Massmutual Trust Co. FSB ADV Raises Holdings in Eaton Co. plc (NYSE:ETN)

Massmutual Trust Co. FSB ADV lifted its holdings in shares of Eaton Co. plc (NYSE:ETN) by 4.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 22,687 shares of the industrial products company’s stock after purchasing an additional 1,007 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in Eaton were worth $7,519,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the business. Legacy Capital Group California Inc. increased its position in shares of Eaton by 1.2% during the second quarter. Legacy Capital Group California Inc. now owns 2,776 shares of the industrial products company’s stock worth $870,000 after acquiring an additional 32 shares during the last quarter. Well Done LLC increased its holdings in Eaton by 1.3% in the second quarter. Well Done LLC now owns 2,551 shares of the industrial products company’s stock valued at $800,000 after buying an additional 33 shares during the last quarter. J.W. Cole Advisors Inc. increased its holdings in Eaton by 1.7% in 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. Front Row Advisors LLC increased its holdings in Eaton by 0.4% in the second quarter. Front Row Advisors LLC now owns 7,842 shares of the industrial products company’s stock valued at $2,459,000 after buying an additional 35 shares during the last quarter. Finally, Fragasso Group Inc. increased its holdings in Eaton by 3.6% in the first quarter. Fragasso Group Inc. now owns 1,032 shares of the industrial products company’s stock valued at $323,000 after buying an additional 36 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Morgan Stanley assumed coverage on Eaton in a report on Friday, September 6th. They issued an “overweight” rating and a $370.00 price objective for the company. Barclays boosted their price objective on Eaton from $319.00 to $327.00 and gave the company an “equal weight” rating in a report on Wednesday. Raymond James lowered their price objective on Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a report on Monday, September 9th. Evercore ISI decreased their target price on Eaton from $357.00 to $333.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. Finally, Royal Bank of Canada decreased their target price on Eaton from $376.00 to $371.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $337.88.

Insider Transactions at Eaton

In related news, Director Dorothy C. Thompson purchased 2,205 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were acquired at an average cost of $300.30 per share, with a total value of $662,161.50. Following the completion of the purchase, the director now owns 2,205 shares of the company’s stock, valued at approximately $662,161.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Dorothy C. Thompson purchased 2,205 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were acquired at an average cost of $300.30 per share, with a total value of $662,161.50. Following the completion of the purchase, the director now owns 2,205 shares of the company’s stock, valued at approximately $662,161.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Heath B. Monesmith sold 49,040 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $301.02, for a total transaction of $14,762,020.80. Following the completion of the transaction, the insider now directly owns 71,262 shares in the company, valued at $21,451,287.24. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,511 shares of company stock valued at $15,809,326. 0.53% of the stock is owned by insiders.

Eaton Price Performance

Shares of NYSE:ETN opened at $327.99 on Thursday. The company’s fifty day moving average is $301.93 and its two-hundred day moving average is $314.34. The company has a quick ratio of 1.07, a current ratio of 1.56 and a debt-to-equity ratio of 0.44. Eaton Co. plc has a 12-month low of $191.82 and a 12-month high of $345.19. The company has a market cap of $131.13 billion, a P/E ratio of 38.72, a price-to-earnings-growth ratio of 2.53 and a beta of 1.01.

Eaton (NYSE:ETN) last announced its earnings results on Thursday, August 1st. The industrial products company reported $2.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.61 by $0.12. Eaton had a net margin of 15.12% and a return on equity of 21.45%. The company had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.35 billion. Equities analysts expect that Eaton Co. plc will post 10.75 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date was Monday, August 5th. Eaton’s dividend payout ratio (DPR) is presently 44.39%.

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.