Eaton Co. plc (NYSE:ETN) Shares Sold by Intrust Bank NA

Intrust Bank NA lowered its position in Eaton Co. plc (NYSE:ETN) by 6.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,901 shares of the industrial products company’s stock after selling 581 shares during the quarter. Intrust Bank NA’s holdings in Eaton were worth $2,144,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Tennessee Valley Asset Management Partners purchased a new position in Eaton in the fourth quarter valued at about $25,000. Valued Wealth Advisors LLC purchased a new stake in shares of Eaton during the fourth quarter worth about $35,000. Chilton Capital Management LLC purchased a new stake in shares of Eaton during the fourth quarter worth about $35,000. Authentikos Wealth Advisory LLC purchased a new stake in shares of Eaton during the third quarter worth about $39,000. Finally, Legacy Financial Group LLC purchased a new stake in shares of Eaton during the third quarter worth about $43,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Eaton Price Performance

Shares of NYSE ETN traded up $2.21 during trading on Monday, hitting $326.51. The company had a trading volume of 3,120,620 shares, compared to its average volume of 1,956,901. The company has a market cap of $130.44 billion, a P/E ratio of 40.55, a PEG ratio of 2.69 and a beta of 1.07. Eaton Co. plc has a 52 week low of $165.24 and a 52 week high of $331.47. The business’s 50-day moving average is $304.82 and its 200 day moving average is $258.90. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.02 and a current ratio of 1.51.

Eaton (NYSE:ETN) last announced its earnings results on Thursday, February 1st. The industrial products company reported $2.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.08. Eaton had a net margin of 13.88% and a return on equity of 20.05%. The company had revenue of $5.97 billion for the quarter, compared to the consensus estimate of $5.91 billion. During the same period in the previous year, the business earned $2.06 EPS. The company’s revenue was up 10.8% on a year-over-year basis. Equities research analysts predict that Eaton Co. plc will post 10.28 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date is Friday, May 3rd. Eaton’s dividend payout ratio is presently 46.88%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ETN. Citigroup lifted their target price on Eaton from $270.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Evercore ISI boosted their price objective on Eaton from $262.00 to $308.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. Royal Bank of Canada raised Eaton from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $286.00 to $371.00 in a report on Friday, April 5th. The Goldman Sachs Group boosted their price objective on Eaton from $287.00 to $328.00 and gave the company a “buy” rating in a report on Friday, March 15th. Finally, Mizuho boosted their price objective on Eaton from $300.00 to $340.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Eaton has a consensus rating of “Moderate Buy” and a consensus target price of $295.60.

Insider Buying and Selling

In other news, insider Peter Denk sold 1,731 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $288.97, for a total transaction of $500,207.07. Following the completion of the transaction, the insider now owns 5,514 shares of the company’s stock, valued at $1,593,380.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Heath B. Monesmith sold 13,027 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $291.40, for a total transaction of $3,796,067.80. Following the sale, the insider now directly owns 69,472 shares of the company’s stock, valued at $20,244,140.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Peter Denk sold 1,731 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $288.97, for a total transaction of $500,207.07. Following the sale, the insider now directly owns 5,514 shares in the company, valued at $1,593,380.58. The disclosure for this sale can be found here. Over the last three months, insiders sold 38,969 shares of company stock worth $10,904,774. Corporate insiders own 0.33% of the company’s stock.

Eaton 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.