OLD Second National Bank of Aurora Sells 2,790 Shares of Eaton Corporation, PLC (NYSE:ETN)

OLD Second National Bank of Aurora decreased its position in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 20.4% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,875 shares of the industrial products company's stock after selling 2,790 shares during the quarter. OLD Second National Bank of Aurora's holdings in Eaton were worth $2,956,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Capital A Wealth Management LLC bought a new position in shares of Eaton in the fourth quarter worth about $26,000. Flagship Wealth Advisors LLC purchased a new stake in shares of Eaton during the 4th quarter worth approximately $27,000. Noble Wealth Management PBC purchased a new stake in Eaton during the fourth quarter valued at $30,000. Murphy & Mullick Capital Management Corp bought a new position in shares of Eaton in the 4th quarter valued at about $33,000. Finally, Vermillion Wealth Management Inc. bought a new stake in shares of Eaton in the 4th quarter valued at approximately $33,000. Institutional investors own 82.97% of the company's stock.

Analyst Upgrades and Downgrades

ETN has been the subject of several recent analyst reports. Evercore ISI boosted their target price on Eaton from $326.00 to $349.00 and gave the company an "in-line" rating in a research report on Monday, May 19th. BNP Paribas Exane began coverage on Eaton in a report on Thursday, May 15th. They set an "outperform" rating and a $380.00 price objective on the stock. BNP Paribas assumed coverage on Eaton in a report on Thursday, May 15th. They issued an "outperform" rating and a $380.00 target price for the company. Wells Fargo & Company restated an "overweight" rating and set a $355.00 price target on shares of Eaton in a research note on Monday, May 5th. Finally, KeyCorp upped their price objective on shares of Eaton from $325.00 to $355.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $368.78.

Insider Transactions at Eaton

In other news, 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 sale, the insider now owns 3,382 shares of the company's stock, valued at $1,004,014.34. This trade represents a 38.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Craig Arnold sold 103,486 shares of the business's stock in a transaction 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 completion of the transaction, the insider now owns 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 have sold 156,660 shares of company stock worth $49,622,894 over the last 90 days. 0.30% of the stock is currently owned by company insiders.

Eaton Trading Up 1.0%

Shares of Eaton stock opened at $333.92 on Friday. The firm's 50 day simple moving average is $309.71 and its two-hundred day simple moving average is $313.95. The firm has a market capitalization of $130.66 billion, a price-to-earnings ratio of 33.70, a PEG ratio of 2.60 and a beta of 1.16. Eaton Corporation, PLC has a 12-month low of $231.85 and a 12-month high of $379.99. The company has a current ratio of 1.31, a quick ratio of 0.84 and a debt-to-equity ratio of 0.41.

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 (EPS) for the quarter, beating the consensus estimate of $2.70 by $0.02. Eaton had a return on equity of 23.41% and a net margin of 15.55%. The firm had revenue of $6.38 billion for 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 revenue was up 7.3% on a year-over-year basis. Analysts predict that Eaton Corporation, PLC will post 12.02 EPS for the current year.

Eaton Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 5th were issued a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 1.25%. The ex-dividend date was Monday, May 5th. Eaton's dividend payout ratio (DPR) is currently 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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