Intrust Bank NA Sells 296 Shares of Eaton Co. plc (NYSE:ETN)

Intrust Bank NA trimmed its holdings in shares of Eaton Co. plc (NYSE:ETN) by 3.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 8,135 shares of the industrial products company’s stock after selling 296 shares during the period. Intrust Bank NA’s holdings in Eaton were worth $2,700,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Flagship Wealth Advisors LLC bought a new position in Eaton during the fourth quarter worth about $27,000. Noble Wealth Management PBC acquired a new stake in shares of Eaton during the 4th quarter worth about $30,000. Horizon Bancorp Inc. IN grew its stake 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 acquired a new stake in Eaton during the third quarter worth approximately $33,000. Finally, Murphy & Mullick Capital Management Corp acquired a new position in shares of Eaton in the fourth quarter valued at approximately $33,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ETN has been the topic of several recent research reports. StockNews.com cut Eaton from a “buy” rating to a “hold” rating in a research report on Friday, March 21st. Evercore ISI lowered their price target on shares of Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a research report on Wednesday, February 19th. Royal Bank of Canada cut their price objective on shares of Eaton from $405.00 to $376.00 and set an “outperform” rating for the company in a report on Thursday, March 6th. Jefferies Financial Group decreased their target price on shares of Eaton from $390.00 to $335.00 and set a “buy” rating on the stock in a research report on Wednesday, March 12th. Finally, Melius Research reiterated a “hold” rating and issued a $373.00 price target on shares of Eaton in a research report on Tuesday, January 28th. Eight equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $357.16.

Eaton Price Performance

Eaton stock opened at $274.05 on Friday. 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 cap of $107.37 billion, a price-to-earnings ratio of 28.85, a PEG ratio of 2.64 and a beta of 1.09. Eaton Co. plc has a 12 month low of $255.65 and a 12 month high of $379.99. The business’s 50 day simple moving average is $305.90 and its 200 day simple moving average is $331.12.

Eaton (NYSE:ETN) last posted its 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 net margin of 15.25% and a return on equity of 22.62%. During the same quarter last year, the firm posted $2.55 EPS. Sell-side analysts forecast that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 10th were paid a $1.04 dividend. This is a boost from Eaton’s previous quarterly dividend of $0.94. This represents a $4.16 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date was Monday, March 10th. Eaton’s payout ratio is 43.79%.

Eaton Company 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.