Cullen Frost Bankers Inc. Has $40.46 Million Holdings in Eaton Co. plc (NYSE:ETN)

Cullen Frost Bankers Inc. trimmed its holdings in Eaton Co. plc (NYSE:ETN) by 6.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 167,999 shares of the industrial products company’s stock after selling 11,359 shares during the period. Cullen Frost Bankers Inc.’s holdings in Eaton were worth $40,458,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. EdgeRock Capital LLC acquired a new position in shares of Eaton in the fourth quarter valued at $79,000. Hyman Charles D boosted its holdings in shares of Eaton by 4.3% during the 4th quarter. Hyman Charles D now owns 4,448 shares of the industrial products company’s stock worth $1,071,000 after buying an additional 182 shares during the period. Everpar Advisors LLC acquired a new position in Eaton in the 4th quarter valued at about $710,000. Gryphon Financial Partners LLC raised its holdings in Eaton by 81.3% in the 4th quarter. Gryphon Financial Partners LLC now owns 2,348 shares of the industrial products company’s stock valued at $565,000 after acquiring an additional 1,053 shares during the period. Finally, Patrick M Sweeney & Associates Inc. acquired a new stake in Eaton during the fourth quarter worth approximately $814,000. 82.97% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ETN has been the topic of a number of recent research reports. JPMorgan Chase & Co. increased their target price on Eaton from $279.00 to $325.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. The Goldman Sachs Group boosted their target price on shares of Eaton from $287.00 to $328.00 and gave the company a “buy” rating in a research report on Friday, March 15th. Bank of America raised their price target on shares of Eaton from $320.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Barclays raised shares of Eaton from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $250.00 to $300.00 in a report on Tuesday, April 2nd. Finally, Wolfe Research reaffirmed an “underperform” rating and set a $312.00 target price on shares of Eaton in a report on Monday, April 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $314.27.

Insider Buying and Selling

In other Eaton news, insider Olivier Leonetti sold 4,461 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $272.00, for a total value of $1,213,392.00. Following the sale, the insider now owns 630 shares in the company, valued at $171,360. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Eaton news, insider Olivier Leonetti sold 4,461 shares of the company’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $272.00, for a total value of $1,213,392.00. Following the completion of the transaction, the insider now owns 630 shares of the company’s stock, valued at approximately $171,360. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Heath B. Monesmith sold 13,027 shares of Eaton stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $291.40, for a total value of $3,796,067.80. Following the sale, the insider now directly owns 69,472 shares in the company, valued at $20,244,140.80. The disclosure for this sale can be found here. Insiders sold a total of 38,969 shares of company stock worth $10,904,774 in the last three months. 0.33% of the stock is owned by corporate insiders.

Eaton Price Performance

NYSE ETN traded up $0.06 on Tuesday, hitting $327.30. 1,792,924 shares of the company’s stock were exchanged, compared to its average volume of 2,025,208. The stock has a 50-day moving average of $310.41 and a 200-day moving average of $264.55. The stock has a market cap of $130.85 billion, a price-to-earnings ratio of 38.64, a P/E/G ratio of 2.54 and a beta of 1.06. Eaton Co. plc has a 52 week low of $165.24 and a 52 week high of $333.05. The company has a current ratio of 1.56, a quick ratio of 1.05 and a debt-to-equity ratio of 0.42.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.28 by $0.12. Eaton had a return on equity of 20.69% and a net margin of 14.38%. The business had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.91 billion. During the same period in the prior year, the company earned $1.88 EPS. Eaton’s revenue for the quarter was up 8.4% on a year-over-year basis. Analysts expect that Eaton Co. plc will post 10.45 earnings per share for the current year.

Eaton Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 1.15%. The ex-dividend date is Friday, May 3rd. Eaton’s dividend payout ratio (DPR) is presently 44.39%.

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.