Eaton Co. plc (NYSE:ETN) Shares Bought by Huntington National Bank

by · The Markets Daily

Huntington National Bank increased its holdings in shares of Eaton Co. plc (NYSE:ETN – Free Report) by 2.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 66,119 shares of the industrial products company’s stock after acquiring an additional 1,538 shares during the period. Huntington National Bank’s holdings in Eaton were worth $21,943,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in ETN. Flagship Wealth Advisors LLC acquired a new stake in Eaton in the 4th quarter valued at about $27,000. Noble Wealth Management PBC acquired a new position in Eaton during the fourth quarter worth approximately $30,000. Groupama Asset Managment grew its holdings in shares of Eaton by 83.2% during the 3rd quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 4,298 shares during the period. Horizon Bancorp Inc. IN raised 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 valued at $32,000 after buying an additional 74 shares during the period. Finally, Morse Asset Management Inc acquired a new stake in Eaton during the 3rd quarter valued at approximately $33,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Trading Up 1.8 %

NYSE:ETN opened at $276.77 on Wednesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. The business’s 50-day simple moving average is $302.79 and its 200-day simple moving average is $331.23. Eaton Co. plc has a fifty-two week low of $255.65 and a fifty-two week high of $379.99. The stock has a market capitalization of $108.43 billion, a PE ratio of 29.13, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09.

Eaton (NYSE:ETN – Get Free Report) last released its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, beating 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 previous year, the firm earned $2.55 earnings per share. Sell-side analysts expect that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 10th were given a dividend of $1.04 per share. The ex-dividend date of this dividend was Monday, March 10th. This is a boost from Eaton’s previous quarterly dividend of $0.94. This represents a $4.16 annualized dividend and a yield of 1.50%. Eaton’s dividend payout ratio is 43.79%.

Analysts Set New Price Targets

ETN has been the subject of several recent research reports. Melius lowered shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 price target for the company. in a research report on Tuesday, January 28th. Royal Bank of Canada lowered their price target on shares of Eaton from $405.00 to $376.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. StockNews.com lowered Eaton from a “buy” rating to a “hold” rating in a report on Friday, March 21st. JPMorgan Chase & Co. lowered their target price on Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. Finally, Evercore ISI cut their price target on Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a research note on Wednesday, February 19th. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Eaton has a consensus rating of “Moderate Buy” and a consensus price target of $357.16.

View Our Latest Stock Analysis on ETN

Eaton Company Profile

(Free Report)

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.

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