Citizens National Bank Trust Department Sells 502 Shares of Eaton Co. plc (NYSE:ETN)

Citizens National Bank Trust Department cut its stake in Eaton Co. plc (NYSE:ETN) by 1.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,987 shares of the industrial products company’s stock after selling 502 shares during the period. Eaton comprises about 1.9% of Citizens National Bank Trust Department’s investment portfolio, making the stock its 11th largest position. Citizens National Bank Trust Department’s holdings in Eaton were worth $8,956,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently made changes to their positions in ETN. Horizon Bancorp Inc. IN lifted its holdings in Eaton by 321.7% during the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 74 shares in the last quarter. Morse Asset Management Inc acquired a new position in Eaton during the third quarter worth $33,000. Activest Wealth Management grew its holdings in shares of Eaton by 621.4% in the fourth quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 87 shares in the last quarter. DT Investment Partners LLC acquired a new stake in Eaton in the 3rd quarter valued at about $37,000. Finally, Hager Investment Management Services LLC acquired a new position in shares of Eaton during the fourth quarter worth $38,000. 82.97% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ETN. Bank of America raised their price objective on shares of Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Jefferies Financial Group upped their target price on shares of Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a report on Friday, December 6th. Wells Fargo & Company cut their price target on shares of Eaton from $350.00 to $335.00 and set an “equal weight” rating on the stock in a research note on Monday, February 3rd. JPMorgan Chase & Co. cut their price objective on Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. Finally, Melius lowered Eaton from a “buy” rating to a “hold” rating and set a $373.00 price objective for the company. in a research note on Tuesday, January 28th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, Eaton presently has a consensus rating of “Moderate Buy” and an average target price of $366.05.

Eaton Trading Down 1.2 %

ETN opened at $309.31 on Thursday. The stock has a market cap of $122.24 billion, a PE ratio of 32.56, a price-to-earnings-growth ratio of 2.64 and a beta of 1.05. Eaton Co. plc has a twelve month low of $255.65 and a twelve month high of $379.99. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. The company has a fifty day moving average of $334.15 and a 200-day moving average of $332.04.

Eaton (NYSE:ETN) last released its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, beating analysts’ consensus estimates of $2.82 by $0.01. Eaton had a net margin of 15.25% and a return on equity of 22.62%. During the same quarter last year, the company earned $2.55 EPS. On average, sell-side analysts predict that Eaton Co. plc will post 12.03 EPS for the current year.

Insider Activity

In other Eaton news, Director Gregory R. Page sold 10,000 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $355.98, for a total value of $3,559,800.00. Following the completion of the transaction, the director now owns 43,203 shares of the company’s stock, valued at approximately $15,379,403.94. The trade was a 18.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $378.58, for a total value of $534,554.96. Following the completion of the transaction, the insider now directly owns 31,200 shares in the company, valued at $11,811,696. This trade represents a 4.33 % decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is owned by company 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.