Pioneer Trust Bank N A OR Buys 52 Shares of Eaton Co. plc (NYSE:ETN)

Pioneer Trust Bank N A OR lifted its stake in Eaton Co. plc (NYSE:ETN) by 6.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 810 shares of the industrial products company’s stock after purchasing an additional 52 shares during the quarter. Pioneer Trust Bank N A OR’s holdings in Eaton were worth $269,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Eaton Stock Performance

NYSE:ETN opened at $246.36 on Friday. The stock has a 50-day moving average price of $296.43 and a 200 day moving average price of $330.00. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. Eaton Co. plc has a 12-month low of $236.58 and a 12-month high of $379.99. The stock has a market capitalization of $96.52 billion, a P/E ratio of 25.93, 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 (EPS) for the quarter, beating 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 in the previous year, the company earned $2.55 EPS. Equities research analysts forecast that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 10th were issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 1.69%. The ex-dividend date was Monday, March 10th. This is an increase from Eaton’s previous quarterly dividend of $0.94. Eaton’s dividend payout ratio is 43.79%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Evercore ISI decreased their price objective on shares of Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a report on Wednesday, February 19th. StockNews.com lowered shares of Eaton from a “buy” rating to a “hold” rating in a research note on Friday, March 21st. Wells Fargo & Company dropped their price target on Eaton from $335.00 to $305.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 5th. 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, KeyCorp upgraded Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 price target for the company in a research note on Wednesday, March 12th. Eight analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $356.68.

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.