Baxter Bros Inc. Sells 100 Shares of Eaton Co. plc (NYSE:ETN)

Baxter Bros Inc. trimmed its position in shares of Eaton Co. plc (NYSE:ETN) by 1.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,808 shares of the industrial products company’s stock after selling 100 shares during the period. Baxter Bros Inc.’s holdings in Eaton were worth $2,121,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Eaton by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 36,336,041 shares of the industrial products company’s stock valued at $7,749,751,000 after buying an additional 176,900 shares in the last quarter. FMR LLC boosted its holdings in shares of Eaton by 36.0% during the 3rd quarter. FMR LLC now owns 19,921,979 shares of the industrial products company’s stock valued at $4,248,960,000 after purchasing an additional 5,270,331 shares during the last quarter. Northern Trust Corp grew its position in shares of Eaton by 2.2% during the third quarter. Northern Trust Corp now owns 5,009,435 shares of the industrial products company’s stock valued at $1,068,412,000 after purchasing an additional 109,775 shares in the last quarter. Raymond James & Associates lifted its position in shares of Eaton by 3.8% in the fourth quarter. Raymond James & Associates now owns 3,739,725 shares of the industrial products company’s stock worth $900,600,000 after buying an additional 138,465 shares in the last quarter. Finally, Deutsche Bank AG increased its stake in Eaton by 97.5% in the 3rd quarter. Deutsche Bank AG now owns 1,860,312 shares of the industrial products company’s stock worth $396,767,000 after acquiring an additional 918,422 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Stock Up 2.0 %

Eaton stock traded up $6.15 during midday trading on Friday, hitting $320.50. 1,769,790 shares of the company’s stock were exchanged, compared to its average volume of 2,741,837. Eaton Co. plc has a 12 month low of $165.24 and a 12 month high of $333.05. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.02 and a current ratio of 1.56. The company has a market cap of $128.14 billion, a PE ratio of 37.84, a P/E/G ratio of 2.54 and a beta of 1.06. The firm has a 50-day moving average of $308.68 and a two-hundred day moving average of $261.94.

Eaton (NYSE:ETN) last announced its earnings results on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.28 by $0.12. The business had revenue of $5.94 billion for the quarter, compared to analysts’ expectations of $5.91 billion. Eaton had a return on equity of 20.69% and a net margin of 14.38%. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.88 EPS. As a group, analysts expect that Eaton Co. plc will post 10.45 earnings per share for the current fiscal year.

Eaton Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, May 6th will be given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend is Friday, May 3rd. Eaton’s payout ratio is currently 44.39%.

Insider Activity at Eaton

In related news, insider Heath B. Monesmith sold 13,027 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $291.40, for a total transaction of $3,796,067.80. Following the transaction, the insider now directly owns 69,472 shares of the company’s stock, valued at approximately $20,244,140.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Heath B. Monesmith sold 13,027 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $291.40, for a total transaction of $3,796,067.80. Following the sale, the insider now directly owns 69,472 shares of the company’s stock, valued at $20,244,140.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Peter Denk sold 1,731 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $288.97, for a total value of $500,207.07. Following the completion of the transaction, the insider now owns 5,514 shares of the company’s stock, valued at approximately $1,593,380.58. The disclosure for this sale can be found here. Insiders sold 38,969 shares of company stock valued at $10,904,774 over the last 90 days. Insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on ETN shares. Wolfe Research restated an “underperform” rating and issued a $312.00 price target on shares of Eaton in a research report on Monday, April 8th. Berenberg Bank lifted their price target on Eaton from $200.00 to $345.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. HSBC upped their price objective on Eaton from $240.00 to $280.00 and gave the company a “hold” rating in a research report on Friday. Barclays upgraded Eaton from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $250.00 to $300.00 in a report on Tuesday, April 2nd. Finally, Bank of America raised their price target on Eaton from $320.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $314.27.

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.