Park National Corp OH lowered its stake in shares of Eaton Co. PLC (NYSE:ETN) by 10.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,727 shares of the industrial products company’s stock after selling 1,134 shares during the period. Park National Corp OH’s holdings in Eaton were worth $784,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its holdings in Eaton by 9.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 6,820,730 shares of the industrial products company’s stock valued at $591,563,000 after acquiring an additional 586,855 shares during the period. Brown Advisory Inc. boosted its position in shares of Eaton by 3.4% during the 3rd quarter. Brown Advisory Inc. now owns 41,219 shares of the industrial products company’s stock worth $3,575,000 after purchasing an additional 1,372 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in Eaton by 13.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 102,229 shares of the industrial products company’s stock valued at $8,866,000 after buying an additional 11,731 shares during the period. GAM Holding AG boosted its position in Eaton by 34.0% in the 3rd quarter. GAM Holding AG now owns 21,698 shares of the industrial products company’s stock valued at $1,882,000 after buying an additional 5,501 shares during the period. Finally, Cpwm LLC purchased a new position in Eaton in the 3rd quarter valued at approximately $1,089,000. 78.14% of the stock is currently owned by hedge funds and other institutional investors.

In other news, insider Curtis J. Hutchins sold 12,000 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $80.60, for a total value of $967,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Curtis J. Hutchins sold 37,625 shares of the company’s stock in a transaction on Thursday, February 7th. The shares were sold at an average price of $76.02, for a total transaction of $2,860,252.50. Following the completion of the transaction, the insider now owns 15,872 shares of the company’s stock, valued at $1,206,589.44. The disclosure for this sale can be found here. Insiders sold 73,214 shares of company stock valued at $5,709,455 in the last three months. Company insiders own 0.70% of the company’s stock.

Shares of ETN stock opened at $82.24 on Tuesday. Eaton Co. PLC has a one year low of $64.46 and a one year high of $89.46. The company has a quick ratio of 0.93, a current ratio of 1.47 and a debt-to-equity ratio of 0.42. The company has a market cap of $34.89 billion, a P/E ratio of 15.26, a P/E/G ratio of 1.49 and a beta of 1.48.

Eaton (NYSE:ETN) last released its quarterly earnings data on Thursday, January 31st. The industrial products company reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.03. Eaton had a net margin of 9.93% and a return on equity of 14.06%. The company had revenue of $5.46 billion during the quarter, compared to analyst estimates of $5.42 billion. Research analysts anticipate that Eaton Co. PLC will post 5.86 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Saturday, March 9th were given a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 3.45%. The ex-dividend date of this dividend was Thursday, March 7th. Eaton’s payout ratio is currently 52.69%.

Several brokerages have commented on ETN. Zacks Investment Research cut shares of Eaton from a “hold” rating to a “sell” rating in a research report on Wednesday, January 23rd. Credit Suisse Group reaffirmed an “outperform” rating and issued a $80.00 price target (down previously from $85.00) on shares of Eaton in a report on Thursday, January 3rd. Barclays reduced their price target on shares of Eaton from $75.00 to $73.00 and set an “underweight” rating on the stock in a report on Monday, January 7th. Vertical Research raised shares of Eaton from a “hold” rating to a “buy” rating in a report on Monday, March 4th. Finally, Wells Fargo & Co upped their price target on shares of Eaton from $85.00 to $90.00 and gave the company an “outperform” rating in a report on Monday, March 4th. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $86.80.

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Eaton 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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