CoreFirst Bank & Trust Invests $984,000 in Eaton Co. plc (NYSE:ETN)

CoreFirst Bank & Trust bought a new stake in Eaton Co. plc (NYSE:ETN - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,965 shares of the industrial products company's stock, valued at approximately $984,000.

A number of other institutional investors have also recently made changes to their positions in ETN. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Eaton by 253.2% in the third 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. Proficio Capital Partners LLC boosted its stake in Eaton by 42,255.3% in the 4th quarter. Proficio Capital Partners LLC now owns 732,323 shares of the industrial products company's stock worth $243,036,000 after purchasing an additional 730,594 shares during the period. Janus Henderson Group PLC grew its holdings in 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 buying an additional 597,700 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its position in shares of Eaton by 390.7% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 539,673 shares of the industrial products company's stock valued at $193,421,000 after buying an additional 429,701 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Eaton by 3,508.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 401,728 shares of the industrial products company's stock worth $133,321,000 after buying an additional 390,595 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

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Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Melius lowered shares of 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. Wells Fargo & Company decreased their price target on shares of Eaton from $335.00 to $305.00 and set an "equal weight" rating on the stock in a report on Wednesday, March 5th. StockNews.com cut Eaton from a "buy" rating to a "hold" rating in a research report on Friday, March 21st. JPMorgan Chase & Co. lowered their price target on Eaton from $350.00 to $348.00 and set an "overweight" rating on the stock in a report on Wednesday, January 15th. Finally, Melius Research restated a "hold" rating and issued a $373.00 price objective on shares of Eaton in a research report on Tuesday, January 28th. Eight analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $357.16.

Eaton Trading Down 3.0 %

Shares of Eaton stock traded down $8.41 during midday trading on Friday, reaching $272.51. 1,816,965 shares of the company's stock traded hands, compared to its average volume of 2,530,263. The company has a market cap of $106.76 billion, a PE ratio of 28.70, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. The stock has a 50 day moving average of $307.35 and a 200-day moving average of $331.22. Eaton Co. plc has a 12 month low of $255.65 and a 12 month high of $379.99. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50.

Eaton (NYSE:ETN - Get Free Report) last issued its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 EPS 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 posted $2.55 earnings per share. As a group, equities analysts expect that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 10th will be issued 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 1.53%. Eaton's dividend payout ratio is 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.