First Financial Bank Trust Division cut its position in Eaton Co. plc (NYSE:ETN) by 4.2% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 60,469 shares of the industrial products company’s stock after selling 2,683 shares during the quarter. First Financial Bank Trust Division’s holdings in Eaton were worth $8,361,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in ETN. Oder Investment Management LLC bought a new stake in Eaton during the fourth quarter worth $25,000. Charter Oak Capital Management LLC acquired a new position in Eaton during the fourth quarter worth about $30,000. Allworth Financial LP lifted its holdings in shares of Eaton by 605.3% in the fourth quarter. Allworth Financial LP now owns 268 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 230 shares during the last quarter. McCarthy Asset Management Inc. acquired a new stake in shares of Eaton in the 4th quarter valued at approximately $34,000. Finally, Peoples Financial Services CORP. grew its holdings in shares of Eaton by 69.0% during the 4th quarter. Peoples Financial Services CORP. now owns 294 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 120 shares during the last quarter. 77.88% of the stock is currently owned by institutional investors and hedge funds.
In other Eaton news, insider Uday Yadav sold 11,769 shares of the firm’s stock in a transaction that occurred on Thursday, February 25th. The stock was sold at an average price of $132.17, for a total value of $1,555,508.73. Following the completion of the sale, the insider now owns 22,436 shares of the company’s stock, valued at $2,965,366.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brian S. Brickhouse sold 22,758 shares of the business’s stock in a transaction that occurred on Wednesday, March 3rd. The shares were sold at an average price of $135.80, for a total value of $3,090,536.40. Following the sale, the insider now owns 15,587 shares of the company’s stock, valued at approximately $2,116,714.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,740 shares of company stock valued at $4,945,066. Insiders own 0.54% of the company’s stock.
Shares of NYSE:ETN traded down $1.12 during midday trading on Thursday, reaching $139.26. The company’s stock had a trading volume of 3,911 shares, compared to its average volume of 2,427,837. Eaton Co. plc has a fifty-two week low of $70.54 and a fifty-two week high of $143.29. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.13 and a current ratio of 1.49. The firm has a 50 day moving average price of $135.27 and a two-hundred day moving average price of $120.14. The firm has a market capitalization of $55.48 billion, a price-to-earnings ratio of 41.29, a PEG ratio of 2.34 and a beta of 1.12.
Eaton (NYSE:ETN) last issued its quarterly earnings results on Monday, February 1st. The industrial products company reported $1.28 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.08. The firm had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.62 billion. Eaton had a return on equity of 11.94% and a net margin of 7.53%. The company’s revenue was down 10.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.37 earnings per share. As a group, research analysts anticipate that Eaton Co. plc will post 4.17 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, March 30th. Shareholders of record on Tuesday, March 16th were issued a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 2.18%. This is a boost from Eaton’s previous quarterly dividend of $0.73. The ex-dividend date was Monday, March 15th. Eaton’s dividend payout ratio (DPR) is presently 53.62%.
Eaton Corporation plc operates as a power management company. Its Electrical Americas and Electrical Global segment provides electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality products, wiring devices, circuit protection products, utility power distribution products, power reliability equipment, and services in North and South America, as well as hazardous duty electrical, emergency lighting, fire detection, explosion-proof instrumentation, and structural support systems internationally.
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