Eaton Co. plc (NYSE:ETN) Stock Holdings Lessened by Iowa State Bank

Iowa State Bank reduced its holdings in Eaton Co. plc (NYSE:ETNFree Report) by 1.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 22,484 shares of the industrial products company’s stock after selling 442 shares during the quarter. Eaton makes up 1.3% of Iowa State Bank’s portfolio, making the stock its 27th biggest position. Iowa State Bank’s holdings in Eaton were worth $5,415,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Red Spruce Capital LLC grew its holdings in shares of Eaton by 0.3% in the 4th quarter. Red Spruce Capital LLC now owns 17,522 shares of the industrial products company’s stock worth $4,220,000 after purchasing an additional 45 shares during the last quarter. GSG Advisors LLC grew its holdings in shares of Eaton by 2.1% in the 4th quarter. GSG Advisors LLC now owns 2,227 shares of the industrial products company’s stock worth $519,000 after purchasing an additional 46 shares during the last quarter. Quent Capital LLC lifted its position in Eaton by 3.8% during the 4th quarter. Quent Capital LLC now owns 1,334 shares of the industrial products company’s stock worth $321,000 after buying an additional 49 shares in the last quarter. Drive Wealth Management LLC lifted its position in Eaton by 3.3% during the 4th quarter. Drive Wealth Management LLC now owns 1,513 shares of the industrial products company’s stock worth $364,000 after buying an additional 49 shares in the last quarter. Finally, Global Trust Asset Management LLC lifted its position in Eaton by 33.3% during the 4th quarter. Global Trust Asset Management LLC now owns 200 shares of the industrial products company’s stock valued at $48,000 after purchasing an additional 50 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Eaton Price Performance

Shares of NYSE ETN traded up $2.98 during mid-day trading on Tuesday, reaching $315.01. The company had a trading volume of 2,773,134 shares, compared to its average volume of 1,782,023. 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 Co. plc has a one year low of $155.38 and a one year high of $317.02. The firm has a market cap of $125.85 billion, a price-to-earnings ratio of 39.25, a PEG ratio of 2.59 and a beta of 1.07. The business’s 50-day simple moving average is $284.53 and its 200 day simple moving average is $245.06.

Eaton (NYSE:ETNGet Free Report) last issued its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.55 EPS for the quarter, topping 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 company had revenue of $5.97 billion for the quarter, compared to analysts’ expectations of $5.91 billion. During the same quarter last year, the business earned $2.06 earnings per share. Eaton’s revenue was up 10.8% on a year-over-year basis. On average, research analysts predict that Eaton Co. plc will post 10.25 earnings per share for the current fiscal year.

Eaton Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 11th were given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date was Friday, March 8th. This is a boost from Eaton’s previous quarterly dividend of $0.86. Eaton’s payout ratio is currently 46.88%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ETN. Berenberg Bank increased their price target on shares of Eaton from $200.00 to $345.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Bank of America increased their price objective on Eaton from $320.00 to $330.00 and gave the company a “buy” rating in a report on Monday, March 18th. Barclays raised Eaton from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $250.00 to $300.00 in a report on Tuesday. Mizuho raised their price target on Eaton from $300.00 to $340.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Finally, Evercore ISI raised their price target on Eaton from $262.00 to $308.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $281.73.

Get Our Latest Stock Analysis on ETN

Insider Buying and Selling at Eaton

In other Eaton news, insider Heath B. Monesmith sold 13,027 shares of Eaton 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 transaction, the insider now owns 69,472 shares in the company, valued at $20,244,140.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Peter Denk sold 1,731 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $288.97, for a total transaction of $500,207.07. Following the sale, the insider now directly owns 5,514 shares in the company, valued at $1,593,380.58. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Heath B. Monesmith sold 13,027 shares of the business’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 sale, the insider now owns 69,472 shares in the company, 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 90 days. Insiders own 0.33% of the company’s stock.

About Eaton

(Free Report)

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.

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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