Central Bank & Trust Co. Invests $237,000 in Eaton Co. plc (NYSE:ETN)

Central Bank & Trust Co. bought a new stake in Eaton Co. plc (NYSE:ETN - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 872 shares of the industrial products company's stock, valued at approximately $237,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ETN. Brighton Jones LLC lifted its stake in Eaton by 1.4% in 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 in the last quarter. Revolve Wealth Partners LLC raised its holdings in Eaton by 17.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 913 shares of the industrial products company's stock valued at $303,000 after acquiring an additional 136 shares during the last quarter. Consolidated Portfolio Review Corp acquired a new position in Eaton in the 4th quarter valued at $210,000. Strategic Financial Concepts LLC acquired a new position in Eaton in the 4th quarter valued at $38,000. Finally, Lecap Asset Management Ltd. acquired a new position in Eaton in the 4th quarter valued at $317,000. Hedge funds and other institutional investors own 82.97% of the company's stock.

Eaton Stock Up 0.4%

NYSE ETN traded up $1.32 during trading hours on Wednesday, hitting $325.56. The company had a trading volume of 1,423,989 shares, compared to its average volume of 2,643,228. Eaton Co. plc has a fifty-two week low of $231.85 and a fifty-two week high of $379.99. The company has a market capitalization of $127.39 billion, a price-to-earnings ratio of 34.27, a P/E/G ratio of 2.64 and a beta of 1.16. 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 firm's 50 day moving average is $301.79 and its 200 day moving average is $315.72.

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

Eaton Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were issued a $1.04 dividend. The ex-dividend date of this dividend was Monday, May 5th. This represents a $4.16 annualized dividend and a yield of 1.28%. Eaton's dividend payout ratio is currently 41.98%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ETN. JPMorgan Chase & Co. boosted their price target on Eaton from $300.00 to $360.00 and gave the company an "overweight" rating in a report on Friday, May 16th. KeyCorp boosted their price target on Eaton from $325.00 to $355.00 and gave the company an "overweight" rating in a report on Monday, May 5th. BNP Paribas Exane began coverage on Eaton in a report on Thursday, May 15th. They issued an "outperform" rating and a $380.00 price target for the company. Jefferies Financial Group cut their price target on Eaton from $390.00 to $335.00 and set a "buy" rating for the company in a report on Wednesday, March 12th. Finally, Barclays upped their price objective on Eaton from $306.00 to $323.00 and gave the stock an "equal weight" rating in a report on Monday. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, Eaton has a consensus rating of "Moderate Buy" and an average target price of $368.78.

Insider Buying and Selling at Eaton

In other Eaton news, insider Michael Yelton sold 2,120 shares of the company's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total value of $629,364.40. Following the completion of the transaction, the insider now directly owns 3,382 shares of the company's stock, valued at $1,004,014.34. This represents a 38.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Craig Arnold sold 51,054 shares of the company's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $305.43, for a total transaction of $15,593,423.22. Following the completion of the transaction, the insider now directly owns 489,444 shares of the company's stock, valued at approximately $149,490,880.92. The trade was a 9.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 156,660 shares of company stock valued at $49,622,894 in the last ninety days. Insiders own 0.30% of the company's stock.

Eaton Company 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.