Emprise Bank Has $1.57 Million Position in Eaton Co. plc (NYSE:ETN)

Emprise Bank lowered its holdings in Eaton Co. plc (NYSE:ETN) by 3.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,730 shares of the industrial products company’s stock after selling 183 shares during the quarter. Eaton comprises approximately 0.9% of Emprise Bank’s investment portfolio, making the stock its 25th largest holding. Emprise Bank’s holdings in Eaton were worth $1,570,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Westover Capital Advisors LLC purchased a new position in Eaton during the 2nd quarter worth $309,000. Parallel Advisors LLC boosted its holdings in Eaton by 4.9% during the 2nd quarter. Parallel Advisors LLC now owns 7,444 shares of the industrial products company’s stock worth $2,334,000 after acquiring an additional 347 shares during the last quarter. Prosperity Consulting Group LLC raised its stake in shares of Eaton by 11.3% during the 2nd quarter. Prosperity Consulting Group LLC now owns 2,221 shares of the industrial products company’s stock worth $696,000 after purchasing an additional 225 shares during the period. J.W. Cole Advisors Inc. raised its stake in shares of Eaton by 1.7% during the 2nd quarter. J.W. Cole Advisors Inc. now owns 2,053 shares of the industrial products company’s stock worth $644,000 after purchasing an additional 35 shares during the period. Finally, Lyell Wealth Management LP raised its stake in shares of Eaton by 6.8% during the 2nd quarter. Lyell Wealth Management LP now owns 1,107 shares of the industrial products company’s stock worth $347,000 after purchasing an additional 70 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Price Performance

Shares of NYSE ETN traded down $0.35 during midday trading on Monday, hitting $341.10. 991,718 shares of the company’s stock were exchanged, compared to its average volume of 2,057,271. Eaton Co. plc has a 12-month low of $236.04 and a 12-month high of $379.99. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. The company has a market cap of $134.80 billion, a price-to-earnings ratio of 36.29, a PEG ratio of 2.70 and a beta of 1.06. The business’s fifty day moving average price is $355.14 and its two-hundred day moving average price is $328.96.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, topping the consensus estimate of $2.80 by $0.04. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The company had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.37 billion. During the same quarter in the previous year, the firm earned $2.47 earnings per share. Eaton’s revenue was up 7.9% on a year-over-year basis. As a group, research analysts forecast that Eaton Co. plc will post 10.8 EPS for the current fiscal year.

Eaton Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 4th were paid a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 1.10%. The ex-dividend date was Monday, November 4th. Eaton’s dividend payout ratio is currently 40.00%.

Insiders Place Their Bets

In other Eaton news, Director Gregory R. Page sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $335.30, for a total value of $1,341,200.00. Following the completion of the sale, the director now owns 51,422 shares of the company’s stock, valued at $17,241,796.60. This represents a 7.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Craig Arnold sold 61,569 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total value of $22,224,561.93. Following the completion of the sale, the insider now directly owns 506,360 shares of the company’s stock, valued at approximately $182,780,769.20. This represents a 10.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 76,981 shares of company stock valued at $27,660,117 over the last quarter. 0.53% of the stock is owned by corporate insiders.

Analyst Ratings Changes

ETN has been the topic of a number of recent analyst reports. Sanford C. Bernstein initiated coverage on Eaton in a research note on Tuesday, November 5th. They set an “outperform” rating and a $382.00 target price on the stock. Jefferies Financial Group lifted their target price on Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Wells Fargo & Company lowered their price objective on Eaton from $365.00 to $350.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. Evercore ISI cut Eaton from an “outperform” rating to an “inline” rating and boosted their price objective for the company from $333.00 to $389.00 in a research note on Wednesday, November 13th. Finally, UBS Group initiated coverage on Eaton in a research note on Wednesday, November 13th. They issued a “buy” rating and a $431.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Eaton currently has a consensus rating of “Moderate Buy” and an average target price of $369.28.

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.