Ledyard National Bank Has $11.44 Million Position in Eaton Co. plc (NYSE:ETN)

Ledyard National Bank lessened its position in Eaton Co. plc (NYSE:ETN) by 5.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 47,518 shares of the industrial products company’s stock after selling 2,673 shares during the period. Eaton comprises approximately 1.2% of Ledyard National Bank’s holdings, making the stock its 26th biggest holding. Ledyard National Bank’s holdings in Eaton were worth $11,443,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the company. Tennessee Valley Asset Management Partners acquired a new stake in shares of Eaton in the fourth quarter valued at $25,000. Valued Wealth Advisors LLC acquired a new stake in Eaton in the 4th quarter valued at about $35,000. Chilton Capital Management LLC bought a new position in shares of Eaton in the fourth quarter worth about $35,000. Authentikos Wealth Advisory LLC acquired a new position in shares of Eaton during the third quarter worth approximately $39,000. Finally, Legacy Financial Group LLC bought a new stake in shares of Eaton during the third quarter valued at approximately $43,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insiders Place Their Bets

In other news, insider Heath B. Monesmith sold 13,027 shares of Eaton stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $291.40, for a total value of $3,796,067.80. Following the sale, the insider now directly owns 69,472 shares in the company, valued at $20,244,140.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Heath B. Monesmith sold 13,027 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $291.40, for a total value of $3,796,067.80. Following the completion of the transaction, the insider now owns 69,472 shares in the company, valued at approximately $20,244,140.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Peter Denk sold 1,731 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $288.97, for a total value of $500,207.07. Following the sale, the insider now owns 5,514 shares in the company, valued at approximately $1,593,380.58. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,969 shares of company stock worth $10,904,774. Corporate insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Wolfe Research reaffirmed an “underperform” rating and set a $312.00 price objective on shares of Eaton in a report on Monday, April 8th. UBS Group boosted their price objective on Eaton from $255.00 to $305.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Citigroup raised their target price on shares of Eaton from $270.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Bank of America boosted their price target on shares of Eaton from $320.00 to $330.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Finally, The Goldman Sachs Group raised their price objective on shares of Eaton from $287.00 to $328.00 and gave the company a “buy” rating in a research note on Friday, March 15th. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Eaton presently has a consensus rating of “Moderate Buy” and a consensus price target of $295.60.

Eaton Trading Up 0.8 %

Eaton stock traded up $2.54 during mid-day trading on Monday, hitting $326.84. 3,151,497 shares of the company’s stock were exchanged, compared to its average volume of 1,971,578. The company’s 50 day simple moving average is $305.81 and its 200-day simple moving average is $259.67. The company has a quick ratio of 1.02, a current ratio of 1.51 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $130.57 billion, a P/E ratio of 40.75, a PEG ratio of 2.69 and a beta of 1.07. Eaton Co. plc has a fifty-two week low of $165.24 and a fifty-two week high of $331.47.

Eaton (NYSE:ETN) last issued its quarterly earnings data 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. The business had revenue of $5.97 billion during the quarter, compared to analyst estimates of $5.91 billion. Eaton had a return on equity of 20.05% and a net margin of 13.88%. Eaton’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.06 EPS. On average, equities analysts anticipate that Eaton Co. plc will post 10.28 earnings per share for the current year.

Eaton Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be paid 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 payout ratio is presently 46.88%.

Eaton Company 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.