First Financial Bankshares Inc Has $70.57 Million Position in Eaton Co. plc (NYSE:ETN)

First Financial Bankshares Inc increased its holdings in shares of Eaton Co. plc (NYSE:ETN) by 0.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 212,652 shares of the industrial products company’s stock after purchasing an additional 1,695 shares during the period. Eaton makes up 1.5% of First Financial Bankshares Inc’s portfolio, making the stock its 19th biggest position. First Financial Bankshares Inc owned approximately 0.05% of Eaton worth $70,573,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Geode Capital Management LLC lifted its holdings 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 valued at $2,665,342,000 after purchasing an additional 56,516 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Eaton by 15.1% during the 3rd quarter. Franklin Resources Inc. now owns 2,421,626 shares of the industrial products company’s stock valued at $836,938,000 after purchasing an additional 316,830 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Eaton by 32.8% during the 3rd quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company’s stock valued at $801,798,000 after purchasing an additional 597,700 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Eaton by 253.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,273,685 shares of the industrial products company’s stock valued at $753,590,000 after purchasing an additional 1,629,856 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Eaton by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,255,566 shares of the industrial products company’s stock valued at $748,555,000 after purchasing an additional 37,138 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on ETN shares. KeyCorp raised Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 target price on the stock in a research report on Wednesday, March 12th. Evercore ISI dropped their target price on Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a research report on Wednesday, February 19th. Wells Fargo & Company dropped their target price on Eaton from $335.00 to $305.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 5th. Melius lowered Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price on the stock. in a research report on Tuesday, January 28th. Finally, Barclays dropped their target price on Eaton from $353.00 to $325.00 and set an “equal weight” rating on the stock in a research report on Monday, March 3rd. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $357.68.

Eaton Price Performance

Shares of Eaton stock opened at $290.59 on Wednesday. The company has a 50-day simple moving average of $314.23 and a two-hundred day simple moving average of $331.66. The stock has a market capitalization of $113.91 billion, a price-to-earnings ratio of 30.59, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. 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 twelve month low of $255.65 and a twelve month high of $379.99.

Eaton (NYSE:ETN) last issued its earnings results 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 net margin of 15.25% and a return on equity of 22.62%. During the same period in the previous year, the firm 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. Stockholders of record on Monday, March 10th will be given a $1.04 dividend. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from Eaton’s previous quarterly dividend of $0.94. This represents a $4.16 annualized dividend and a dividend yield of 1.43%. Eaton’s payout ratio is presently 43.79%.

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.