Eaton Co. plc (NYSE:ETN) Stock Holdings Lowered by OLD Second National Bank of Aurora

OLD Second National Bank of Aurora trimmed its position in shares of Eaton Co. plc (NYSE:ETN) by 2.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,072 shares of the industrial products company’s stock after selling 393 shares during the period. Eaton accounts for approximately 1.0% of OLD Second National Bank of Aurora’s holdings, making the stock its 27th biggest position. OLD Second National Bank of Aurora’s holdings in Eaton were worth $3,630,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ETN. Vanguard Group Inc. increased its position in Eaton by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 36,336,041 shares of the industrial products company’s stock valued at $7,749,751,000 after acquiring an additional 176,900 shares during the period. FMR LLC increased its holdings in shares of Eaton by 36.0% during the third quarter. FMR LLC now owns 19,921,979 shares of the industrial products company’s stock valued at $4,248,960,000 after purchasing an additional 5,270,331 shares during the period. State Street Corp raised its stake in shares of Eaton by 8.9% during the first quarter. State Street Corp now owns 16,538,340 shares of the industrial products company’s stock valued at $2,833,676,000 after purchasing an additional 1,358,584 shares in the last quarter. Morgan Stanley lifted its holdings in Eaton by 26.2% in the fourth quarter. Morgan Stanley now owns 12,542,343 shares of the industrial products company’s stock worth $1,968,521,000 after purchasing an additional 2,602,246 shares during the period. Finally, Geode Capital Management LLC grew its position in Eaton by 2.0% in the 1st quarter. Geode Capital Management LLC now owns 7,084,548 shares of the industrial products company’s stock valued at $1,210,672,000 after buying an additional 136,334 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Eaton Stock Up 1.4 %

NYSE:ETN traded up $4.25 during trading hours on Thursday, hitting $314.43. 413,091 shares of the stock traded hands, compared to its average volume of 1,872,783. The firm has a 50 day moving average price of $299.48 and a 200 day moving average price of $253.53. The firm has a market cap of $125.61 billion, a price-to-earnings ratio of 38.67, a PEG ratio of 2.61 and a beta of 1.07. Eaton Co. plc has a fifty-two week low of $161.12 and a fifty-two week high of $331.47. The company has a current ratio of 1.51, a quick ratio of 1.02 and a debt-to-equity ratio of 0.43.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.55 EPS for the quarter, topping 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 business had revenue of $5.97 billion during the quarter, compared to analysts’ expectations of $5.91 billion. During the same period last year, the company posted $2.06 earnings per share. The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. Equities research analysts anticipate that Eaton Co. plc will post 10.28 earnings per share for the current year.

Eaton Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 11th were given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.20%. This is an increase from Eaton’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Friday, March 8th. Eaton’s dividend payout ratio is presently 46.88%.

Insider Activity at Eaton

In related news, insider Olivier Leonetti sold 4,461 shares of Eaton stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $272.00, for a total value of $1,213,392.00. Following the transaction, the insider now owns 630 shares in the company, valued at approximately $171,360. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Ernest W. Marshall, Jr. sold 19,750 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $273.17, for a total transaction of $5,395,107.50. Following the completion of the transaction, the insider now owns 29,712 shares in the company, valued at approximately $8,116,427.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Olivier Leonetti sold 4,461 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $272.00, for a total value of $1,213,392.00. Following the completion of the sale, the insider now owns 630 shares in the company, valued at $171,360. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 38,969 shares of company stock valued at $10,904,774. Corporate insiders own 0.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ETN shares. Bank of America increased their price objective on shares of Eaton from $320.00 to $330.00 and gave the company a “buy” rating in a report on Monday, March 18th. Berenberg Bank lifted their price target on Eaton from $200.00 to $345.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Barclays raised Eaton from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $250.00 to $300.00 in a research note on Tuesday, April 2nd. Citigroup raised their target price on Eaton from $270.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Finally, The Goldman Sachs Group upped their price target on shares of Eaton from $287.00 to $328.00 and gave the company a “buy” rating in a report on Friday, March 15th. One equities 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 stock. Based on data from MarketBeat, Eaton has a consensus rating of “Moderate Buy” and a consensus price target of $295.60.

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.