Keybank National Association OH Has $66.06 Million Position in Eaton Corporation, PLC (NYSE:ETN)

Keybank National Association OH trimmed its stake in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 1.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 243,022 shares of the industrial products company's stock after selling 3,910 shares during the quarter. Keybank National Association OH owned about 0.06% of Eaton worth $66,061,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Norden Group LLC raised its position in shares of Eaton by 3.4% during the 4th quarter. Norden Group LLC now owns 978 shares of the industrial products company's stock worth $325,000 after purchasing an additional 32 shares during the period. Founders Financial Alliance LLC increased its position in Eaton by 0.7% in the 4th quarter. Founders Financial Alliance LLC now owns 5,415 shares of the industrial products company's stock valued at $1,797,000 after acquiring an additional 35 shares during the period. Sound View Wealth Advisors Group LLC raised its stake in Eaton by 1.1% during the 4th quarter. Sound View Wealth Advisors Group LLC now owns 3,587 shares of the industrial products company's stock valued at $1,190,000 after acquiring an additional 38 shares in the last quarter. Lantern Wealth Advisors LLC boosted its position in Eaton by 1.0% during the 4th quarter. Lantern Wealth Advisors LLC now owns 4,038 shares of the industrial products company's stock worth $1,340,000 after acquiring an additional 38 shares during the period. Finally, AGH Wealth Advisors LLC grew its stake in shares of Eaton by 2.6% in the first quarter. AGH Wealth Advisors LLC now owns 1,517 shares of the industrial products company's stock worth $412,000 after purchasing an additional 38 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Eaton Trading Up 1.1%

Shares of NYSE:ETN traded up $3.79 during midday trading on Thursday, reaching $361.98. The company had a trading volume of 1,088,135 shares, compared to its average volume of 2,664,244. The company has a fifty day simple moving average of $324.90 and a two-hundred day simple moving average of $312.84. The firm has a market cap of $141.64 billion, a price-to-earnings ratio of 36.53, a price-to-earnings-growth ratio of 2.70 and a beta of 1.17. Eaton Corporation, PLC has a 1-year low of $231.85 and a 1-year high of $379.99. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.84 and a current ratio of 1.31.

Eaton (NYSE:ETN - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share for the quarter, topping analysts' consensus estimates of $2.70 by $0.02. The firm had revenue of $6.38 billion for the quarter, compared to analysts' expectations of $6.26 billion. Eaton had a return on equity of 23.41% and a net margin of 15.55%. Eaton's revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the business posted $2.40 EPS. Research analysts predict that Eaton Corporation, PLC will post 12.02 earnings per share for the current year.

Eaton Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were paid a $1.04 dividend. The ex-dividend date of this dividend was Monday, May 5th. This represents a $4.16 dividend on an annualized basis and a yield of 1.15%. Eaton's dividend payout ratio is currently 41.98%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. BNP Paribas Exane assumed coverage on Eaton in a report on Thursday, May 15th. They set an "outperform" rating and a $380.00 price target on the stock. Royal Bank Of Canada raised their price target on Eaton from $336.00 to $356.00 and gave the company an "outperform" rating in a report on Monday, May 5th. BNP Paribas assumed coverage on Eaton in a report on Thursday, May 15th. They set an "outperform" rating and a $380.00 price target on the stock. Citigroup raised their price target on Eaton from $323.00 to $351.00 and gave the company a "buy" rating in a report on Monday, May 5th. Finally, Jefferies Financial Group lowered their price target on Eaton from $390.00 to $335.00 and set a "buy" rating on the stock in a report on Wednesday, March 12th. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $369.06.

Insider Transactions at Eaton

In other news, 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 completion of the sale, the insider directly owned 3,382 shares of the company's stock, valued at $1,004,014.34. This represents a 38.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Craig Arnold sold 103,486 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $322.75, for a total transaction of $33,400,106.50. Following the sale, the insider owned 490,208 shares of the company's stock, valued at approximately $158,214,632. This represents a 17.43% 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 worth $49,622,894 in the last three months. 0.30% of the stock is currently owned by company 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.