First Financial Bank Trust Division Reduces Holdings in Eaton Co. plc (NYSE:ETN)

First Financial Bank Trust Division lowered its stake in Eaton Co. plc (NYSE:ETN) by 2.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 41,629 shares of the industrial products company’s stock after selling 975 shares during the period. Eaton makes up approximately 1.3% of First Financial Bank Trust Division’s portfolio, making the stock its 20th largest position. First Financial Bank Trust Division’s holdings in Eaton were worth $13,815,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. Breakwater Investment Management lifted its position in shares of Eaton by 1,560.0% in the second quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 78 shares in the last quarter. Groupama Asset Managment lifted its holdings in 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 in the last quarter. LGT Financial Advisors LLC purchased a new stake in shares of Eaton during the second quarter worth about $33,000. Morse Asset Management Inc acquired a new position in shares of Eaton in the third quarter valued at approximately $33,000. Finally, West Financial Advisors LLC purchased a new position in shares of Eaton during the third quarter valued at approximately $35,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Stock Up 0.0 %

Eaton stock traded up $0.09 during trading on Thursday, reaching $331.96. 1,355,146 shares of the company’s stock were exchanged, compared to its average volume of 2,077,362. The company’s 50-day moving average is $354.97 and its two-hundred day moving average is $327.96. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53. Eaton Co. plc has a 52-week low of $231.84 and a 52-week high of $379.99. The firm has a market cap of $131.19 billion, a price-to-earnings ratio of 35.31, a PEG ratio of 2.74 and a beta of 1.03.

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

Eaton Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 4th were issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date was Monday, November 4th. Eaton’s payout ratio is 40.00%.

Wall Street Analyst Weigh In

ETN has been the subject of several recent analyst reports. Wells Fargo & Company lifted their target price on shares of Eaton from $315.00 to $342.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Wolfe Research upgraded Eaton from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Bank of America increased their target price on Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. UBS Group assumed coverage on Eaton in a report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 price target for the company. Finally, Morgan Stanley began coverage on shares of Eaton in a report on Friday, September 6th. They set an “overweight” rating and a $370.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Eaton currently has a consensus rating of “Moderate Buy” and an average price target of $367.83.

Insiders Place Their Bets

In other Eaton news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the stock in a transaction on 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 $11,811,696. This represents a 4.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gregory R. Page sold 4,000 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the completion of the sale, the director now directly owns 51,422 shares of the company’s stock, valued at $17,241,796.60. The trade was a 7.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 76,981 shares of company stock worth $27,660,117 in the last quarter. 0.53% of the stock is owned by corporate 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.