Trust Co. of Vermont Sells 1,351 Shares of Eaton Corporation, PLC (NYSE:ETN)

Trust Co. of Vermont trimmed its position in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 3.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,384 shares of the industrial products company's stock after selling 1,351 shares during the period. Trust Co. of Vermont's holdings in Eaton were worth $11,521,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Capital A Wealth Management LLC purchased a new position in shares of Eaton in the fourth quarter valued at about $26,000. Flagship Wealth Advisors LLC purchased a new stake in shares of Eaton during the fourth quarter worth about $27,000. Creative Financial Designs Inc. ADV grew its position in shares of Eaton by 102.0% during the first quarter. Creative Financial Designs Inc. ADV now owns 101 shares of the industrial products company's stock worth $27,000 after purchasing an additional 51 shares in the last quarter. Noble Wealth Management PBC purchased a new stake in shares of Eaton during the fourth quarter worth about $30,000. Finally, Murphy & Mullick Capital Management Corp purchased a new stake in shares of Eaton during the fourth quarter worth about $33,000. Hedge funds and other institutional investors own 82.97% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Jefferies Financial Group cut their target price on Eaton from $390.00 to $335.00 and set a "buy" rating for the company in a research report on Wednesday, March 12th. Citigroup increased their target price on Eaton from $323.00 to $351.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. BNP Paribas assumed coverage on Eaton in a research report on Thursday, May 15th. They set an "outperform" rating and a $380.00 target price for the company. Wells Fargo & Company reissued an "overweight" rating and set a $355.00 price target on shares of Eaton in a research note on Monday, May 5th. Finally, KeyCorp lifted their price objective on Eaton from $325.00 to $355.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $368.78.

Eaton Stock Up 1.9%

Shares of ETN opened at $348.78 on Friday. The company has a market cap of $136.48 billion, a PE ratio of 35.20, a P/E/G ratio of 2.65 and a beta of 1.16. The business has a fifty day moving average of $316.32 and a 200 day moving average of $312.86. Eaton Corporation, PLC has a 52-week low of $231.85 and a 52-week high of $379.99. The company has a quick ratio of 0.84, a current ratio of 1.31 and a debt-to-equity ratio of 0.41.

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 (EPS) for the quarter, topping analysts' consensus estimates of $2.70 by $0.02. The company had revenue of $6.38 billion during the quarter, compared to the consensus estimate 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 period last year, the company earned $2.40 earnings per share. On average, sell-side analysts expect that Eaton Corporation, PLC will post 12.02 EPS for the current year.

Eaton Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 5th were given a dividend of $1.04 per share. The ex-dividend date was Monday, May 5th. This represents a $4.16 annualized dividend and a dividend yield of 1.19%. Eaton's dividend payout ratio (DPR) is 41.98%.

Insider Transactions at Eaton

In other news, insider Michael Yelton sold 2,120 shares of Eaton stock in a transaction on Tuesday, May 6th. The stock was 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 in the company, valued at approximately $1,004,014.34. This trade 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 Eaton stock in a transaction on Monday, May 12th. The stock was sold at an average price of $322.75, for a total value of $33,400,106.50. Following the sale, the insider now owns 490,208 shares of the company's stock, valued at approximately $158,214,632. This trade represents a 17.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 156,660 shares of company stock worth $49,622,894. 0.30% of the stock is currently owned by 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.

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