Stock Yards Bank & Trust Co. Has $7.56 Million Stock Position in Eaton Co. plc (NYSE:ETN)

Stock Yards Bank & Trust Co. lessened its holdings in shares of Eaton Co. plc (NYSE:ETN) by 10.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,785 shares of the industrial products company’s stock after selling 2,613 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Eaton were worth $7,562,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of ETN. Groupama Asset Managment raised its stake 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 acquiring an additional 4,298 shares during the period. Horizon Bancorp Inc. IN increased its holdings in shares of Eaton by 321.7% in the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 74 shares during the last quarter. Morse Asset Management Inc bought a new position in shares of Eaton in the third quarter valued at about $33,000. West Financial Advisors LLC acquired a new stake in shares of Eaton during the 3rd quarter worth about $35,000. Finally, DT Investment Partners LLC bought a new stake in shares of Eaton during the 3rd quarter worth about $37,000. Institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on ETN shares. Melius Research restated a “hold” rating and set a $373.00 price objective on shares of Eaton in a research report on Tuesday, January 28th. Sanford C. Bernstein assumed coverage on Eaton in a report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 price target for the company. JPMorgan Chase & Co. decreased their price objective on Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. UBS Group began coverage on Eaton in a report on Wednesday, November 13th. They set a “buy” rating and a $431.00 target price for the company. Finally, Evercore ISI downgraded shares of Eaton from an “outperform” rating to an “inline” rating and upped their price target for the company from $333.00 to $389.00 in a research note on Wednesday, November 13th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Eaton has a consensus rating of “Moderate Buy” and an average price target of $369.30.

Eaton Trading Down 0.2 %

Shares of ETN opened at $326.32 on Monday. Eaton Co. plc has a 52-week low of $245.65 and a 52-week high of $379.99. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53. The business’s fifty day moving average is $349.23 and its 200-day moving average is $331.07. The firm has a market cap of $128.96 billion, a price-to-earnings ratio of 34.72, a PEG ratio of 2.21 and a beta of 1.06.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, beating analysts’ consensus estimates of $2.82 by $0.01. Eaton had a net margin of 15.32% and a return on equity of 21.97%. During the same period in the prior year, the company posted $2.55 EPS. Equities analysts anticipate that Eaton Co. plc will post 10.79 EPS for the current fiscal year.

Insiders Place Their Bets

In other Eaton news, Director Gregory R. Page sold 10,000 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $355.98, for a total value of $3,559,800.00. Following the completion of the transaction, the director now owns 43,203 shares of the company’s stock, valued at $15,379,403.94. This represents a 18.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Craig Arnold sold 61,569 shares of Eaton stock in a transaction dated 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 sale, the insider now directly owns 506,360 shares in the company, valued at $182,780,769.20. The trade was a 10.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 72,981 shares of company stock valued at $26,318,917. 0.53% of the stock is currently owned by insiders.

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.