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

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

A number of other large investors have also modified their holdings of the company. Trust Investment Advisors boosted its position in Eaton by 10.6% during the 4th quarter. Trust Investment Advisors now owns 6,579 shares of the industrial products company’s stock worth $2,183,000 after acquiring an additional 628 shares during the period. Murphy & Mullick Capital Management Corp acquired a new stake in Eaton in the fourth quarter worth about $33,000. Meiji Yasuda Asset Management Co Ltd. grew its position in Eaton by 0.6% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 35,780 shares of the industrial products company’s stock valued at $11,874,000 after buying an additional 220 shares in the last quarter. PKS Advisory Services LLC acquired a new position in Eaton during the 4th quarter valued at about $556,000. Finally, Prestige Wealth Management Group LLC raised its position in shares of Eaton by 4.4% during the 4th quarter. Prestige Wealth Management Group LLC now owns 2,004 shares of the industrial products company’s stock worth $665,000 after buying an additional 85 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analysts Set New Price Targets

ETN has been the topic of several research reports. Melius cut shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 price target on the stock. in a research report on Tuesday, January 28th. Jefferies Financial Group decreased their price target 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. Barclays decreased their target price on Eaton from $325.00 to $315.00 and set an “equal weight” rating on the stock in a report on Wednesday. Wells Fargo & Company cut their price objective on Eaton from $335.00 to $305.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 5th. Finally, Evercore ISI decreased their target price on shares of Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a report on Wednesday, February 19th. Eight investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Eaton presently has a consensus rating of “Moderate Buy” and a consensus target price of $357.16.

Eaton Trading Down 4.8 %

NYSE:ETN opened at $285.60 on Thursday. The company’s 50 day moving average is $308.63 and its 200-day moving average is $331.57. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. Eaton Co. plc has a 12 month low of $255.65 and a 12 month high of $379.99. The firm has a market cap of $111.89 billion, a price-to-earnings ratio of 30.06, a P/E/G ratio of 2.64 and a beta of 1.09.

Eaton (NYSE:ETN) last announced its earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, topping the consensus estimate 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 period in the prior year, the firm posted $2.55 EPS. Equities analysts anticipate that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 10th will be issued a $1.04 dividend. The ex-dividend date is Monday, March 10th. This represents a $4.16 dividend on an annualized basis and a yield of 1.46%. This is a positive change from Eaton’s previous quarterly dividend of $0.94. Eaton’s dividend payout ratio (DPR) 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.