Arlington Trust Co LLC Cuts Stake in Eaton Co. plc (NYSE:ETN)

Arlington Trust Co LLC lessened its holdings in shares of Eaton Co. plc (NYSE:ETN) by 76.6% in the fourth quarter, Holdings Channel reports. The firm owned 330 shares of the industrial products company’s stock after selling 1,083 shares during the period. Arlington Trust Co LLC’s holdings in Eaton were worth $79,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Amarillo National Bank increased its position in Eaton by 3.5% during the 4th quarter. Amarillo National Bank now owns 1,270 shares of the industrial products company’s stock worth $306,000 after purchasing an additional 43 shares in the last quarter. Red Spruce Capital LLC grew its position in Eaton by 0.3% in the fourth quarter. Red Spruce Capital LLC now owns 17,522 shares of the industrial products company’s stock valued at $4,220,000 after acquiring an additional 45 shares in the last quarter. GSG Advisors LLC grew its position in Eaton by 2.1% in the fourth quarter. GSG Advisors LLC now owns 2,227 shares of the industrial products company’s stock valued at $519,000 after acquiring an additional 46 shares in the last quarter. Quent Capital LLC grew its position in Eaton by 3.8% in the fourth quarter. Quent Capital LLC now owns 1,334 shares of the industrial products company’s stock valued at $321,000 after acquiring an additional 49 shares in the last quarter. Finally, Drive Wealth Management LLC grew its position in Eaton by 3.3% in the fourth quarter. Drive Wealth Management LLC now owns 1,513 shares of the industrial products company’s stock valued at $364,000 after acquiring an additional 49 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Buying and Selling

In related news, insider Ernest W. Marshall, Jr. sold 19,750 shares of Eaton stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $273.17, for a total value of $5,395,107.50. Following the transaction, the insider now owns 29,712 shares of the company’s stock, valued at approximately $8,116,427.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Ernest W. Marshall, Jr. sold 19,750 shares of Eaton stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $273.17, for a total value of $5,395,107.50. Following the transaction, the insider now owns 29,712 shares of the company’s stock, valued at approximately $8,116,427.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Peter Denk sold 1,731 shares of Eaton 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 completion of the transaction, the insider now directly 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 quarter, insiders have sold 38,969 shares of company stock valued at $10,904,774. 0.53% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ETN shares. The Goldman Sachs Group increased their price objective on shares of Eaton from $287.00 to $328.00 and gave the company a “buy” rating in a research report on Friday, March 15th. UBS Group raised their price target on shares of Eaton from $255.00 to $305.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Barclays raised shares of Eaton from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $250.00 to $300.00 in a research report on Tuesday, April 2nd. Bank of America raised their price target 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. Finally, Berenberg Bank raised their price objective on Eaton from $200.00 to $345.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Four 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, Eaton has an average rating of “Moderate Buy” and an average price target of $287.40.

Eaton Stock Performance

Shares of ETN traded up $10.35 during trading hours on Friday, reaching $330.51. 2,629,489 shares of the company’s stock traded hands, compared to its average volume of 1,988,345. The business’s fifty day simple moving average is $290.73 and its two-hundred day simple moving average is $247.78. The firm has a market capitalization of $132.04 billion, a price-to-earnings ratio of 41.21, a P/E/G ratio of 2.75 and a beta of 1.07. Eaton Co. plc has a twelve month low of $155.38 and a twelve month high of $331.47. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.51 and a quick ratio of 1.02.

Eaton (NYSE:ETN) last released its earnings results on Thursday, February 1st. The industrial products company reported $2.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.47 by $0.08. The firm had revenue of $5.97 billion for 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 revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the company earned $2.06 earnings per share. Analysts predict that Eaton Co. plc will post 10.25 earnings per share for the current year.

Eaton Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 11th were issued a dividend of $0.94 per share. This is a positive change from Eaton’s previous quarterly dividend of $0.86. This represents a $3.76 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend was Friday, March 8th. 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.