Fiduciary Trust Co Purchases 1,449 Shares of Eaton Co. plc (NYSE:ETN)

Fiduciary Trust Co boosted its position in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 5.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,670 shares of the industrial products company's stock after purchasing an additional 1,449 shares during the period. Fiduciary Trust Co's holdings in Eaton were worth $8,851,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Flagship Wealth Advisors LLC acquired a new stake in shares of Eaton in the fourth quarter valued at approximately $27,000. Noble Wealth Management PBC acquired a new stake in shares of Eaton in the fourth quarter valued at approximately $30,000. Horizon Bancorp Inc. IN lifted its position in shares of Eaton by 321.7% in the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company's stock valued at $32,000 after buying an additional 74 shares during the last quarter. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Eaton in the fourth quarter valued at approximately $33,000. Finally, Activest Wealth Management boosted its holdings in shares of Eaton by 621.4% during the fourth quarter. Activest Wealth Management now owns 101 shares of the industrial products company's stock worth $34,000 after acquiring an additional 87 shares during the period. Institutional investors own 82.97% of the company's stock.

Eaton Trading Down 0.2%

Shares of Eaton stock traded down $0.69 on Wednesday, hitting $330.06. 1,112,318 shares of the company's stock traded hands, compared to its average volume of 3,594,629. Eaton Co. plc has a one year low of $231.85 and a one year high of $379.99. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. The company has a fifty day moving average of $284.57 and a two-hundred day moving average of $319.88. The company has a market capitalization of $129.15 billion, a price-to-earnings ratio of 34.74, a price-to-earnings-growth ratio of 2.64 and a beta of 1.14.

Eaton (NYSE:ETN - Get Free Report) last announced its earnings results on Friday, May 2nd. The industrial products company reported $2.72 EPS for the quarter, beating the consensus estimate of $2.70 by $0.02. The company had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.26 billion. Eaton had a return on equity of 22.62% and a net margin of 15.25%. The firm's revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.40 EPS. As a group, sell-side analysts expect that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Monday, May 5th will be issued a $1.04 dividend. The ex-dividend date of this dividend is Monday, May 5th. This represents a $4.16 annualized dividend and a yield of 1.26%. Eaton's payout ratio is currently 41.98%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ETN. Melius cut Eaton from a "buy" rating to a "hold" rating and set a $373.00 price objective for the company. in a report on Tuesday, January 28th. JPMorgan Chase & Co. boosted their price objective on Eaton from $289.00 to $300.00 and gave the stock an "overweight" rating in a report on Tuesday, May 6th. Evercore ISI reduced their price objective on Eaton from $382.00 to $326.00 and set an "in-line" rating for the company in a report on Wednesday, February 19th. Melius Research reiterated a "hold" rating and issued a $373.00 price target on shares of Eaton in a research report on Tuesday, January 28th. Finally, Barclays lowered their price objective on shares of Eaton from $315.00 to $306.00 and set an "equal weight" rating for the company in a research report on Friday, April 4th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $361.13.

Insiders Place Their Bets

In related news, insider Craig Arnold sold 51,054 shares of the stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $305.43, for a total transaction of $15,593,423.22. Following the completion of the sale, the insider now directly owns 489,444 shares of the company's stock, valued at approximately $149,490,880.92. This trade represents a 9.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michael Yelton sold 2,120 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total value of $629,364.40. Following the sale, the insider now directly owns 3,382 shares of the company's stock, valued at $1,004,014.34. The trade was a 38.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 156,660 shares of company stock worth $49,622,894. Corporate insiders own 0.30% of the company's stock.

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.