First Financial Bankshares Inc Raises Position in Eaton Co. plc (NYSE:ETN)

First Financial Bankshares Inc lifted its stake in Eaton Co. plc (NYSE:ETN) by 2.3% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 210,957 shares of the industrial products company’s stock after purchasing an additional 4,651 shares during the quarter. Eaton comprises 1.5% of First Financial Bankshares Inc’s portfolio, making the stock its 20th biggest holding. First Financial Bankshares Inc owned about 0.05% of Eaton worth $69,920,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of ETN. Sterling Investment Advisors Ltd. increased its position in Eaton by 28.2% during the third quarter. Sterling Investment Advisors Ltd. now owns 7,583 shares of the industrial products company’s stock valued at $2,513,000 after acquiring an additional 1,669 shares during the last quarter. OMNI 360 Wealth Inc. boosted its stake in shares of Eaton by 15.8% during the 3rd quarter. OMNI 360 Wealth Inc. now owns 1,175 shares of the industrial products company’s stock worth $389,000 after purchasing an additional 160 shares during the period. Park Edge Advisors LLC raised its position in Eaton by 42.6% in the 3rd quarter. Park Edge Advisors LLC now owns 3,978 shares of the industrial products company’s stock worth $1,318,000 after purchasing an additional 1,188 shares during the period. J.W. Cole Advisors Inc. lifted its stake in Eaton by 200.1% in the third quarter. J.W. Cole Advisors Inc. now owns 6,162 shares of the industrial products company’s stock worth $2,042,000 after purchasing an additional 4,109 shares during the last quarter. Finally, Barnes Pettey Financial Advisors LLC bought a new stake in Eaton in the third quarter worth about $205,000. Institutional investors own 82.97% of the company’s stock.

Eaton Stock Down 0.2 %

NYSE:ETN opened at $344.49 on Monday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.07 and a current ratio of 1.56. The stock has a market capitalization of $137.14 billion, a P/E ratio of 37.90, a P/E/G ratio of 2.62 and a beta of 1.02. The company’s 50-day simple moving average is $318.89 and its 200-day simple moving average is $317.49. Eaton Co. plc has a fifty-two week low of $193.77 and a fifty-two week high of $349.74.

Eaton (NYSE:ETN) last released its quarterly earnings results on Thursday, August 1st. The industrial products company reported $2.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.61 by $0.12. Eaton had a net margin of 15.12% and a return on equity of 21.45%. The business had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.35 billion. On average, equities analysts anticipate that Eaton Co. plc will post 10.75 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date is Monday, November 4th. Eaton’s dividend payout ratio (DPR) is presently 41.36%.

Analyst Ratings Changes

Several brokerages have recently weighed in on ETN. Barclays increased their price target on Eaton from $319.00 to $327.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 2nd. Royal Bank of Canada decreased their target price on Eaton from $376.00 to $371.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Wolfe Research upgraded shares of Eaton from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Raymond James dropped their target price on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research note on Monday, September 9th. Finally, Morgan Stanley initiated coverage on Eaton in a report on Friday, September 6th. They issued an “overweight” rating and a $370.00 price target for the company. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $340.06.

Insider Transactions at Eaton

In related news, Director Dorothy C. Thompson acquired 2,205 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average cost of $300.30 per share, with a total value of $662,161.50. Following the transaction, the director now directly owns 2,205 shares of the company’s stock, valued at $662,161.50. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Dorothy C. Thompson purchased 2,205 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were acquired at an average price of $300.30 per share, for a total transaction of $662,161.50. Following the purchase, the director now owns 2,205 shares of the company’s stock, valued at $662,161.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Heath B. Monesmith sold 49,040 shares of Eaton stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $301.02, for a total transaction of $14,762,020.80. Following the sale, the insider now owns 71,262 shares of the company’s stock, valued at $21,451,287.24. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,511 shares of company stock worth $15,809,326. Insiders own 0.53% of the company’s stock.

About Eaton

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.