NBT Bank N A NY Sells 703 Shares of Eaton Co. plc (NYSE:ETN)

NBT Bank N A NY lessened its holdings in Eaton Co. plc (NYSE:ETN) by 5.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,746 shares of the industrial products company’s stock after selling 703 shares during the quarter. NBT Bank N A NY’s holdings in Eaton were worth $3,898,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Noble Wealth Management PBC acquired a new position in shares of Eaton during the 4th quarter worth approximately $30,000. Horizon Bancorp Inc. IN grew its position in Eaton by 321.7% during the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock worth $32,000 after buying an additional 74 shares in the last quarter. Morse Asset Management Inc acquired a new position in Eaton in the 3rd quarter valued at $33,000. Activest Wealth Management lifted its position in shares of Eaton by 621.4% during the 4th quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 87 shares during the period. Finally, Hager Investment Management Services LLC acquired a new stake in shares of Eaton during the 4th quarter worth $38,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. UBS Group began coverage on shares of Eaton in a research report on Wednesday, November 13th. They set a “buy” rating and a $431.00 price objective for the company. Evercore ISI decreased their price objective on shares of Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a research note on Wednesday, February 19th. JPMorgan Chase & Co. reduced their target price on Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Melius Research reaffirmed a “hold” rating and set a $373.00 price target on shares of Eaton in a report on Tuesday, January 28th. Finally, Citigroup dropped their price objective on shares of Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $362.58.

Eaton Trading Up 2.8 %

NYSE ETN opened at $285.29 on Monday. The firm has a market capitalization of $111.83 billion, a PE ratio of 30.03, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. The business’s 50-day moving average price is $321.13 and its two-hundred day moving average price is $332.19. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. Eaton Co. plc has a 12 month low of $255.65 and a 12 month high of $379.99.

Eaton (NYSE:ETN) last announced its earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, beating the consensus estimate of $2.82 by $0.01. Eaton had a return on equity of 22.62% and a net margin of 15.25%. During the same period in the previous year, the firm earned $2.55 EPS. On average, analysts expect that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 10th will be paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from Eaton’s previous quarterly dividend of $0.94. Eaton’s dividend payout ratio (DPR) is currently 43.79%.

Insider Activity at Eaton

In other news, Director Gregory R. Page sold 10,000 shares of Eaton stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $355.98, for a total value of $3,559,800.00. Following the completion of the transaction, the director now directly owns 43,203 shares of the company’s stock, valued at approximately $15,379,403.94. This trade represents a 18.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.53% of the stock is owned by company insiders.

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.