stock after selling 1,437 shares during the quarter. Fulton Bank N.A.’s holdings in Eaton were worth $1,636,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in ETN. Tennessee Valley Asset Management Partners acquired a new position in Eaton during the 4th quarter worth $25,000. LifeSteps Financial Inc. acquired a new stake in shares of Eaton during the 1st quarter worth approximately $25,000. Atwood & Palmer Inc. lifted its position in Eaton by 142.9% in the first quarter. Atwood & Palmer Inc. now owns 85 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 50 shares during the period. Clear Investment Research LLC acquired a new stake in Eaton during the fourth quarter worth $29,000. Finally, Redmont Wealth Advisors LLC bought a new stake in Eaton in the 1st quarter valued at $33,000. 82.97% of the stock is owned by institutional investors.

Eaton Price Performance

Shares of Eaton stock traded up $5.13 during trading on Tuesday, reaching $277.65. The company’s stock had a trading volume of 3,304,711 shares, compared to its average volume of 2,171,169. The stock has a 50-day moving average price of $316.57 and a two-hundred day moving average price of $306.20. The company has a current ratio of 1.56, a quick ratio of 1.05 and a debt-to-equity ratio of 0.44. Eaton Co. plc has a one year low of $191.82 and a one year high of $345.19. The stock has a market capitalization of $111.00 billion, a P/E ratio of 32.78, a price-to-earnings-growth ratio of 2.47 and a beta of 1.02.

Eaton Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Monday, August 5th will be issued a $0.94 dividend. The ex-dividend date is Monday, August 5th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.35%. Eaton’s dividend payout ratio is 44.39%.

Wall Street Analyst Weigh In

ETN has been the subject of a number of analyst reports. Jefferies Financial Group raised their price objective on shares of Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Wells Fargo & Company decreased their price objective on Eaton from $320.00 to $315.00 and set an “equal weight” rating on the stock in a report on Friday. Royal Bank of Canada dropped their target price on Eaton from $376.00 to $371.00 and set an “outperform” rating for the company in a report on Friday. JPMorgan Chase & Co. boosted their price target on Eaton from $279.00 to $325.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Finally, Argus increased their price objective on Eaton from $290.00 to $350.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, Eaton currently has a consensus rating of “Moderate Buy” and an average price target of $326.53.

Insider Activity at Eaton

In related news, insider Peter Denk sold 2,416 shares of Eaton stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $331.84, for a total value of $801,725.44. Following the completion of the sale, the insider now directly owns 5,086 shares in the company, valued at $1,687,738.24. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.53% of the stock is currently owned by company insiders.

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.