Heartland Bank & Trust Co Sells 88 Shares of Eaton Co. plc (NYSE:ETN)

Heartland Bank & Trust Co reduced its holdings in Eaton Co. plc (NYSE:ETN) by 2.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,430 shares of the industrial products company’s stock after selling 88 shares during the quarter. Eaton comprises 0.6% of Heartland Bank & Trust Co’s holdings, making the stock its 29th largest holding. Heartland Bank & Trust Co’s holdings in Eaton were worth $1,137,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of ETN. Breakwater Investment Management grew its stake in shares of Eaton by 1,560.0% in the 2nd quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock valued at $26,000 after buying an additional 78 shares during the period. Proffitt & Goodson Inc. bought a new stake in shares of Eaton during the second quarter valued at approximately $29,000. LGT Financial Advisors LLC acquired a new stake in Eaton in the 2nd quarter valued at $33,000. Redmont Wealth Advisors LLC bought a new stake in Eaton during the 1st quarter valued at $33,000. Finally, West Financial Advisors LLC acquired a new position in Eaton during the third quarter worth $35,000. 82.97% of the stock is currently owned by institutional investors.

Eaton Price Performance

Eaton stock opened at $345.00 on Thursday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.56 and a quick ratio of 1.07. Eaton Co. plc has a one year low of $193.77 and a one year high of $349.74. The firm has a market capitalization of $137.93 billion, a P/E ratio of 40.73, a PEG ratio of 2.58 and a beta of 1.02. The business has a fifty day moving average price of $317.08 and a 200-day moving average price of $317.12.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Thursday, August 1st. The industrial products company reported $2.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.61 by $0.12. The firm had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.35 billion. Eaton had a net margin of 15.12% and a return on equity of 21.45%. As a group, equities research analysts forecast that Eaton Co. plc will post 10.75 EPS for the current year.

Eaton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 4th will be given a $0.94 dividend. The ex-dividend date is Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.09%. Eaton’s dividend payout ratio (DPR) is presently 44.39%.

Insider Activity at Eaton

In other news, insider Heath B. Monesmith sold 49,040 shares of Eaton stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $301.02, for a total transaction 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 stock was sold at an average price of $301.02, for a total transaction of $14,762,020.80. Following the sale, the insider now owns 71,262 shares in the company, valued at $21,451,287.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Taras G. Jr. Szmagala sold 335 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $288.72, for a total value of $96,721.20. Following the completion of the transaction, the insider now owns 9,900 shares of the company’s stock, valued at $2,858,328. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 52,511 shares of company stock valued at $15,809,326. Company insiders own 0.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ETN. Mizuho upped their target price on shares of Eaton from $355.00 to $365.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Jefferies Financial Group increased their price target on Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Morgan Stanley initiated coverage on shares of Eaton in a research note on Friday, September 6th. They issued an “overweight” rating and a $370.00 target price for the company. Barclays raised their price target on shares of Eaton from $319.00 to $327.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. Finally, Wolfe Research upgraded shares of Eaton from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $340.06.

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.