Perkins Coie Trust Co Sells 428 Shares of Eaton Co. plc (NYSE:ETN)

Perkins Coie Trust Co decreased its position in shares of Eaton Co. plc (NYSE:ETN) by 1.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 30,437 shares of the industrial products company’s stock after selling 428 shares during the quarter. Eaton comprises about 2.2% of Perkins Coie Trust Co’s investment portfolio, making the stock its 9th largest holding. Perkins Coie Trust Co’s holdings in Eaton were worth $10,101,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Groupama Asset Managment increased its position in Eaton by 83.2% in the 3rd quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 4,298 shares during the period. Horizon Bancorp Inc. IN increased its holdings in shares of 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 during the period. Morse Asset Management Inc bought a new stake in shares of Eaton during the third quarter valued at about $33,000. West Financial Advisors LLC acquired a new stake in Eaton in the third quarter worth about $35,000. Finally, DT Investment Partners LLC bought a new position in Eaton in the 3rd quarter valued at about $37,000. Institutional investors own 82.97% of the company’s stock.

Eaton Trading Up 0.4 %

Eaton stock opened at $346.54 on Friday. Eaton Co. plc has a 52 week low of $236.20 and a 52 week high of $379.99. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53. The firm has a market capitalization of $136.95 billion, a price-to-earnings ratio of 36.87, a P/E/G ratio of 2.27 and a beta of 1.06. The company has a 50 day moving average price of $354.32 and a 200 day moving average price of $329.77.

Eaton (NYSE:ETN) last issued its earnings results 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. The business had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. Eaton’s revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the firm posted $2.47 earnings per share. Research analysts forecast that Eaton Co. plc will post 10.8 EPS for the current year.

Eaton Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 4th were given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend was Monday, November 4th. Eaton’s dividend payout ratio (DPR) is 40.00%.

Insider Activity at Eaton

In related news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $378.58, for a total transaction of $534,554.96. Following the transaction, the insider now owns 31,200 shares of the company’s stock, valued at approximately $11,811,696. This trade represents a 4.33 % decrease in their ownership of the stock. The sale was disclosed in a legal 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 that occurred 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. Over the last three months, insiders have sold 76,981 shares of company stock valued at $27,660,117. Corporate insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. UBS Group initiated coverage on shares of Eaton in a research report on Wednesday, November 13th. They set a “buy” rating and a $431.00 price target on the stock. Royal Bank of Canada upped their target price on Eaton from $374.00 to $392.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Bank of America lifted their price target on Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Barclays upped their price objective on Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Finally, Mizuho lifted their target price on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $368.89.

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.