NBT Bank N A NY Boosts Holdings in Eaton Co. plc (NYSE:ETN)

NBT Bank N A NY boosted its position in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 12.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 13,237 shares of the industrial products company's stock after purchasing an additional 1,491 shares during the quarter. NBT Bank N A NY's holdings in Eaton were worth $3,598,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ETN. Strategic Advisors LLC grew its holdings in shares of Eaton by 95.1% during the first quarter. Strategic Advisors LLC now owns 17,947 shares of the industrial products company's stock valued at $4,879,000 after buying an additional 8,749 shares during the last quarter. Chicago Capital LLC lifted its position in Eaton by 0.5% in the 1st quarter. Chicago Capital LLC now owns 67,986 shares of the industrial products company's stock valued at $18,481,000 after acquiring an additional 363 shares in the last quarter. Vivid Wealth Management LLC boosted its stake in Eaton by 13.9% during the 1st quarter. Vivid Wealth Management LLC now owns 7,320 shares of the industrial products company's stock valued at $1,990,000 after purchasing an additional 894 shares during the last quarter. Fortitude Advisory Group L.L.C. increased its holdings in shares of Eaton by 8.5% in the 1st quarter. Fortitude Advisory Group L.L.C. now owns 1,453 shares of the industrial products company's stock worth $391,000 after purchasing an additional 114 shares in the last quarter. Finally, Grove Bank & Trust raised its stake in shares of Eaton by 2.6% in the first quarter. Grove Bank & Trust now owns 4,345 shares of the industrial products company's stock worth $1,181,000 after purchasing an additional 110 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Michael Yelton sold 2,120 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total value of $629,364.40. Following the transaction, the insider now directly owns 3,382 shares of the company's stock, valued at approximately $1,004,014.34. The trade was a 38.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Craig Arnold sold 103,486 shares of Eaton stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $322.75, for a total transaction of $33,400,106.50. Following the sale, the insider now owns 490,208 shares in the company, valued at approximately $158,214,632. The trade was a 17.43% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 156,660 shares of company stock valued at $49,622,894. Company insiders own 0.30% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on ETN shares. Royal Bank of Canada increased their price objective on Eaton from $336.00 to $356.00 and gave the company an "outperform" rating in a research report on Monday, May 5th. BNP Paribas began coverage on shares of Eaton in a report on Thursday, May 15th. They set an "outperform" rating and a $380.00 price target on the stock. Barclays lifted their price target on shares of Eaton from $306.00 to $323.00 and gave the stock an "equal weight" rating in a research note on Monday, June 9th. Evercore ISI increased their price objective on shares of Eaton from $326.00 to $349.00 and gave the company an "in-line" rating in a research report on Monday, May 19th. Finally, JPMorgan Chase & Co. raised their target price on shares of Eaton from $300.00 to $360.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $368.78.

Eaton Price Performance

NYSE ETN opened at $337.95 on Tuesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. The business's fifty day moving average is $306.54 and its 200 day moving average is $313.96. The company has a market capitalization of $132.24 billion, a PE ratio of 35.57, a price-to-earnings-growth ratio of 2.64 and a beta of 1.16. Eaton Co. plc has a fifty-two week low of $231.85 and a fifty-two week high of $379.99.

Eaton (NYSE:ETN - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The industrial products company reported $2.72 earnings per share for the quarter, beating 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 22.62% and a net margin of 15.25%. The business's quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.40 EPS. Sell-side analysts predict that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Investors 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 dividend yield of 1.23%. The ex-dividend date was Monday, May 5th. Eaton's dividend payout ratio (DPR) is 41.98%.

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.

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