Piscataqua Savings Bank Lowers Holdings in Eaton Co. plc (NYSE:ETN)

Piscataqua Savings Bank decreased its holdings in Eaton Co. plc (NYSE:ETN) by 7.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 426 shares of the industrial products company’s stock after selling 35 shares during the quarter. Piscataqua Savings Bank’s holdings in Eaton were worth $141,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norden Group LLC purchased a new position in shares of Eaton in the first quarter valued at approximately $2,176,000. Griffin Asset Management Inc. purchased a new position in shares of Eaton in the first quarter valued at approximately $813,000. IAM Advisory LLC purchased a new position in shares of Eaton in the second quarter valued at approximately $599,000. Envestnet Portfolio Solutions Inc. lifted its stake in Eaton by 19.2% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 78,725 shares of the industrial products company’s stock worth $24,616,000 after acquiring an additional 12,689 shares during the last quarter. Finally, Interval Partners LP lifted its stake in Eaton by 82.7% in the second quarter. Interval Partners LP now owns 151,716 shares of the industrial products company’s stock worth $47,571,000 after acquiring an additional 68,693 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Stock Performance

Shares of Eaton stock opened at $338.04 on Wednesday. The firm’s fifty day simple moving average is $310.39 and its 200-day simple moving average is $316.02. The stock has a market capitalization of $135.15 billion, a price-to-earnings ratio of 39.91, a PEG ratio of 2.58 and a beta of 1.02. Eaton Co. plc has a 12 month low of $191.82 and a 12 month high of $347.35. 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 (NYSE:ETN) last announced its quarterly earnings data on Thursday, August 1st. The industrial products company reported $2.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.61 by $0.12. The company had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.35 billion. Eaton had a net margin of 15.12% and a return on equity of 21.45%. As a group, equities analysts forecast that Eaton Co. plc will post 10.75 earnings per share for the current year.

Eaton Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were paid a $0.94 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $3.76 annualized dividend and a yield of 1.11%. Eaton’s dividend payout ratio is currently 44.39%.

Insider Buying and Selling at Eaton

In other news, Director Karenann K. Terrell acquired 500 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were bought at an average cost of $298.97 per share, with a total value of $149,485.00. Following the purchase, the director now owns 500 shares of the company’s stock, valued at $149,485. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Karenann K. Terrell acquired 500 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were bought at an average cost of $298.97 per share, with a total value of $149,485.00. Following the purchase, the director now owns 500 shares of the company’s stock, valued at $149,485. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Taras G. Jr. Szmagala sold 335 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $288.72, for a total transaction of $96,721.20. Following the completion of the transaction, the insider now directly owns 9,900 shares in the company, valued at $2,858,328. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 52,511 shares of company stock valued at $15,809,326. 0.53% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on ETN. Wells Fargo & Company lifted their price target on shares of Eaton from $315.00 to $342.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Morgan Stanley began coverage on shares of Eaton in a research note on Friday, September 6th. They issued an “overweight” rating and a $370.00 price target for the company. Royal Bank of Canada decreased their price target on shares of Eaton from $376.00 to $371.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Citigroup began coverage on shares of Eaton in a research note on Monday, September 16th. They issued a “buy” rating and a $348.00 price target for the company. Finally, Jefferies Financial Group lifted their price target on shares of Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $339.47.

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.