Emprise Bank Takes $1.59 Million Position in Eaton Co. plc (NYSE:ETN)

Emprise Bank purchased a new position in shares of Eaton Co. plc (NYSE:ETNFree Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 5,074 shares of the industrial products company’s stock, valued at approximately $1,587,000. Eaton comprises approximately 1.1% of Emprise Bank’s portfolio, making the stock its 25th biggest holding.

A number of other large investors have also bought and sold shares of the stock. FinTrust Capital Advisors LLC increased its stake in shares of Eaton by 2.6% in the fourth quarter. FinTrust Capital Advisors LLC now owns 1,481 shares of the industrial products company’s stock worth $357,000 after buying an additional 37 shares during the period. Meeder Asset Management Inc. grew its holdings in Eaton by 3.3% in the 4th quarter. Meeder Asset Management Inc. now owns 1,315 shares of the industrial products company’s stock worth $317,000 after acquiring an additional 42 shares during the last quarter. Telemus Capital LLC increased its position in shares of Eaton by 1.0% in the fourth quarter. Telemus Capital LLC now owns 4,111 shares of the industrial products company’s stock valued at $990,000 after acquiring an additional 42 shares during the period. Amarillo National Bank raised its stake in shares of Eaton by 3.5% during the fourth quarter. Amarillo National Bank now owns 1,270 shares of the industrial products company’s stock valued at $306,000 after acquiring an additional 43 shares during the last quarter. Finally, Monument Capital Management boosted its holdings in shares of Eaton by 1.9% during the fourth quarter. Monument Capital Management now owns 2,415 shares of the industrial products company’s stock worth $582,000 after purchasing an additional 44 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Peter Denk sold 2,416 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $331.84, for a total value of $801,725.44. Following the completion of the transaction, the insider now directly owns 5,086 shares in the company, valued at approximately $1,687,738.24. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.33% of the company’s stock.

Eaton Stock Up 0.7 %

Shares of ETN traded up $2.26 during mid-day trading on Wednesday, reaching $327.59. The company had a trading volume of 1,903,905 shares, compared to its average volume of 2,057,659. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.05 and a current ratio of 1.56. The company has a market capitalization of $130.97 billion, a price-to-earnings ratio of 38.68, a price-to-earnings-growth ratio of 2.72 and a beta of 1.04. The firm has a 50-day moving average price of $324.51 and a 200 day moving average price of $288.40. Eaton Co. plc has a 52 week low of $189.26 and a 52 week high of $345.19.

Eaton (NYSE:ETNGet Free Report) last released its earnings results on Tuesday, April 30th. The industrial products company reported $2.40 EPS for the quarter, topping the consensus estimate of $2.28 by $0.12. Eaton had a return on equity of 20.69% and a net margin of 14.38%. The business had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $5.91 billion. During the same period in the previous year, the company posted $1.88 earnings per share. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. On average, sell-side analysts forecast that Eaton Co. plc will post 10.56 EPS for the current year.

Eaton Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Monday, May 6th were paid a dividend of $0.94 per share. The ex-dividend date was Friday, May 3rd. This represents a $3.76 dividend on an annualized basis and a yield of 1.15%. Eaton’s dividend payout ratio is currently 44.39%.

Analyst Ratings Changes

A number of research analysts have commented on ETN shares. Bank of America upped their price target on Eaton from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Berenberg Bank raised their price target on Eaton from $200.00 to $345.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Barclays raised shares of Eaton from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $250.00 to $300.00 in a research report on Tuesday, April 2nd. The Goldman Sachs Group raised their target price on shares of Eaton from $287.00 to $328.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. Finally, Royal Bank of Canada upgraded shares of Eaton from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $286.00 to $371.00 in a research report on Friday, April 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $314.27.

Read Our Latest Stock Analysis on ETN

Eaton Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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