Pinnacle Bancorp Inc. Buys 103 Shares of Eaton Co. plc (NYSE:ETN)

Pinnacle Bancorp Inc. boosted its stake in Eaton Co. plc (NYSE:ETN) by 18.9% during the 4th quarter, HoldingsChannel reports. The fund owned 647 shares of the industrial products company’s stock after acquiring an additional 103 shares during the quarter. Pinnacle Bancorp Inc.’s holdings in Eaton were worth $215,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Edgestream Partners L.P. raised its position in Eaton by 98.5% in the 2nd quarter. Edgestream Partners L.P. now owns 1,989 shares of the industrial products company’s stock valued at $624,000 after buying an additional 987 shares during the last quarter. Bradley Foster & Sargent Inc. CT raised its holdings in shares of Eaton by 81.8% in the second quarter. Bradley Foster & Sargent Inc. CT now owns 16,686 shares of the industrial products company’s stock valued at $5,232,000 after purchasing an additional 7,510 shares during the last quarter. SYSTM Wealth Solutions LLC lifted its position in shares of Eaton by 97.5% in the second quarter. SYSTM Wealth Solutions LLC now owns 2,246 shares of the industrial products company’s stock worth $704,000 after purchasing an additional 1,109 shares in the last quarter. Blair William & Co. IL boosted its holdings in Eaton by 5.1% during the second quarter. Blair William & Co. IL now owns 61,673 shares of the industrial products company’s stock worth $19,338,000 after purchasing an additional 2,999 shares during the last quarter. Finally, Hsbc Holdings PLC increased its stake in Eaton by 4.9% in the 2nd quarter. Hsbc Holdings PLC now owns 393,020 shares of the industrial products company’s stock valued at $123,596,000 after buying an additional 18,204 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Eaton Stock Performance

NYSE:ETN opened at $345.02 on Friday. Eaton Co. plc has a twelve month low of $236.04 and a twelve month high of $379.99. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. The stock’s 50-day simple moving average is $355.04 and its 200 day simple moving average is $329.43. The firm has a market capitalization of $136.35 billion, a PE ratio of 36.70, a price-to-earnings-growth ratio of 2.27 and a beta of 1.06.

Eaton (NYSE:ETN) last announced its quarterly 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 for the quarter, compared to analyst estimates of $6.37 billion. During the same period in the previous year, the firm posted $2.47 EPS. The firm’s revenue was up 7.9% on a year-over-year basis. On average, analysts anticipate 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 given a $0.94 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $3.76 annualized dividend and a yield of 1.09%. Eaton’s dividend payout ratio is presently 40.00%.

Insider Activity

In other news, Director Gregory R. Page sold 10,000 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the completion of the transaction, the director now directly owns 43,203 shares in the company, valued at $15,379,403.94. This trade represents a 18.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Craig Arnold sold 61,569 shares of Eaton 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 transaction, the insider now directly owns 506,360 shares in the company, valued at approximately $182,780,769.20. This represents a 10.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 76,981 shares of company stock valued at $27,660,117. 0.33% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ETN shares. Sanford C. Bernstein started coverage on Eaton in a research report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 target price on the stock. JPMorgan Chase & Co. lowered their price target on Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research report on Wednesday. Wells Fargo & Company dropped their target price on shares of Eaton from $365.00 to $350.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Jefferies Financial Group lifted their price target on Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Finally, Evercore ISI lowered Eaton from an “outperform” rating to an “inline” rating and upped their price objective for the company from $333.00 to $389.00 in a research note on Wednesday, November 13th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $368.89.

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.