Moody National Bank Trust Division Has $1.80 Million Stock Position in Eaton Co. plc (NYSE:ETN)

Moody National Bank Trust Division decreased its position in shares of Eaton Co. plc (NYSE:ETN) by 3.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,416 shares of the industrial products company’s stock after selling 191 shares during the quarter. Moody National Bank Trust Division’s holdings in Eaton were worth $1,797,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of ETN. Westover Capital Advisors LLC acquired a new position in shares of Eaton during the second quarter valued at about $309,000. Parallel Advisors LLC increased its holdings in Eaton by 4.9% during the 2nd quarter. Parallel Advisors LLC now owns 7,444 shares of the industrial products company’s stock worth $2,334,000 after purchasing an additional 347 shares in the last quarter. Prosperity Consulting Group LLC raised its stake in shares of Eaton by 11.3% in the second quarter. Prosperity Consulting Group LLC now owns 2,221 shares of the industrial products company’s stock worth $696,000 after purchasing an additional 225 shares during the last quarter. J.W. Cole Advisors Inc. boosted its position in shares of Eaton by 1.7% during the second quarter. J.W. Cole Advisors Inc. now owns 2,053 shares of the industrial products company’s stock valued at $644,000 after buying an additional 35 shares during the last quarter. Finally, Lyell Wealth Management LP grew its holdings in Eaton by 6.8% during the second quarter. Lyell Wealth Management LP now owns 1,107 shares of the industrial products company’s stock worth $347,000 after buying an additional 70 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ETN has been the topic of several recent analyst reports. Citigroup dropped their price objective on Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research note on Monday. Bank of America boosted their price target on shares of Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Wells Fargo & Company decreased their price objective on shares of Eaton from $365.00 to $350.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Evercore ISI downgraded Eaton from an “outperform” rating to an “inline” rating and boosted their target price for the stock from $333.00 to $389.00 in a research note on Wednesday, November 13th. Finally, Jefferies Financial Group increased their price target on Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a research report on Friday, December 6th. 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, the stock has a consensus rating of “Moderate Buy” and an average target price of $367.61.

Insiders Place Their Bets

In other Eaton news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the company’s stock in a transaction that occurred 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 $11,811,696. This represents a 4.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gregory R. Page sold 4,000 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the completion of the sale, the director now directly owns 51,422 shares of the company’s stock, valued at $17,241,796.60. This represents a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 76,981 shares of company stock worth $27,660,117 in the last ninety days. 0.53% of the stock is currently owned by insiders.

Eaton Stock Performance

Shares of NYSE ETN traded down $1.78 during mid-day trading on Monday, hitting $339.67. The company had a trading volume of 1,591,830 shares, compared to its average volume of 2,152,964. The stock’s 50-day moving average price is $355.14 and its 200-day moving average price is $328.96. Eaton Co. plc has a 1 year low of $236.04 and a 1 year high of $379.99. The company has a market capitalization of $134.24 billion, a price-to-earnings ratio of 36.14, a P/E/G ratio of 2.70 and a beta of 1.06. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45.

Eaton (NYSE:ETN) last posted its earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $6.37 billion. During the same quarter in the prior year, the firm posted $2.47 EPS. Eaton’s revenue was up 7.9% on a year-over-year basis. On average, sell-side analysts forecast that Eaton Co. plc will post 10.8 earnings per share for the current year.

Eaton Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 4th were given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend was Monday, November 4th. Eaton’s payout ratio is 40.00%.

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.