Pinnacle Financial Partners Inc Has $27.74 Million Holdings in Eaton Co. plc (NYSE:ETN)

Pinnacle Financial Partners Inc reduced its holdings in Eaton Co. plc (NYSE:ETN) by 1.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 83,687 shares of the industrial products company’s stock after selling 808 shares during the period. Pinnacle Financial Partners Inc’s holdings in Eaton were worth $27,737,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Mengis Capital Management Inc. grew its position in Eaton by 3.1% during the third quarter. Mengis Capital Management Inc. now owns 2,627 shares of the industrial products company’s stock valued at $871,000 after purchasing an additional 80 shares in the last quarter. MQS Management LLC purchased a new position in shares of Eaton during the 3rd quarter valued at $474,000. Dillon & Associates Inc. increased its stake in shares of Eaton by 50.7% in the third quarter. Dillon & Associates Inc. now owns 7,718 shares of the industrial products company’s stock worth $2,555,000 after acquiring an additional 2,596 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Eaton by 3.6% during the third quarter. Victory Capital Management Inc. now owns 334,528 shares of the industrial products company’s stock worth $110,876,000 after acquiring an additional 11,550 shares in the last quarter. Finally, Aptus Capital Advisors LLC boosted its position in Eaton by 20.9% during the third quarter. Aptus Capital Advisors LLC now owns 32,562 shares of the industrial products company’s stock valued at $10,792,000 after purchasing an additional 5,639 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company raised their price target on Eaton from $315.00 to $342.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Citigroup started coverage on shares of Eaton in a research note on Monday, September 16th. They issued a “buy” rating and a $348.00 target price for the company. Sanford C. Bernstein assumed coverage on shares of Eaton in a research report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 target price for the company. Mizuho raised their price target on shares of Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, Morgan Stanley started coverage on shares of Eaton in a report on Friday, September 6th. They issued an “overweight” rating and a $370.00 price objective for the company. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $346.39.

Insiders Place Their Bets

In other news, insider Heath B. Monesmith sold 49,040 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $301.02, for a total value of $14,762,020.80. Following the transaction, the insider now directly owns 71,262 shares of the company’s stock, valued at $21,451,287.24. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Eaton news, insider Heath B. Monesmith sold 49,040 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $301.02, for a total value of $14,762,020.80. Following the completion of the sale, the insider now owns 71,262 shares in the company, valued at approximately $21,451,287.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Karenann K. Terrell bought 500 shares of Eaton stock in a transaction dated Wednesday, August 21st. The shares were bought at an average price of $298.97 per share, for a total transaction of $149,485.00. Following the completion of the transaction, the director now directly owns 500 shares of the company’s stock, valued at $149,485. The disclosure for this purchase can be found here. Insiders sold 117,745 shares of company stock worth $39,278,367 over the last three months. 0.33% of the stock is currently owned by corporate insiders.

Eaton Trading Down 0.8 %

Shares of ETN stock opened at $369.05 on Wednesday. The firm has a market capitalization of $145.85 billion, a P/E ratio of 39.26, a price-to-earnings-growth ratio of 2.98 and a beta of 1.01. Eaton Co. plc has a 1 year low of $220.24 and a 1 year high of $373.49. The firm’s fifty day simple moving average is $331.19 and its 200 day simple moving average is $320.50. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.80 by $0.04. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The business had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.37 billion. During the same quarter in the prior year, the business earned $2.47 earnings per share. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. As a group, sell-side analysts predict that Eaton Co. plc will post 10.79 EPS for the current year.

Eaton Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 4th will be paid a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 1.02%. The ex-dividend date is Monday, November 4th. Eaton’s dividend payout ratio is 40.00%.

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.