UNIVEST FINANCIAL Corp Makes New $1.11 Million Investment in Eaton Co. plc (NYSE:ETN)

UNIVEST FINANCIAL Corp bought a new position in shares of Eaton Co. plc (NYSE:ETN - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,329 shares of the industrial products company's stock, valued at approximately $1,105,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in ETN. B. Riley Wealth Advisors Inc. lifted its stake in Eaton by 48.9% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 41,106 shares of the industrial products company's stock valued at $13,533,000 after purchasing an additional 13,497 shares during the last quarter. Lighthouse Wealth Management Inc. bought a new position in shares of Eaton in the 4th quarter valued at $297,000. Webster Bank N. A. boosted its holdings in shares of Eaton by 52.4% during the 4th quarter. Webster Bank N. A. now owns 17,925 shares of the industrial products company's stock valued at $5,949,000 after acquiring an additional 6,166 shares in the last quarter. Ballentine Partners LLC grew its position in Eaton by 9.3% during the 4th quarter. Ballentine Partners LLC now owns 9,256 shares of the industrial products company's stock worth $3,072,000 after acquiring an additional 790 shares during the last quarter. Finally, Blue Trust Inc. raised its position in Eaton by 13.2% in the fourth quarter. Blue Trust Inc. now owns 14,494 shares of the industrial products company's stock valued at $4,804,000 after purchasing an additional 1,694 shares during the last quarter. Institutional investors own 82.97% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ETN. Citigroup lowered their price objective on Eaton from $440.00 to $410.00 and set a "buy" rating for the company in a research note on Monday, January 13th. Jefferies Financial Group cut their price target on shares of Eaton from $390.00 to $335.00 and set a "buy" rating on the stock in a report on Wednesday, March 12th. Evercore ISI lowered their target price on Eaton from $382.00 to $326.00 and set an "in-line" rating for the company in a research report on Wednesday, February 19th. KeyCorp upgraded Eaton from a "sector weight" rating to an "overweight" rating and set a $340.00 price target on the stock in a research report on Wednesday, March 12th. Finally, Melius downgraded Eaton from a "buy" rating to a "hold" rating and set a $373.00 price objective for the company. in a research report on Tuesday, January 28th. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Eaton presently has an average rating of "Moderate Buy" and an average price target of $357.16.

Eaton Stock Down 0.8 %

Shares of NYSE ETN traded down $2.19 during trading on Monday, hitting $271.98. 4,882,917 shares of the company traded hands, compared to its average volume of 2,547,203. 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 business's fifty day moving average is $304.41 and its 200 day moving average is $331.44. The firm has a market capitalization of $106.55 billion, a price-to-earnings ratio of 28.63, a P/E/G ratio of 2.64 and a beta of 1.09. Eaton Co. plc has a fifty-two week low of $255.65 and a fifty-two week high of $379.99.

Eaton (NYSE:ETN - Get Free Report) last posted its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, topping analysts' consensus estimates 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 quarter in the prior year, the company posted $2.55 EPS. Equities research analysts predict that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 10th were paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date was Monday, March 10th. This is a positive change from Eaton's previous quarterly dividend of $0.94. Eaton's payout ratio is 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.