AMG National Trust Bank Has $4.78 Million Stake in Eaton Co., PLC (ETN)

AMG National Trust Bank lifted its stake in Eaton Co., PLC (NYSE:ETN) by 5.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,560 shares of the industrial products company’s stock after buying an additional 2,903 shares during the period. AMG National Trust Bank’s holdings in Eaton were worth $4,784,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of ETN. PGGM Investments boosted its position in shares of Eaton by 142.1% in the third quarter. PGGM Investments now owns 703,839 shares of the industrial products company’s stock worth $54,048,000 after buying an additional 413,096 shares during the period. Miller Howard Investments Inc. NY boosted its position in shares of Eaton by 41.1% in the fourth quarter. Miller Howard Investments Inc. NY now owns 1,077,532 shares of the industrial products company’s stock worth $85,136,000 after buying an additional 313,924 shares during the period. Canada Pension Plan Investment Board boosted its position in shares of Eaton by 91.8% in the third quarter. Canada Pension Plan Investment Board now owns 375,869 shares of the industrial products company’s stock worth $28,863,000 after buying an additional 179,900 shares during the period. Denali Advisors LLC boosted its position in shares of Eaton by 109.6% in the fourth quarter. Denali Advisors LLC now owns 199,978 shares of the industrial products company’s stock worth $15,800,000 after buying an additional 104,569 shares during the period. Finally, Olstein Capital Management L.P. purchased a new stake in shares of Eaton in the fourth quarter worth about $5,531,000. 76.45% of the stock is owned by institutional investors.

In other Eaton news, insider Curtis J. Hutchins sold 14,360 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $78.36, for a total transaction of $1,125,249.60. Following the sale, the insider now owns 26,596 shares in the company, valued at $2,084,062.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Charles E. Golden sold 4,311 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $76.03, for a total value of $327,765.33. Following the sale, the director now owns 20,275 shares in the company, valued at approximately $1,541,508.25. The disclosure for this sale can be found here. Insiders have sold 28,745 shares of company stock worth $2,233,669 in the last 90 days. 0.80% of the stock is currently owned by insiders.

Several brokerages have recently weighed in on ETN. ValuEngine raised Eaton from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Jefferies Group reaffirmed a “hold” rating and issued a $90.00 target price on shares of Eaton in a research report on Friday, February 2nd. Stifel Nicolaus raised Eaton from a “hold” rating to a “buy” rating and upped their target price for the stock from $77.00 to $99.00 in a research report on Sunday, February 4th. Zacks Investment Research raised Eaton from a “sell” rating to a “hold” rating in a research report on Monday, February 5th. Finally, UBS Group began coverage on Eaton in a research report on Tuesday, January 23rd. They issued a “neutral” rating and a $87.00 target price for the company. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $86.93.

Eaton Co., PLC (ETN) opened at $82.67 on Thursday. The company has a market capitalization of $36,054.30, a PE ratio of 12.38, a P/E/G ratio of 1.97 and a beta of 1.39. Eaton Co., PLC has a 1-year low of $69.82 and a 1-year high of $89.85. The company has a quick ratio of 1.13, a current ratio of 1.65 and a debt-to-equity ratio of 0.41.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Thursday, February 1st. The industrial products company reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.04. The firm had revenue of $5.21 billion during the quarter, compared to the consensus estimate of $5.10 billion. Eaton had a return on equity of 12.84% and a net margin of 14.60%. Eaton’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.12 earnings per share. equities analysts forecast that Eaton Co., PLC will post 5.14 EPS for the current fiscal year.

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Eaton Profile

Eaton Corporation (Eaton) is a diversified power management company. It is engaged in the manufacturing of electrical components and systems for power quality, distribution and control; hydraulics components, systems and services for industrial and mobile equipment; aerospace fuel, hydraulics and pneumatic systems for commercial and military use, and truck and automotive drivetrain and powertrain systems for performance, fuel economy and safety.

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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