Nixon Peabody Trust Co. Grows Stock Holdings in Eaton Co. plc (NYSE:ETN)

Nixon Peabody Trust Co. lifted its stake in shares of Eaton Co. plc (NYSE:ETN) by 38.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,037 shares of the industrial products company’s stock after purchasing an additional 287 shares during the quarter. Nixon Peabody Trust Co.’s holdings in Eaton were worth $344,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in ETN. Capital World Investors grew its stake in Eaton by 323.8% during the first quarter. Capital World Investors now owns 3,192,576 shares of the industrial products company’s stock valued at $998,255,000 after acquiring an additional 2,439,270 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of Eaton by 27,075.5% in the third quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company’s stock worth $355,959,000 after purchasing an additional 1,070,024 shares during the period. Swedbank AB purchased a new stake in shares of Eaton in the second quarter worth $225,974,000. Assenagon Asset Management S.A. boosted its stake in Eaton by 1,604.4% during the second quarter. Assenagon Asset Management S.A. now owns 673,579 shares of the industrial products company’s stock valued at $211,201,000 after buying an additional 634,059 shares during the period. Finally, Wulff Hansen & CO. grew its position in Eaton by 31,255.0% during the second quarter. Wulff Hansen & CO. now owns 478,164 shares of the industrial products company’s stock worth $149,928,000 after buying an additional 476,639 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on ETN shares. Sanford C. Bernstein initiated coverage on Eaton in a report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price target on the stock. Bank of America lifted their target price on shares of Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Citigroup began coverage on shares of Eaton in a report on Monday, September 16th. They issued a “buy” rating and a $348.00 price target on the stock. UBS Group began coverage on shares of Eaton in a research report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 target price for the company. Finally, Evercore ISI downgraded Eaton from an “outperform” rating to an “inline” rating and raised their price target for the company from $333.00 to $389.00 in a research report on Wednesday, November 13th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $357.83.

Eaton Stock Down 0.3 %

Shares of NYSE:ETN traded down $0.95 during midday trading on Monday, reaching $358.04. The company’s stock had a trading volume of 56,391 shares, compared to its average volume of 2,103,546. Eaton Co. plc has a 12-month low of $224.52 and a 12-month high of $373.49. The firm has a market capitalization of $141.50 billion, a P/E ratio of 38.19, a PEG ratio of 2.85 and a beta of 1.01. The firm has a 50 day moving average of $335.82 and a 200-day moving average of $321.44. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The firm had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.37 billion. During the same period in the previous year, the firm posted $2.47 EPS. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. On average, research analysts anticipate that Eaton Co. plc will post 10.79 earnings per share for the current year.

Eaton Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date is Monday, November 4th. Eaton’s payout ratio is 40.00%.

Insider Buying and Selling

In related news, Director Karenann K. Terrell bought 500 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were bought at an average cost of $298.97 per share, for a total transaction of $149,485.00. Following the completion of the transaction, the director now owns 500 shares of the company’s stock, valued at approximately $149,485. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Craig Arnold sold 61,569 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total value of $22,224,561.93. Following the completion of the sale, the insider now owns 506,360 shares of the company’s stock, valued at approximately $182,780,769.20. The trade was a 10.84 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 68,705 shares of company stock worth $24,516,346. 0.53% of the stock is owned by corporate insiders.

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.