M&T Bank Corp Has $31.67 Million Stock Position in Eaton Co. plc (NYSE:ETN)

M&T Bank Corp lowered its stake in Eaton Co. plc (NYSE:ETN) by 7.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,417 shares of the industrial products company’s stock after selling 7,785 shares during the period. M&T Bank Corp’s holdings in Eaton were worth $31,667,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in ETN. Atria Investments Inc raised its stake in shares of Eaton by 4.9% during the fourth quarter. Atria Investments Inc now owns 54,975 shares of the industrial products company’s stock valued at $18,245,000 after acquiring an additional 2,560 shares during the last quarter. Assetmark Inc. raised its stake in shares of Eaton by 7.6% during the fourth quarter. Assetmark Inc. now owns 33,265 shares of the industrial products company’s stock valued at $11,040,000 after acquiring an additional 2,347 shares during the last quarter. J.Safra Asset Management Corp raised its stake in shares of Eaton by 44.0% during the fourth quarter. J.Safra Asset Management Corp now owns 1,283 shares of the industrial products company’s stock valued at $426,000 after acquiring an additional 392 shares during the last quarter. Triad Wealth Partners LLC bought a new position in shares of Eaton during the fourth quarter valued at $772,000. Finally, Glass Wealth Management Co LLC raised its stake in shares of Eaton by 27.4% during the fourth quarter. Glass Wealth Management Co LLC now owns 4,975 shares of the industrial products company’s stock valued at $1,651,000 after acquiring an additional 1,070 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. dropped their price target on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. Barclays dropped their price target on shares of Eaton from $353.00 to $325.00 and set an “equal weight” rating for the company in a research note on Monday. Wells Fargo & Company dropped their price target on shares of Eaton from $335.00 to $305.00 and set an “equal weight” rating for the company in a research note on Wednesday. Melius downgraded shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price for the company. in a research note on Tuesday, January 28th. Finally, Jefferies Financial Group lifted their target price on shares of Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $363.15.

Insider Activity

In other news, Director Gregory R. Page sold 10,000 shares of Eaton stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the completion of the transaction, the director now directly owns 43,203 shares in the company, valued at $15,379,403.94. This trade represents a 18.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.53% of the company’s stock.

Eaton Trading Up 3.1 %

NYSE:ETN opened at $287.85 on Thursday. 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 stock has a market capitalization of $112.84 billion, a price-to-earnings ratio of 30.30, a PEG ratio of 2.64 and a beta of 1.09. The firm has a fifty day simple moving average of $323.38 and a two-hundred day simple moving average of $332.18. Eaton Co. plc has a 12 month low of $255.65 and a 12 month high of $379.99.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, beating 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 in the previous year, the company earned $2.55 earnings per share. Analysts expect that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 10th will be issued a dividend of $1.04 per share. 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 dividend yield of 1.45%. The ex-dividend date is Monday, March 10th. Eaton’s dividend payout ratio (DPR) is currently 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.