4,088 Shares in Eaton Corporation, PLC $ETN Acquired by Farmers National Bank

Farmers National Bank purchased a new stake in Eaton Corporation, PLC (NYSE:ETN) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,088 shares of the industrial products company’s stock, valued at approximately $1,530,000.

Several other hedge funds have also added to or reduced their stakes in the business. Fayez Sarofim & Co raised its position in shares of Eaton by 3.4% in the third quarter. Fayez Sarofim & Co now owns 1,256,177 shares of the industrial products company’s stock valued at $474,444,000 after purchasing an additional 40,792 shares during the period. Williams Jones Wealth Management LLC. boosted its holdings in shares of Eaton by 3.3% during the 3rd quarter. Williams Jones Wealth Management LLC. now owns 515,587 shares of the industrial products company’s stock worth $192,958,000 after buying an additional 16,422 shares during the period. Baird Financial Group Inc. boosted its holdings in shares of Eaton by 8.8% during the 2nd quarter. Baird Financial Group Inc. now owns 370,531 shares of the industrial products company’s stock worth $132,276,000 after buying an additional 29,900 shares during the period. Bartlett & CO. Wealth Management LLC grew its stake in Eaton by 9.8% in the 3rd quarter. Bartlett & CO. Wealth Management LLC now owns 218,072 shares of the industrial products company’s stock valued at $81,613,000 after buying an additional 19,505 shares during the last quarter. Finally, Bowen Hanes & Co. Inc. raised its holdings in Eaton by 1.7% in the 2nd quarter. Bowen Hanes & Co. Inc. now owns 197,775 shares of the industrial products company’s stock valued at $70,604,000 after acquiring an additional 3,295 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Trading Down 1.0%

Shares of NYSE:ETN opened at $360.16 on Thursday. The business’s 50 day simple moving average is $357.88 and its 200 day simple moving average is $355.51. Eaton Corporation, PLC has a 1 year low of $231.85 and a 1 year high of $408.45. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.32 and a quick ratio of 0.81. The company has a market capitalization of $139.74 billion, a P/E ratio of 34.43, a P/E/G ratio of 2.51 and a beta of 1.17.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Thursday, February 26th. The industrial products company reported $3.23 earnings per share for the quarter. Eaton had a return on equity of 25.00% and a net margin of 14.89%. On average, research analysts anticipate that Eaton Corporation, PLC will post 12.02 EPS for the current fiscal year.

Eaton Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Tuesday, March 10th will be paid a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 1.2%. This is a boost from Eaton’s previous quarterly dividend of $1.04. The ex-dividend date of this dividend is Tuesday, March 10th. Eaton’s payout ratio is presently 42.07%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on ETN shares. Wolfe Research upgraded shares of Eaton from a “peer perform” rating to an “outperform” rating and set a $413.00 price objective for the company in a research report on Tuesday, December 9th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Eaton in a research note on Tuesday, January 27th. Jefferies Financial Group initiated coverage on Eaton in a research note on Monday. They issued a “buy” rating and a $430.00 price target for the company. Morgan Stanley reaffirmed an “overweight” rating and issued a $425.00 price objective on shares of Eaton in a report on Wednesday, February 4th. Finally, Citigroup lowered their price objective on Eaton from $442.00 to $435.00 and set a “buy” rating on the stock in a research report on Monday, January 12th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $395.11.

Insiders Place Their Bets

In other Eaton news, insider Sternadt Paulo Ruiz sold 10,707 shares of the stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $390.26, for a total transaction of $4,178,513.82. Following the sale, the insider directly owned 27,729 shares in the company, valued at $10,821,519.54. This represents a 27.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.30% of the stock is owned by corporate insiders.

Eaton Company Profile

Eaton (NYSE: ETN) is a diversified power management company that designs, manufactures and distributes products and systems to manage electrical, hydraulic and mechanical power. The company’s offerings are used to improve energy efficiency, reliability and safety across a wide range of applications, with core capabilities in electrical distribution and control, industrial hydraulics and aerospace systems.

Its product portfolio includes switchgear, circuit breakers, transformers, power distribution units, uninterruptible power supplies and surge protection devices for electrical infrastructure, along with hydraulic pumps, valves and filtration systems for industrial and mobile equipment.