OLD Point Trust & Financial Services N A Sells 725 Shares of Eaton Co. plc (NYSE:ETN)

OLD Point Trust & Financial Services N A lessened its position in Eaton Co. plc (NYSE:ETN) by 9.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,302 shares of the industrial products company’s stock after selling 725 shares during the quarter. OLD Point Trust & Financial Services N A’s holdings in Eaton were worth $2,423,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Flagship Wealth Advisors LLC bought a new stake in Eaton in the 4th quarter worth approximately $27,000. Noble Wealth Management PBC bought a new stake in shares of Eaton in the 4th quarter worth approximately $30,000. Groupama Asset Managment boosted 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 in the last quarter. Horizon Bancorp Inc. IN grew its holdings in shares of Eaton by 321.7% during the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 74 shares during the last quarter. Finally, Morse Asset Management Inc purchased a new position in Eaton in the 3rd quarter worth $33,000. Institutional investors own 82.97% of the company’s stock.

Eaton Trading Up 1.3 %

ETN opened at $294.52 on Thursday. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. Eaton Co. plc has a 52 week low of $255.65 and a 52 week high of $379.99. The stock has a market cap of $115.45 billion, a PE ratio of 31.00, a PEG ratio of 2.64 and a beta of 1.09. The business has a 50 day moving average of $313.21 and a 200-day moving average of $331.40.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 EPS 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 quarter last year, the company earned $2.55 earnings per share. Equities research analysts predict 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. Shareholders 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. The ex-dividend date is Monday, March 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.41%. Eaton’s dividend payout ratio (DPR) is currently 43.79%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Royal Bank of Canada reduced their price objective on Eaton from $405.00 to $376.00 and set an “outperform” rating on the stock in a research note on Thursday, March 6th. JPMorgan Chase & Co. reduced their price target on Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. KeyCorp upgraded Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 price objective for the company in a research report on Wednesday, March 12th. Citigroup cut their target price 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. Finally, Melius Research reissued a “hold” rating and set a $373.00 price target on shares of Eaton in a research report on Tuesday, January 28th. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $357.68.

About Eaton

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.