CENTRAL TRUST Co Has $5.24 Million Holdings in Eaton Co. plc (NYSE:ETN)

CENTRAL TRUST Co grew its holdings in shares of Eaton Co. plc (NYSE:ETN) by 0.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,772 shares of the industrial products company’s stock after acquiring an additional 94 shares during the quarter. CENTRAL TRUST Co’s holdings in Eaton were worth $5,244,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Fragasso Group Inc. grew its holdings in shares of Eaton by 3.6% during the first quarter. Fragasso Group Inc. now owns 1,032 shares of the industrial products company’s stock worth $323,000 after purchasing an additional 36 shares in the last quarter. Valley National Advisers Inc. raised its holdings in shares of Eaton by 5.6% during the 1st quarter. Valley National Advisers Inc. now owns 682 shares of the industrial products company’s stock valued at $213,000 after buying an additional 36 shares in the last quarter. Wendell David Associates Inc. raised its stake in shares of Eaton by 4.0% during the first quarter. Wendell David Associates Inc. now owns 936 shares of the industrial products company’s stock worth $293,000 after acquiring an additional 36 shares in the last quarter. FinTrust Capital Advisors LLC grew its holdings in shares of Eaton by 2.6% during the 4th quarter. FinTrust Capital Advisors LLC now owns 1,481 shares of the industrial products company’s stock valued at $357,000 after purchasing an additional 37 shares during the last quarter. Finally, Meeder Asset Management Inc. lifted its stake in Eaton by 3.3% in the fourth quarter. Meeder Asset Management Inc. now owns 1,315 shares of the industrial products company’s stock worth $317,000 after purchasing an additional 42 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on ETN. Citigroup boosted their price objective on Eaton from $270.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Royal Bank of Canada upgraded shares of Eaton from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $286.00 to $371.00 in a report on Friday, April 5th. JPMorgan Chase & Co. boosted their price target on Eaton from $279.00 to $325.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Argus increased their price objective on Eaton from $290.00 to $350.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Finally, Wolfe Research reissued an “underperform” rating and set a $312.00 target price on shares of Eaton in a research note on Monday, April 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Eaton presently has an average rating of “Moderate Buy” and a consensus target price of $314.27.

Eaton Stock Down 0.2 %

Shares of ETN stock traded down $0.60 during mid-day trading on Wednesday, reaching $336.13. 1,564,790 shares of the company’s stock traded hands, compared to its average volume of 1,983,884. Eaton Co. plc has a 12 month low of $167.33 and a 12 month high of $338.88. The company has a market cap of $134.38 billion, a P/E ratio of 39.68, a P/E/G ratio of 2.61 and a beta of 1.06. The company’s 50-day moving average price is $318.69 and its 200-day moving average price is $274.05. The company has a quick ratio of 1.05, a current ratio of 1.56 and a debt-to-equity ratio of 0.42.

Eaton (NYSE:ETN) last released its earnings results on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.28 by $0.12. The firm had revenue of $5.94 billion during the quarter, compared to analyst estimates of $5.91 billion. Eaton had a net margin of 14.38% and a return on equity of 20.69%. The business’s revenue was up 8.4% on a year-over-year basis. During the same period last year, the business earned $1.88 earnings per share. On average, equities analysts expect that Eaton Co. plc will post 10.56 earnings per share for the current fiscal year.

Eaton Announces Dividend

The company also recently declared 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 1.12%. The ex-dividend date is Friday, May 3rd. Eaton’s payout ratio is 44.39%.

Insider Activity at Eaton

In related news, insider Peter Denk sold 1,731 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $288.97, for a total transaction of $500,207.07. Following the completion of the sale, the insider now owns 5,514 shares of the company’s stock, valued at $1,593,380.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, 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 sale, the insider now directly owns 5,514 shares in the company, valued at approximately $1,593,380.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Heath B. Monesmith sold 13,027 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $291.40, for a total transaction of $3,796,067.80. Following the transaction, the insider now owns 69,472 shares in the company, valued at approximately $20,244,140.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 17,174 shares of company stock valued at $5,098,000. 0.33% of the stock is owned by insiders.

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.