Nicolet Advisory Services LLC Raises Stock Position in Eaton Co. plc (NYSE:ETN)

Nicolet Advisory Services LLC boosted its holdings in Eaton Co. plc (NYSE:ETN) by 12.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,798 shares of the industrial products company’s stock after acquiring an additional 1,217 shares during the period. Nicolet Advisory Services LLC’s holdings in Eaton were worth $3,687,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. OneAscent Financial Services LLC grew its position in Eaton by 3.5% in the fourth quarter. OneAscent Financial Services LLC now owns 3,027 shares of the industrial products company’s stock valued at $1,005,000 after acquiring an additional 102 shares in the last quarter. Huntington National Bank boosted its position in Eaton by 2.4% during the 4th quarter. Huntington National Bank now owns 66,119 shares of the industrial products company’s stock valued at $21,943,000 after purchasing an additional 1,538 shares during the period. RFG Bristol Wealth Advisors LLC bought a new stake in Eaton during the 4th quarter valued at $4,664,000. Meeder Advisory Services Inc. increased its stake in Eaton by 1.9% during the 4th quarter. Meeder Advisory Services Inc. now owns 13,734 shares of the industrial products company’s stock valued at $4,558,000 after buying an additional 261 shares during the period. Finally, Trexquant Investment LP acquired a new stake in shares of Eaton in the fourth quarter valued at $8,349,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Eaton Stock Performance

Shares of Eaton stock opened at $284.40 on Thursday. The business has a 50-day simple moving average of $301.05 and a 200 day simple moving average of $330.91. The firm has a market capitalization of $111.42 billion, a price-to-earnings ratio of 29.94, a PEG ratio of 2.64 and a beta of 1.09. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. Eaton Co. plc has a one year low of $255.65 and a one year high of $379.99.

Eaton (NYSE:ETN) last announced 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 business posted $2.55 EPS. On average, research analysts anticipate that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 10th were paid a dividend of $1.04 per share. The ex-dividend date was Monday, March 10th. This is an increase from Eaton’s previous quarterly dividend of $0.94. This represents a $4.16 annualized dividend and a dividend yield of 1.46%. Eaton’s dividend payout ratio (DPR) is 43.79%.

Analysts Set New Price Targets

ETN has been the subject of a number of research analyst reports. StockNews.com lowered Eaton from a “buy” rating to a “hold” rating in a report on Friday, March 21st. Wells Fargo & Company lowered their price target on shares of Eaton from $335.00 to $305.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 5th. JPMorgan Chase & Co. dropped their price target on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. Melius Research reaffirmed a “hold” rating and set a $373.00 target price on shares of Eaton in a research report on Tuesday, January 28th. Finally, Barclays decreased their price target on shares of Eaton from $325.00 to $315.00 and set an “equal weight” rating for the company in a report on Wednesday, March 26th. Eight equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $357.16.

Eaton 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.