Farmers National Bank Acquires Shares of 4,088 Eaton Corporation, PLC $ETN

Farmers National Bank bought a new stake in Eaton Corporation, PLC (NYSE:ETN) during the third quarter, HoldingsChannel.com reports. The firm bought 4,088 shares of the industrial products company’s stock, valued at approximately $1,530,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Mediolanum International Funds Ltd raised its holdings in shares of Eaton by 93.4% during the 2nd quarter. Mediolanum International Funds Ltd now owns 106,114 shares of the industrial products company’s stock worth $37,483,000 after buying an additional 51,255 shares in the last quarter. Fayez Sarofim & Co grew its position in 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 acquiring an additional 40,792 shares during the last quarter. Baird Financial Group Inc. raised its stake in Eaton by 8.8% during the second quarter. Baird Financial Group Inc. now owns 370,531 shares of the industrial products company’s stock worth $132,276,000 after acquiring an additional 29,900 shares in the last quarter. Resolute Capital Asset Partners LLC acquired a new position in Eaton during the second quarter worth about $8,032,000. Finally, Bartlett & CO. Wealth Management LLC lifted its holdings in shares of Eaton by 9.8% in the third quarter. Bartlett & CO. Wealth Management LLC now owns 218,072 shares of the industrial products company’s stock worth $81,613,000 after acquiring an additional 19,505 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling

In other news, insider Sternadt Paulo Ruiz sold 10,707 shares of the company’s 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 transaction, the insider owned 27,729 shares in the company, valued at approximately $10,821,519.54. This represents a 27.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.30% of the company’s stock.

Eaton Stock Down 1.0%

Shares of NYSE ETN opened at $360.16 on Thursday. The company’s 50 day moving average price is $357.88 and its 200-day moving average price is $355.51. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.81 and a current ratio of 1.32. Eaton Corporation, PLC has a 52-week low of $231.85 and a 52-week high of $408.45. The company has a market capitalization of $139.74 billion, a P/E ratio of 34.43, a price-to-earnings-growth ratio of 2.51 and a beta of 1.17.

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

Eaton Increases Dividend

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Eaton in a report on Tuesday, January 27th. Jefferies Financial Group initiated coverage on shares of Eaton in a research report on Monday. They issued a “buy” rating and a $430.00 target price on the stock. UBS Group reaffirmed a “neutral” rating and set a $360.00 target price (down from $440.00) on shares of Eaton in a research note on Sunday, January 4th. Wolfe Research upgraded shares of Eaton from a “peer perform” rating to an “outperform” rating and set a $413.00 price target for the company in a report on Tuesday, December 9th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $407.00 price target on shares of Eaton in a research note on Wednesday, February 4th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $395.11.

About Eaton

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.