OLD Second National Bank of Aurora Sells 79 Shares of Eaton Co. plc (NYSE:ETN)

OLD Second National Bank of Aurora trimmed its stake in Eaton Co. plc (NYSE:ETN) by 0.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,903 shares of the industrial products company’s stock after selling 79 shares during the period. Eaton comprises about 1.1% of OLD Second National Bank of Aurora’s investment portfolio, making the stock its 25th biggest position. OLD Second National Bank of Aurora’s holdings in Eaton were worth $4,608,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also made changes to their positions in ETN. Breakwater Investment Management increased its position in shares of Eaton by 1,560.0% during the second quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 78 shares during the period. Proffitt & Goodson Inc. bought a new stake in Eaton in the 2nd quarter valued at $29,000. LGT Financial Advisors LLC acquired a new position in shares of Eaton in the 2nd quarter valued at $33,000. West Financial Advisors LLC bought a new position in shares of Eaton during the 3rd quarter worth about $35,000. Finally, DiNuzzo Private Wealth Inc. acquired a new stake in shares of Eaton during the 2nd quarter valued at about $37,000. Institutional investors own 82.97% of the company’s stock.

Insiders Place Their Bets

In other news, insider Heath B. Monesmith sold 49,040 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were 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 owns 71,262 shares in the company, valued at $21,451,287.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Heath B. Monesmith sold 49,040 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $301.02, for a total transaction of $14,762,020.80. Following the completion of the transaction, the insider now directly owns 71,262 shares of the company’s stock, valued at $21,451,287.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Karenann K. Terrell bought 500 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was purchased at an average cost of $298.97 per share, for a total transaction of $149,485.00. Following the transaction, the director now owns 500 shares in the company, valued at $149,485. The disclosure for this purchase can be found here. In the last three months, insiders have sold 117,745 shares of company stock worth $39,278,367. Company insiders own 0.33% of the company’s stock.

Eaton Stock Down 0.8 %

Eaton stock opened at $369.05 on Wednesday. The company’s 50 day simple moving average is $331.19 and its 200 day simple moving average is $320.50. 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 has a market capitalization of $145.85 billion, a price-to-earnings ratio of 39.26, a PEG ratio of 2.98 and a beta of 1.01. Eaton Co. plc has a fifty-two week low of $220.24 and a fifty-two week high of $373.49.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, topping the consensus estimate of $2.80 by $0.04. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The business had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.37 billion. During the same quarter last year, the business posted $2.47 EPS. The firm’s revenue was up 7.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Eaton Co. plc will post 10.79 EPS for the current year.

Eaton Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 4th will be paid a dividend of $0.94 per share. The ex-dividend date is Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a yield of 1.02%. Eaton’s payout ratio is 40.00%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Citigroup started coverage on Eaton in a report on Monday, September 16th. They set a “buy” rating and a $348.00 price objective on the stock. Wells Fargo & Company upped their price target on Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Mizuho boosted their target price on shares of Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Morgan Stanley assumed coverage on shares of Eaton in a report on Friday, September 6th. They issued an “overweight” rating and a $370.00 target price on the stock. Finally, Sanford C. Bernstein began coverage on shares of Eaton in a report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 price target for the company. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $346.39.

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.