Eaton Co. plc (NYSE:ETN) Shares Sold by Field & Main Bank

Field & Main Bank lessened its stake in shares of Eaton Co. plc (NYSE:ETN) by 0.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,230 shares of the industrial products company’s stock after selling 85 shares during the quarter. Eaton comprises about 1.0% of Field & Main Bank’s investment portfolio, making the stock its 27th biggest position. Field & Main Bank’s holdings in Eaton were worth $2,464,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in the stock. FMR LLC boosted its stake in shares of Eaton by 36.0% during the 3rd quarter. FMR LLC now owns 19,921,979 shares of the industrial products company’s stock worth $4,248,960,000 after purchasing an additional 5,270,331 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC purchased a new stake in Eaton in the 3rd quarter worth approximately $340,500,000. Deutsche Bank AG raised its holdings in Eaton by 97.5% in the 3rd quarter. Deutsche Bank AG now owns 1,860,312 shares of the industrial products company’s stock valued at $396,767,000 after acquiring an additional 918,422 shares during the last quarter. Artisan Partners Limited Partnership purchased a new position in shares of Eaton during the 3rd quarter worth $67,305,000. Finally, International Assets Investment Management LLC grew its position in shares of Eaton by 21,664.8% in the fourth quarter. International Assets Investment Management LLC now owns 316,242 shares of the industrial products company’s stock valued at $76,157,000 after purchasing an additional 314,789 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on ETN. Bank of America raised their target price on shares of Eaton from $320.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Berenberg Bank raised their price objective on Eaton from $200.00 to $345.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Barclays upgraded shares of Eaton from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $250.00 to $300.00 in a report on Tuesday, April 2nd. Wolfe Research reissued an “underperform” rating and issued a $312.00 target price on shares of Eaton in a research note on Monday, April 8th. Finally, The Goldman Sachs Group increased their price target on 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 issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $295.60.

Insider Buying and Selling at Eaton

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

Eaton Stock Performance

Shares of Eaton stock traded up $2.54 during trading on Monday, reaching $326.84. The company’s stock had a trading volume of 3,151,497 shares, compared to its average volume of 1,971,578. Eaton Co. plc has a one year low of $165.24 and a one year high of $331.47. The business’s fifty day moving average price is $305.81 and its 200-day moving average price is $259.67. The firm has a market cap of $130.57 billion, a price-to-earnings ratio of 40.75, a price-to-earnings-growth ratio of 2.69 and a beta of 1.07. 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 released its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.47 by $0.08. Eaton had a return on equity of 20.05% and a net margin of 13.88%. The business had revenue of $5.97 billion for the quarter, compared to analysts’ expectations of $5.91 billion. During the same period in the previous year, the business posted $2.06 earnings per share. Eaton’s quarterly revenue was up 10.8% on a year-over-year basis. As a group, equities research analysts predict that Eaton Co. plc will post 10.28 earnings per share for the current year.

Eaton Announces Dividend

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

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.