Eaton Corporation, PLC (NYSE:ETN) Shares Sold by Lcnb Corp

Lcnb Corp reduced its position in Eaton Corporation, PLC (NYSE:ETN) by 3.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,331 shares of the industrial products company’s stock after selling 135 shares during the period. Lcnb Corp’s holdings in Eaton were worth $1,177,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of ETN. Brighton Jones LLC raised its holdings in shares of Eaton by 1.4% during the 4th quarter. Brighton Jones LLC now owns 3,341 shares of the industrial products company’s stock valued at $1,109,000 after buying an additional 45 shares during the period. Revolve Wealth Partners LLC raised its holdings in shares of Eaton by 17.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 913 shares of the industrial products company’s stock valued at $303,000 after buying an additional 136 shares during the period. Bank Pictet & Cie Europe AG purchased a new stake in shares of Eaton during the 4th quarter valued at about $42,839,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Eaton during the 4th quarter valued at about $233,000. Finally, FIL Ltd raised its holdings in shares of Eaton by 210.2% during the 4th quarter. FIL Ltd now owns 95,086 shares of the industrial products company’s stock valued at $31,556,000 after buying an additional 64,434 shares during the period. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Eaton

In related news, insider Craig Arnold sold 103,486 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $322.75, for a total transaction of $33,400,106.50. Following the completion of the transaction, the insider owned 490,208 shares in the company, valued at $158,214,632. The trade was a 17.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ETN. JPMorgan Chase & Co. raised their target price on Eaton from $300.00 to $360.00 and gave the company an “overweight” rating in a report on Friday, May 16th. Royal Bank Of Canada lifted their price objective on Eaton from $336.00 to $356.00 and gave the stock an “outperform” rating in a report on Monday, May 5th. The Goldman Sachs Group lifted their price objective on Eaton from $345.00 to $382.00 and gave the stock a “buy” rating in a report on Tuesday, July 8th. BNP Paribas Exane assumed coverage on Eaton in a report on Thursday, May 15th. They set an “outperform” rating and a $380.00 price objective on the stock. Finally, BNP Paribas assumed coverage on Eaton in a report on Thursday, May 15th. They set an “outperform” rating and a $380.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $383.63.

Eaton Price Performance

Shares of NYSE ETN opened at $363.07 on Friday. Eaton Corporation, PLC has a twelve month low of $231.85 and a twelve month high of $399.56. The company has a current ratio of 1.24, a quick ratio of 0.84 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $141.34 billion, a price-to-earnings ratio of 36.53, a price-to-earnings-growth ratio of 2.66 and a beta of 1.18. The business has a 50 day simple moving average of $354.99 and a 200-day simple moving average of $318.37.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $2.95 earnings per share for the quarter, beating analysts’ consensus estimates of $2.92 by $0.03. Eaton had a return on equity of 23.91% and a net margin of 15.11%. The business had revenue of $7.03 billion during the quarter, compared to the consensus estimate of $6.93 billion. During the same period in the previous year, the business earned $2.73 EPS. The business’s quarterly revenue was up 10.7% on a year-over-year basis. As a group, equities research analysts expect that Eaton Corporation, PLC will post 12.02 earnings per share for the current year.

Eaton Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Thursday, August 7th will be given a dividend of $1.04 per share. The ex-dividend date is Thursday, August 7th. This represents a $4.16 dividend on an annualized basis and a yield of 1.1%. Eaton’s payout ratio is currently 41.85%.

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.