3,329 Shares in Eaton Co. plc (NYSE:ETN) Purchased by UNIVEST FINANCIAL Corp

UNIVEST FINANCIAL Corp purchased a new stake in Eaton Co. plc (NYSE:ETN) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 3,329 shares of the industrial products company’s stock, valued at approximately $1,105,000.

A number of other hedge funds also recently modified their holdings of ETN. Flagship Wealth Advisors LLC acquired a new stake in shares of Eaton during the 4th quarter valued at about $27,000. Noble Wealth Management PBC acquired a new stake in Eaton during the fourth quarter valued at approximately $30,000. Groupama Asset Managment grew its stake in shares of Eaton by 83.2% in the 3rd quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 4,298 shares during the period. Horizon Bancorp Inc. IN raised its holdings in shares of Eaton by 321.7% in the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock worth $32,000 after buying an additional 74 shares in the last quarter. Finally, Morse Asset Management Inc bought a new position in shares of Eaton during the 3rd quarter worth approximately $33,000. Institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on ETN shares. Evercore ISI dropped their price objective on Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a research note on Wednesday, February 19th. Jefferies Financial Group cut their price target on shares of Eaton from $390.00 to $335.00 and set a “buy” rating for the company in a report on Wednesday, March 12th. Citigroup decreased their price objective on shares of Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Melius downgraded Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price on the stock. in a report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. dropped their price target on Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $357.16.

Eaton Stock Performance

Shares of Eaton stock opened at $285.60 on Thursday. Eaton Co. plc has a 52 week low of $255.65 and a 52 week high of $379.99. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. The stock has a market capitalization of $111.89 billion, a price-to-earnings ratio of 30.06, a PEG ratio of 2.64 and a beta of 1.09. The firm has a fifty day moving average of $308.63 and a two-hundred day moving average of $331.57.

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 the consensus estimate 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 period last year, the business earned $2.55 EPS. As a group, equities research analysts predict 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 paid a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 1.46%. The ex-dividend date is Monday, March 10th. This is an increase from Eaton’s previous quarterly dividend of $0.94. Eaton’s dividend payout ratio 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.