Fulton Bank N.A. Buys 1,917 Shares of Eaton Co. plc (NYSE:ETN)

Fulton Bank N.A. boosted its stake in shares of Eaton Co. plc (NYSE:ETN) by 36.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,117 shares of the industrial products company’s stock after acquiring an additional 1,917 shares during the period. Fulton Bank N.A.’s holdings in Eaton were worth $2,362,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ETN. Breakwater Investment Management raised its position in 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 in the last quarter. Morse Asset Management Inc bought a new position in shares of Eaton in the 3rd quarter valued at $33,000. West Financial Advisors LLC bought a new stake in shares of Eaton during the 3rd quarter worth $35,000. DT Investment Partners LLC acquired a new stake in Eaton in the third quarter valued at about $37,000. Finally, RPg Family Wealth Advisory LLC bought a new position in Eaton in the third quarter valued at about $44,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Eaton Trading Up 0.4 %

ETN opened at $345.24 on Thursday. The stock has a market cap of $136.44 billion, a PE ratio of 36.73, a price-to-earnings-growth ratio of 2.74 and a beta of 1.06. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. Eaton Co. plc has a twelve month low of $235.67 and a twelve month high of $379.99. The company has a fifty day moving average of $354.74 and a 200-day moving average of $328.57.

Eaton (NYSE:ETN) last issued its quarterly 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 return on equity of 21.97% and a net margin of 15.32%. The firm had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.37 billion. During the same period last year, the business posted $2.47 EPS. The business’s revenue was up 7.9% compared to the same quarter last year. On average, sell-side analysts predict that Eaton Co. plc will post 10.8 EPS for the current year.

Eaton Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 4th were given a dividend of $0.94 per share. This represents a $3.76 annualized dividend 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

In other Eaton 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 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 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 SEC, which is accessible through this hyperlink. Also, insider Craig Arnold sold 61,569 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total value of $22,224,561.93. Following the transaction, the insider now directly owns 506,360 shares in the company, valued at $182,780,769.20. The trade was a 10.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 76,981 shares of company stock worth $27,660,117 in the last quarter. 0.53% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ETN has been the subject of a number of research reports. Evercore ISI cut shares of Eaton from an “outperform” rating to an “inline” rating and increased their target price for the stock from $333.00 to $389.00 in a report on Wednesday, November 13th. Barclays boosted their target price on shares of Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Bank of America increased their price target on Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. 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 report on Friday, January 3rd. Finally, Mizuho lifted their price target on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $369.28.

Eaton 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.