First Commonwealth Financial Corp PA Has $431,000 Stock Position in Eaton Co. plc (NYSE:ETN)

First Commonwealth Financial Corp PA boosted its stake in shares of Eaton Co. plc (NYSE:ETN) by 17.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,300 shares of the industrial products company’s stock after purchasing an additional 189 shares during the quarter. First Commonwealth Financial Corp PA’s holdings in Eaton were worth $431,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Flagship Wealth Advisors LLC bought a new stake in shares of Eaton in the fourth quarter valued at about $27,000. Noble Wealth Management PBC bought a new stake in shares of Eaton in the 4th quarter worth approximately $30,000. Horizon Bancorp Inc. IN grew its holdings in shares of Eaton by 321.7% during the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 74 shares in the last quarter. Morse Asset Management Inc bought a new stake in shares of Eaton during the third quarter valued at approximately $33,000. Finally, Murphy & Mullick Capital Management Corp acquired a new position in shares of Eaton in the fourth quarter valued at $33,000. 82.97% of the stock is owned by institutional investors.

Eaton Stock Down 0.4 %

NYSE:ETN opened at $268.15 on Friday. The company has a market cap of $105.05 billion, a price-to-earnings ratio of 28.23, a P/E/G ratio of 2.64 and a beta of 1.09. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. The stock’s fifty day moving average price is $285.92 and its two-hundred day moving average price is $325.65. Eaton Co. plc has a 52-week low of $231.85 and a 52-week high of $379.99.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.82 by $0.01. Eaton had a return on equity of 22.62% and a net margin of 15.25%. During the same quarter last year, the firm earned $2.55 EPS. On average, analysts anticipate that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 10th were issued a $1.04 dividend. This is a positive change from Eaton’s previous quarterly dividend of $0.94. This represents a $4.16 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend was Monday, March 10th. Eaton’s dividend payout ratio is currently 43.79%.

Analysts Set New Price Targets

ETN has been the topic of a number of recent research reports. Citigroup decreased their price target on shares of Eaton from $396.00 to $323.00 and set a “buy” rating on the stock in a research note on Monday. KeyCorp lowered their target price on shares of Eaton from $340.00 to $325.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Melius cut shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 price target for the company. in a research note on Tuesday, January 28th. Melius Research reiterated a “hold” rating and issued a $373.00 price objective on shares of Eaton in a research note on Tuesday, January 28th. Finally, Barclays cut their target price on Eaton from $315.00 to $306.00 and set an “equal weight” rating for the company in a research report on Friday, April 4th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $350.22.

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.