First Financial Bankshares Inc Buys 1,695 Shares of Eaton Co. plc (NYSE:ETN)

First Financial Bankshares Inc increased its position in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 0.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 212,652 shares of the industrial products company's stock after buying an additional 1,695 shares during the quarter. Eaton accounts for about 1.5% of First Financial Bankshares Inc's portfolio, making the stock its 19th biggest holding. First Financial Bankshares Inc owned about 0.05% of Eaton worth $70,573,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of ETN. United Bank bought a new position in shares of Eaton during the third quarter worth about $258,000. GSA Capital Partners LLP bought a new position in shares of Eaton during the third quarter worth about $295,000. Thrivent Financial for Lutherans grew its holdings in shares of Eaton by 38.7% during the third quarter. Thrivent Financial for Lutherans now owns 80,187 shares of the industrial products company's stock worth $26,576,000 after buying an additional 22,367 shares in the last quarter. Joseph Group Capital Management grew its stake in Eaton by 27.6% in the third quarter. Joseph Group Capital Management now owns 12,849 shares of the industrial products company's stock valued at $4,259,000 after purchasing an additional 2,782 shares in the last quarter. Finally, Aviance Capital Partners LLC grew its stake in Eaton by 1.7% in the third quarter. Aviance Capital Partners LLC now owns 2,026 shares of the industrial products company's stock valued at $671,000 after purchasing an additional 34 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.

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Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ETN. Citigroup decreased their price target on Eaton from $440.00 to $410.00 and set a "buy" rating for the company in a research note on Monday, January 13th. Evercore ISI decreased their price target on Eaton from $382.00 to $326.00 and set an "in-line" rating for the company in a research note on Wednesday, February 19th. Barclays decreased their price target on Eaton from $353.00 to $325.00 and set an "equal weight" rating for the company in a research note on Monday, March 3rd. Melius Research restated a "hold" rating and issued a $373.00 price target on shares of Eaton in a research note on Tuesday, January 28th. Finally, Wells Fargo & Company decreased their price target on Eaton from $335.00 to $305.00 and set an "equal weight" rating for the company in a research note on Wednesday, March 5th. Eight equities research 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 stock presently has an average rating of "Moderate Buy" and an average price target of $357.68.

Eaton Price Performance

NYSE ETN traded up $0.35 during midday trading on Friday, hitting $295.88. The company had a trading volume of 3,188,236 shares, compared to its average volume of 2,404,510. Eaton Co. plc has a twelve month low of $255.65 and a twelve month high of $379.99. The firm has a 50-day moving average price of $311.30 and a 200-day moving average price of $331.67. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $115.92 billion, a PE ratio of 31.14, a P/E/G ratio of 2.64 and a beta of 1.09.

Eaton (NYSE:ETN - Get Free Report) last issued its quarterly earnings results 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 return on equity of 22.62% and a net margin of 15.25%. During the same period last year, the business posted $2.55 EPS. As a group, analysts anticipate that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 10th will be paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.41%. This is a positive change from Eaton's previous quarterly dividend of $0.94. The ex-dividend date is Monday, March 10th. Eaton's dividend payout ratio (DPR) is presently 43.79%.

Eaton Profile

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.