Farmers & Merchants Trust Co of Chambersburg PA reduced its holdings in shares of Eaton Co. PLC (NYSE:ETN) by 3.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,085 shares of the industrial products company’s stock after selling 710 shares during the quarter. Eaton accounts for 1.5% of Farmers & Merchants Trust Co of Chambersburg PA’s portfolio, making the stock its 21st largest position. Farmers & Merchants Trust Co of Chambersburg PA’s holdings in Eaton were worth $1,537,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in ETN. Highwater Wealth Management LLC bought a new position in Eaton in the 4th quarter valued at about $26,000. Legacy Financial Advisors Inc. grew its position in Eaton by 53.9% in the 4th quarter. Legacy Financial Advisors Inc. now owns 454 shares of the industrial products company’s stock valued at $31,000 after buying an additional 159 shares in the last quarter. Moody National Bank Trust Division grew its position in Eaton by 37.5% in the 4th quarter. Moody National Bank Trust Division now owns 1,217 shares of the industrial products company’s stock valued at $84,000 after buying an additional 332 shares in the last quarter. Financial Architects Inc lifted its holdings in Eaton by 2,675.0% in the 3rd quarter. Financial Architects Inc now owns 1,221 shares of the industrial products company’s stock valued at $106,000 after acquiring an additional 1,177 shares during the last quarter. Finally, Reilly Financial Advisors LLC lifted its holdings in Eaton by 145.3% in the 3rd quarter. Reilly Financial Advisors LLC now owns 1,266 shares of the industrial products company’s stock valued at $110,000 after acquiring an additional 750 shares during the last quarter. Institutional investors own 79.17% of the company’s stock.
A number of brokerages have weighed in on ETN. Robert W. Baird set a $89.00 price target on shares of Eaton and gave the company a “buy” rating in a report on Saturday, February 2nd. Morgan Stanley set a $82.00 price objective on shares of Eaton and gave the company a “hold” rating in a research note on Saturday, February 2nd. Stephens initiated coverage on shares of Eaton in a research note on Monday, November 19th. They set an “overweight” rating and a $96.00 price objective for the company. Zacks Investment Research lowered shares of Eaton from a “hold” rating to a “sell” rating in a research note on Thursday, January 3rd. Finally, Citigroup reduced their price target on shares of Eaton from $92.00 to $88.00 and set a “buy” rating for the company in a research report on Friday, November 2nd. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $86.00.
Shares of ETN stock opened at $77.67 on Thursday. The firm has a market capitalization of $33.12 billion, a P/E ratio of 14.41, a PEG ratio of 1.40 and a beta of 1.45. Eaton Co. PLC has a one year low of $64.46 and a one year high of $89.46. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.47 and a quick ratio of 0.93.
Eaton (NYSE:ETN) last issued its earnings results on Thursday, January 31st. The industrial products company reported $1.46 EPS for the quarter, topping the consensus estimate of $1.43 by $0.03. The firm had revenue of $5.46 billion during the quarter, compared to analysts’ expectations of $5.42 billion. Eaton had a return on equity of 14.06% and a net margin of 9.93%. As a group, sell-side analysts predict that Eaton Co. PLC will post 5.87 earnings per share for the current fiscal year.
Eaton Corporation plc operates as a power management company worldwide. Its Electrical Products segment offers electrical and industrial components, residential products, single phase power quality products, emergency lighting and fire detection products, wiring devices, structural support systems, and circuit protection and lighting products.
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