Intrust Bank NA Sells 296 Shares of Eaton Co. plc (NYSE:ETN)

Intrust Bank NA trimmed its holdings in shares of Eaton Co. plc (NYSE:ETN) by 3.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 8,135 shares of the industrial products company’s stock after selling 296 shares during the period. Intrust Bank NA’s holdings in Eaton were worth $2,700,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Eaton by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 37,217,906 shares of the industrial products company’s stock worth $12,351,506,000 after purchasing an additional 99,291 shares during the period. Geode Capital Management LLC lifted its position in shares of Eaton by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 8,069,341 shares of the industrial products company’s stock worth $2,665,342,000 after buying an additional 56,516 shares during the period. Norges Bank acquired a new stake in Eaton in the 4th quarter valued at $1,495,582,000. Franklin Resources Inc. grew its position in Eaton by 15.1% in the third quarter. Franklin Resources Inc. now owns 2,421,626 shares of the industrial products company’s stock valued at $836,938,000 after acquiring an additional 316,830 shares during the period. Finally, Janus Henderson Group PLC raised its stake in Eaton by 32.8% during the third quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company’s stock worth $801,798,000 after acquiring an additional 597,700 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Eaton Stock Performance

Shares of Eaton stock opened at $274.05 on Friday. Eaton Co. plc has a 52 week low of $255.65 and a 52 week high of $379.99. The firm has a fifty day moving average of $305.90 and a two-hundred day moving average of $331.12. 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 $107.37 billion, a price-to-earnings ratio of 28.85, a PEG ratio of 2.64 and a beta of 1.09.

Eaton (NYSE:ETN) last posted its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, topping 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 period last year, the firm 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 business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 10th were paid a $1.04 dividend. The ex-dividend date was Monday, March 10th. This represents a $4.16 dividend on an annualized basis and a yield of 1.52%. This is a positive change from Eaton’s previous quarterly dividend of $0.94. Eaton’s payout ratio is presently 43.79%.

Wall Street Analyst Weigh In

ETN has been the topic of several recent analyst reports. Wells Fargo & Company reduced their target price on shares of Eaton from $335.00 to $305.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 5th. Royal Bank of Canada reduced their price target on shares of Eaton from $405.00 to $376.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. Citigroup dropped their price objective on shares of Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a report on Monday, January 13th. Jefferies Financial Group reduced their target price on Eaton from $390.00 to $335.00 and set a “buy” rating on the stock in a report on Wednesday, March 12th. Finally, JPMorgan Chase & Co. decreased 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. Eight equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $357.16.

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.