Zions Bancorporation N.A. Grows Position in Eaton Co. plc (NYSE:ETN)

Zions Bancorporation N.A. lifted its holdings in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 17.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,556 shares of the industrial products company's stock after acquiring an additional 2,704 shares during the period. Zions Bancorporation N.A.'s holdings in Eaton were worth $6,158,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Flagship Wealth Advisors LLC purchased a new stake in shares of Eaton in the fourth quarter worth approximately $27,000. Noble Wealth Management PBC bought a new stake in Eaton during the fourth quarter worth $30,000. Horizon Bancorp Inc. IN raised its position in Eaton by 321.7% in the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company's stock valued at $32,000 after buying an additional 74 shares during the last quarter. Morse Asset Management Inc bought a new position in Eaton during the 3rd quarter valued at $33,000. Finally, Activest Wealth Management boosted its holdings in Eaton by 621.4% during the 4th quarter. Activest Wealth Management now owns 101 shares of the industrial products company's stock worth $34,000 after acquiring an additional 87 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Eaton Stock Performance

Shares of NYSE:ETN traded down $6.86 during trading on Friday, hitting $274.05. 3,254,157 shares of the company were exchanged, compared to its average volume of 2,537,860. Eaton Co. plc has a 52-week low of $255.65 and a 52-week high of $379.99. The stock has a 50 day moving average of $305.90 and a 200 day moving average of $331.42. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. The company has a market cap of $107.37 billion, a PE ratio of 28.85, a P/E/G ratio of 2.64 and a beta of 1.09.

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

Eaton Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 10th were paid a dividend of $1.04 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $4.16 annualized dividend and a yield of 1.52%. This is a boost from Eaton's previous quarterly dividend of $0.94. Eaton's payout ratio is currently 43.79%.

Analyst Ratings Changes

A number of research firms recently weighed in on ETN. JPMorgan Chase & Co. dropped their price target on shares of Eaton from $350.00 to $348.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 15th. Wells Fargo & Company cut their target price on Eaton from $335.00 to $305.00 and set an "equal weight" rating on the stock in a research note on Wednesday, March 5th. Royal Bank of Canada decreased their price target on Eaton from $405.00 to $376.00 and set an "outperform" rating for the company in a research report on Thursday, March 6th. Jefferies Financial Group cut their price objective on Eaton from $390.00 to $335.00 and set a "buy" rating on the stock in a research report on Wednesday, March 12th. Finally, Barclays decreased their target price on Eaton from $325.00 to $315.00 and set an "equal weight" rating for the company in a research report on Wednesday. Eight research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $357.16.

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.