Sanibel Captiva Trust Company Inc. Has $1.48 Million Holdings in Eaton Co. plc (NYSE:ETN)

Sanibel Captiva Trust Company Inc. lessened its position in shares of Eaton Co. plc (NYSE:ETN) by 8.0% in the second quarter, according to its most recent filing with the SEC. The firm owned 4,716 shares of the industrial products company’s stock after selling 409 shares during the quarter. Sanibel Captiva Trust Company Inc.’s holdings in Eaton were worth $1,479,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Congress Wealth Management LLC DE grew its position in shares of Eaton by 8.1% during the 4th quarter. Congress Wealth Management LLC DE now owns 76,731 shares of the industrial products company’s stock worth $18,479,000 after buying an additional 5,725 shares during the period. Norden Group LLC acquired a new stake in Eaton in the 1st quarter valued at $2,176,000. Weiss Asset Management LP acquired a new stake in Eaton in the 4th quarter valued at $1,001,000. Prospector Partners LLC grew its position in Eaton by 0.6% in the 4th quarter. Prospector Partners LLC now owns 71,307 shares of the industrial products company’s stock valued at $17,172,000 after purchasing an additional 415 shares during the period. Finally, Spire Wealth Management grew its position in Eaton by 66.0% in the 4th quarter. Spire Wealth Management now owns 14,914 shares of the industrial products company’s stock valued at $3,648,000 after purchasing an additional 5,932 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Stock Performance

Shares of Eaton stock traded down $0.81 during trading on Tuesday, hitting $296.24. 1,327,169 shares of the company’s stock traded hands, compared to its average volume of 2,179,795. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.56 and a quick ratio of 1.05. Eaton Co. plc has a 1 year low of $191.82 and a 1 year high of $345.19. The stock has a market capitalization of $118.44 billion, a P/E ratio of 34.98, a PEG ratio of 2.47 and a beta of 1.02. The business has a 50-day simple moving average of $309.70 and a 200-day simple moving average of $309.28.

Eaton Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Monday, August 5th will be issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date is Monday, August 5th. Eaton’s dividend payout ratio is 44.39%.

Insider Buying and Selling at Eaton

In other Eaton news, insider Heath B. Monesmith sold 49,040 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $301.02, for a total value of $14,762,020.80. Following the transaction, the insider now owns 71,262 shares of the company’s stock, valued at $21,451,287.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider Taras G. Jr. Szmagala sold 335 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $288.72, for a total value of $96,721.20. Following the transaction, the insider now owns 9,900 shares of the company’s stock, valued at $2,858,328. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Heath B. Monesmith sold 49,040 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $301.02, for a total value of $14,762,020.80. Following the completion of the transaction, the insider now directly owns 71,262 shares in the company, valued at approximately $21,451,287.24. The disclosure for this sale can be found here. 0.53% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Evercore ISI dropped their price objective on Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a research note on Monday. Wells Fargo & Company lowered their target price on Eaton from $320.00 to $315.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. Royal Bank of Canada cut their price objective on Eaton from $376.00 to $371.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. HSBC boosted their price objective on Eaton from $240.00 to $280.00 and gave the stock a “hold” rating in a report on Friday, May 3rd. Finally, Barclays boosted their target price on Eaton from $318.00 to $319.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $328.00.

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.