CoreFirst Bank & Trust Purchases New Shares in Eaton Co. plc (NYSE:ETN)

CoreFirst Bank & Trust acquired a new position in shares of Eaton Co. plc (NYSE:ETN) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 2,965 shares of the industrial products company’s stock, valued at approximately $984,000.

Other institutional investors have also recently made changes to their positions in the company. Wetzel Investment Advisors Inc. boosted its stake in shares of Eaton by 0.9% during the fourth quarter. Wetzel Investment Advisors Inc. now owns 3,101 shares of the industrial products company’s stock valued at $1,029,000 after purchasing an additional 28 shares during the period. Westmount Partners LLC raised its holdings in Eaton by 3.1% during the 4th quarter. Westmount Partners LLC now owns 985 shares of the industrial products company’s stock valued at $327,000 after buying an additional 30 shares during the last quarter. Signal Advisors Wealth LLC boosted its position in Eaton by 3.5% during the 4th quarter. Signal Advisors Wealth LLC now owns 896 shares of the industrial products company’s stock valued at $297,000 after buying an additional 30 shares during the period. Lantz Financial LLC grew its holdings in Eaton by 4.8% in the 4th quarter. Lantz Financial LLC now owns 659 shares of the industrial products company’s stock worth $219,000 after acquiring an additional 30 shares during the last quarter. Finally, FARMERS & MERCHANTS TRUST Co OF LONG BEACH raised its stake in shares of Eaton by 2.0% during the fourth quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 1,639 shares of the industrial products company’s stock valued at $544,000 after acquiring an additional 32 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Analyst Ratings Changes

ETN has been the topic of a number of research analyst reports. Wells Fargo & Company reduced their price target on Eaton from $335.00 to $305.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 5th. Evercore ISI decreased their target price on Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a report on Wednesday, February 19th. Citigroup cut their price target on shares of Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Melius Research reaffirmed a “hold” rating and issued a $373.00 target price on shares of Eaton in a research report on Tuesday, January 28th. Finally, Jefferies Financial Group reduced their price target on shares of Eaton from $390.00 to $335.00 and set a “buy” rating on the stock in a research report on Wednesday, March 12th. Eight investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Eaton has a consensus rating of “Moderate Buy” and a consensus target price of $357.68.

Eaton Trading Up 2.7 %

NYSE ETN opened at $303.41 on Tuesday. Eaton Co. plc has a 12 month low of $255.65 and a 12 month high of $379.99. 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 stock’s fifty day moving average price is $310.56 and its 200-day moving average price is $331.79. The stock has a market cap of $118.87 billion, a P/E ratio of 31.94, a P/E/G 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, beating analysts’ consensus estimates 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 company posted $2.55 earnings per share. As a group, equities analysts forecast that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 10th will be issued a $1.04 dividend. This is a positive change from Eaton’s previous quarterly dividend of $0.94. The ex-dividend date is Monday, March 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.37%. Eaton’s dividend payout ratio (DPR) is presently 43.79%.

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.