First Financial Bank Trust Division Has $10.21 Million Stock Holdings in Eaton Co. plc (NYSE:ETN)

First Financial Bank Trust Division trimmed its holdings in Eaton Co. plc (NYSE:ETN - Free Report) by 9.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,576 shares of the industrial products company's stock after selling 4,053 shares during the quarter. Eaton comprises 1.0% of First Financial Bank Trust Division's portfolio, making the stock its 23rd largest holding. First Financial Bank Trust Division's holdings in Eaton were worth $10,214,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bearing Point Capital LLC acquired a new stake in Eaton in the fourth quarter worth approximately $2,713,000. New England Research & Management Inc. lifted its position in shares of Eaton by 128.3% during the 4th quarter. New England Research & Management Inc. now owns 3,069 shares of the industrial products company's stock valued at $1,019,000 after acquiring an additional 1,725 shares during the last quarter. McAdam LLC acquired a new stake in shares of Eaton during the 4th quarter valued at $293,000. U.S. Capital Wealth Advisors LLC lifted its position in shares of Eaton by 256.8% during the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 57,521 shares of the industrial products company's stock valued at $19,089,000 after acquiring an additional 41,399 shares during the last quarter. Finally, Generate Investment Management Ltd acquired a new stake in shares of Eaton during the 4th quarter valued at $12,678,000. 82.97% of the stock is owned by institutional investors.

Eaton Stock Down 1.4%

Eaton stock traded down $4.46 during mid-day trading on Friday, hitting $320.35. 3,787,956 shares of the company's stock were exchanged, compared to its average volume of 2,670,431. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. Eaton Co. plc has a 1-year low of $231.85 and a 1-year high of $379.99. The stock has a 50 day moving average of $293.29 and a two-hundred day moving average of $317.53. The stock has a market cap of $125.35 billion, a P/E ratio of 33.72, a P/E/G ratio of 2.64 and a beta of 1.14.

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

Eaton Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date of this dividend was Monday, May 5th. Eaton's dividend payout ratio is 41.98%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on ETN shares. Wall Street Zen upgraded Eaton from a "hold" rating to a "buy" rating in a research report on Sunday, May 18th. KeyCorp increased their price objective on Eaton from $325.00 to $355.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. BNP Paribas initiated coverage on Eaton in a research report on Thursday, May 15th. They set an "outperform" rating and a $380.00 price objective for the company. Citigroup boosted their target price on shares of Eaton from $323.00 to $351.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Finally, Barclays cut their target price on shares of Eaton from $315.00 to $306.00 and set an "equal weight" rating on the stock in a research note on Friday, April 4th. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Eaton presently has an average rating of "Moderate Buy" and a consensus target price of $367.83.

Insiders Place Their Bets

In related news, insider Craig Arnold sold 103,486 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $322.75, for a total value of $33,400,106.50. Following the completion of the sale, the insider now owns 490,208 shares of the company's stock, valued at $158,214,632. This trade represents a 17.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Michael Yelton sold 2,120 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total transaction of $629,364.40. Following the completion of the sale, the insider now directly owns 3,382 shares of the company's stock, valued at approximately $1,004,014.34. This represents a 38.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 156,660 shares of company stock worth $49,622,894 over the last quarter. Company 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.