Eaton Co. PLC (NYSE:ETN) Shares Sold by Charter Trust Co.

Charter Trust Co. decreased its holdings in shares of Eaton Co. PLC (NYSE:ETN) by 4.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,323 shares of the industrial products company’s stock after selling 147 shares during the period. Charter Trust Co.’s holdings in Eaton were worth $268,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the stock. Princeton Global Asset Management LLC purchased a new stake in Eaton in the fourth quarter worth $317,000. Suntrust Banks Inc. boosted its stake in Eaton by 5.1% during the fourth quarter. Suntrust Banks Inc. now owns 182,110 shares of the industrial products company’s stock valued at $12,504,000 after buying an additional 8,900 shares during the period. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in Eaton during the fourth quarter valued at $589,000. Wells Trecaso Financial Group LLC boosted its stake in Eaton by 1.0% during the first quarter. Wells Trecaso Financial Group LLC now owns 56,523 shares of the industrial products company’s stock valued at $4,553,000 after buying an additional 552 shares during the period. Finally, Legal & General Group Plc raised its position in Eaton by 7.9% during the fourth quarter. Legal & General Group Plc now owns 2,574,900 shares of the industrial products company’s stock valued at $176,771,000 after purchasing an additional 188,259 shares in the last quarter. Institutional investors own 76.66% of the company’s stock.

In related news, insider Joao V. Faria sold 4,301 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $80.00, for a total value of $344,080.00. Following the sale, the insider now directly owns 58,688 shares of the company’s stock, valued at approximately $4,695,040. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dorothy C. Thompson acquired 1,655 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The shares were acquired at an average cost of $78.54 per share, for a total transaction of $129,983.70. The disclosure for this purchase can be found here. Corporate insiders own 0.70% of the company’s stock.

Shares of ETN traded up $0.56 during mid-day trading on Friday, reaching $83.28. The company had a trading volume of 3,083,492 shares, compared to its average volume of 2,171,922. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.47 and a quick ratio of 0.92. The stock’s 50-day moving average is $79.08. Eaton Co. PLC has a 52 week low of $64.46 and a 52 week high of $89.46. The stock has a market capitalization of $35.24 billion, a P/E ratio of 15.45, a price-to-earnings-growth ratio of 1.60 and a beta of 1.46.

Eaton (NYSE:ETN) last released its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.01. The business had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.38 billion. Eaton had a return on equity of 14.56% and a net margin of 10.06%. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.10 EPS. On average, research analysts anticipate that Eaton Co. PLC will post 5.89 earnings per share for the current year.

A number of equities research analysts have weighed in on the company. Bank of America downgraded Eaton from a “buy” rating to a “neutral” rating and set a $88.00 price target on the stock. in a research report on Thursday, April 4th. Barclays restated a “sell” rating and set a $76.00 price target on shares of Eaton in a research report on Thursday, June 6th. Wells Fargo & Co raised their price target on Eaton from $85.00 to $90.00 and gave the company an “outperform” rating in a research report on Monday, March 4th. They noted that the move was a valuation call. Finally, Vertical Research upgraded Eaton from a “hold” rating to a “buy” rating in a report on Monday, March 4th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $87.00.

Eaton Company Profile

Eaton Corporation plc operates as a power management company worldwide. Its Electrical Products segment offers electrical and industrial components, residential products, single phase power quality products, emergency lighting and fire detection products, wiring devices, structural support systems, and circuit protection and lighting products.

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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