Sanibel Captiva Trust Company Inc. Buys 285 Shares of Eaton Co. plc (NYSE:ETN)

Sanibel Captiva Trust Company Inc. raised its stake in Eaton Co. plc (NYSE:ETN) by 6.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,006 shares of the industrial products company’s stock after acquiring an additional 285 shares during the period. Sanibel Captiva Trust Company Inc.’s holdings in Eaton were worth $1,661,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of ETN. B. Riley Wealth Advisors Inc. grew its holdings in shares of Eaton by 48.9% during the third quarter. B. Riley Wealth Advisors Inc. now owns 41,106 shares of the industrial products company’s stock valued at $13,533,000 after buying an additional 13,497 shares during the last quarter. Interval Partners LP lifted its holdings in shares of Eaton by 82.7% during the second quarter. Interval Partners LP now owns 151,716 shares of the industrial products company’s stock valued at $47,571,000 after purchasing an additional 68,693 shares in the last quarter. Scientech Research LLC increased its holdings in Eaton by 285.5% in the 2nd quarter. Scientech Research LLC now owns 5,744 shares of the industrial products company’s stock worth $1,801,000 after buying an additional 4,254 shares in the last quarter. Eastover Investment Advisors LLC bought a new position in Eaton during the 4th quarter valued at about $6,167,000. Finally, Neville Rodie & Shaw Inc. boosted its holdings in shares of Eaton by 6.8% during the 4th quarter. Neville Rodie & Shaw Inc. now owns 38,386 shares of the industrial products company’s stock valued at $12,739,000 after acquiring an additional 2,428 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling

In other Eaton news, Director Gregory R. Page sold 4,000 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the completion of the transaction, the director now owns 51,422 shares of the company’s stock, valued at $17,241,796.60. This represents a 7.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Craig Arnold sold 61,569 shares of Eaton stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total value of $22,224,561.93. Following the completion of the sale, the insider now directly owns 506,360 shares in the company, valued at $182,780,769.20. This trade represents a 10.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 76,981 shares of company stock worth $27,660,117. 0.33% of the stock is owned by insiders.

Eaton Trading Up 0.4 %

Shares of Eaton stock opened at $346.54 on Friday. Eaton Co. plc has a fifty-two week low of $236.20 and a fifty-two week high of $379.99. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53. The company has a market capitalization of $136.95 billion, a P/E ratio of 36.87, a P/E/G ratio of 2.27 and a beta of 1.06. The company has a fifty day moving average of $354.32 and a 200 day moving average of $329.77.

Eaton (NYSE:ETN) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. The firm had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.47 earnings per share. On average, sell-side analysts anticipate that Eaton Co. plc will post 10.8 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 4th were issued a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend was Monday, November 4th. Eaton’s dividend payout ratio (DPR) is presently 40.00%.

Analyst Ratings Changes

ETN has been the topic of several research reports. Bank of America raised their target price on shares of Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Wells Fargo & Company reduced their price objective on Eaton from $365.00 to $350.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Evercore ISI cut Eaton from an “outperform” rating to an “inline” rating and raised their target price for the stock from $333.00 to $389.00 in a research report on Wednesday, November 13th. Citigroup reduced their price target on shares of Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Finally, JPMorgan Chase & Co. cut their target price on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $368.89.

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.