Cadence Bank Sells 621 Shares of Eaton Co. plc (NYSE:ETN)

Cadence Bank lessened its position in Eaton Co. plc (NYSE:ETN) by 5.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,742 shares of the industrial products company’s stock after selling 621 shares during the quarter. Cadence Bank’s holdings in Eaton were worth $3,560,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Strategic Wealth Partners Ltd. raised its holdings in Eaton by 3.0% in the third quarter. Strategic Wealth Partners Ltd. now owns 1,027 shares of the industrial products company’s stock worth $340,000 after buying an additional 30 shares during the last quarter. Fairfield Financial Advisors LTD raised its holdings in Eaton by 16.2% in the 3rd quarter. Fairfield Financial Advisors LTD now owns 215 shares of the industrial products company’s stock worth $71,000 after acquiring an additional 30 shares during the last quarter. Legacy Capital Group California Inc. lifted its position in Eaton by 1.2% in the 2nd quarter. Legacy Capital Group California Inc. now owns 2,776 shares of the industrial products company’s stock valued at $870,000 after acquiring an additional 32 shares in the last quarter. Venturi Wealth Management LLC boosted its stake in Eaton by 2.1% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,549 shares of the industrial products company’s stock valued at $513,000 after purchasing an additional 32 shares during the last quarter. Finally, Well Done LLC raised its stake in shares of Eaton by 1.3% in the second quarter. Well Done LLC now owns 2,551 shares of the industrial products company’s stock worth $800,000 after purchasing an additional 33 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

ETN has been the subject of several research analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $374.00 price objective on shares of Eaton in a report on Friday, November 1st. Wolfe Research upgraded Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Evercore ISI downgraded Eaton from an “outperform” rating to an “inline” rating and boosted their price target for the company from $333.00 to $389.00 in a research note on Wednesday, November 13th. Mizuho raised their price objective on shares of Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, Barclays cut their price objective on shares of Eaton from $327.00 to $320.00 and set an “equal weight” rating for the company in a research report on Friday, November 1st. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Eaton has an average rating of “Moderate Buy” and an average target price of $357.83.

Eaton Trading Up 0.1 %

Eaton stock opened at $377.23 on Wednesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00. The firm’s 50 day moving average price is $345.46 and its 200-day moving average price is $323.55. Eaton Co. plc has a 1 year low of $224.52 and a 1 year high of $379.99. The stock has a market cap of $149.08 billion, a P/E ratio of 40.13, a PEG ratio of 2.99 and a beta of 1.01.

Eaton (NYSE:ETN) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, beating the consensus estimate of $2.80 by $0.04. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The business had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.37 billion. During the same quarter in the prior year, the firm earned $2.47 EPS. The business’s revenue was up 7.9% on a year-over-year basis. On average, equities analysts predict that Eaton Co. plc will post 10.8 earnings per share for the current fiscal year.

Eaton Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 4th were issued a dividend of $0.94 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $3.76 annualized dividend and a dividend yield of 1.00%. Eaton’s dividend payout ratio (DPR) is 40.00%.

Insider Activity

In other news, insider Craig Arnold sold 61,569 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the transaction, the insider now owns 506,360 shares of the company’s stock, valued at approximately $182,780,769.20. The trade was a 10.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the firm’s stock in a transaction on 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 sale, the insider now owns 31,200 shares of the company’s stock, valued at approximately $11,811,696. This represents a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 70,117 shares of company stock worth $25,050,901. 0.33% of the stock is currently owned by insiders.

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.