NBT Bank N A NY Has $3.90 Million Position in Eaton Co. plc (NYSE:ETN)

NBT Bank N A NY lessened its position in Eaton Co. plc (NYSE:ETN) by 5.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,746 shares of the industrial products company’s stock after selling 703 shares during the period. NBT Bank N A NY’s holdings in Eaton were worth $3,898,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of ETN. Noble Wealth Management PBC acquired a new stake in Eaton during the 4th quarter worth $30,000. Groupama Asset Managment increased its holdings in shares of Eaton by 83.2% in the third quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 4,298 shares in the last quarter. Horizon Bancorp Inc. IN raised its position in shares of 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 purchasing an additional 74 shares during the period. Morse Asset Management Inc bought a new position in shares of Eaton during the 3rd quarter valued at about $33,000. Finally, Activest Wealth Management grew its position in shares of Eaton by 621.4% in the 4th quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 87 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have commented on the stock. Bank of America raised their target price on shares of Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Melius lowered shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 price objective on the stock. in a report on Tuesday, January 28th. Royal Bank of Canada reduced their target price on shares of Eaton from $405.00 to $376.00 and set an “outperform” rating for the company in a research note on Thursday. Barclays dropped their price target on Eaton from $353.00 to $325.00 and set an “equal weight” rating on the stock in a research note on Monday, March 3rd. Finally, JPMorgan Chase & Co. reduced their price objective on Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research report on Wednesday, January 15th. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $362.58.

Eaton Price Performance

Shares of ETN opened at $285.29 on Monday. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. The company’s fifty day simple moving average is $321.13 and its 200 day simple moving average is $332.19. Eaton Co. plc has a 1-year low of $255.65 and a 1-year high of $379.99. The company has a market cap of $111.83 billion, a price-to-earnings ratio of 30.03, a PEG ratio of 2.64 and a beta of 1.09.

Eaton (NYSE:ETN) last released its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, topping the consensus estimate of $2.82 by $0.01. Eaton had a net margin of 15.25% and a return on equity of 22.62%. During the same quarter last year, the firm posted $2.55 EPS. On average, research analysts forecast that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

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

Insider Buying and Selling

In other Eaton news, Director Gregory R. Page sold 10,000 shares of Eaton stock in a transaction on Friday, December 13th. The shares were sold at an average price of $355.98, for a total transaction 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 $15,379,403.94. The trade was a 18.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.53% of the stock is owned by insiders.

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.