Renasant Bank Has $1.22 Million Stock Holdings in Eaton Co. plc (NYSE:ETN)

Renasant Bank raised its position in Eaton Co. plc (NYSE:ETN) by 2.1% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 3,676 shares of the industrial products company’s stock after acquiring an additional 76 shares during the period. Renasant Bank’s holdings in Eaton were worth $1,220,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of ETN. United Bank acquired a new position in shares of Eaton during the 3rd quarter worth about $258,000. GSA Capital Partners LLP acquired a new position in Eaton during the third quarter valued at approximately $295,000. MQS Management LLC bought a new position in Eaton in the third quarter valued at approximately $474,000. Cable Hill Partners LLC bought a new position in Eaton in the third quarter valued at approximately $211,000. Finally, Plato Investment Management Ltd increased its position in shares of Eaton by 21.4% during the 3rd quarter. Plato Investment Management Ltd now owns 14,010 shares of the industrial products company’s stock worth $4,639,000 after purchasing an additional 2,466 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Price Performance

Shares of Eaton stock opened at $283.16 on Friday. The stock has a market capitalization of $111.00 billion, a price-to-earnings ratio of 29.81, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. Eaton Co. plc has a twelve month low of $255.65 and a twelve month high of $379.99. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. The company has a 50-day simple moving average of $317.27 and a two-hundred day simple moving average of $331.31.

Eaton (NYSE:ETN) last released its earnings results 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 return on equity of 22.62% and a net margin of 15.25%. During the same quarter in the prior year, the business posted $2.55 earnings per share. Analysts forecast that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Increases Dividend

The company 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. This represents a $4.16 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend is Monday, March 10th. Eaton’s dividend payout ratio (DPR) is currently 43.79%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on ETN shares. KeyCorp raised shares of Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 target price for the company in a research note on Wednesday. Melius downgraded shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 price objective for the company. in a research report on Tuesday, January 28th. Melius Research reiterated a “hold” rating and issued a $373.00 target price on shares of Eaton in a research note on Tuesday, January 28th. Royal Bank of Canada reduced their price target on Eaton from $405.00 to $376.00 and set an “outperform” rating for the company in a report on Thursday, March 6th. Finally, JPMorgan Chase & Co. dropped their price objective on Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, Eaton presently has an average rating of “Moderate Buy” and a consensus price target of $356.20.

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.