Huntington National Bank Has $21.94 Million Stock Position in Eaton Co. plc (NYSE:ETN)

Huntington National Bank lifted its stake in Eaton Co. plc (NYSE:ETN) by 2.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 66,119 shares of the industrial products company’s stock after purchasing an additional 1,538 shares during the quarter. Huntington National Bank’s holdings in Eaton were worth $21,943,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Flagship Wealth Advisors LLC acquired a new position in Eaton during the 4th quarter worth approximately $27,000. Noble Wealth Management PBC bought a new stake in Eaton in the fourth quarter valued at approximately $30,000. Groupama Asset Managment lifted its holdings in Eaton by 83.2% in the third quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock valued at $31,000 after buying an additional 4,298 shares during the period. Horizon Bancorp Inc. IN raised its position in shares of Eaton by 321.7% in the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 74 shares in the last quarter. Finally, Morse Asset Management Inc acquired a new position in Eaton in the third quarter valued at approximately $33,000. Institutional investors own 82.97% of the company’s stock.

Eaton Trading Up 1.8 %

Shares of ETN opened at $276.77 on Wednesday. The stock has a market capitalization of $108.43 billion, a P/E ratio of 29.13, a PEG ratio of 2.64 and a beta of 1.09. Eaton Co. plc has a twelve month low of $255.65 and a twelve month high of $379.99. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. The firm has a fifty day simple moving average of $302.79 and a two-hundred day simple moving average of $331.23.

Eaton (NYSE:ETN) last released its earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, topping analysts’ consensus estimates 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 period in the previous year, the company earned $2.55 EPS. On average, research analysts anticipate that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 10th were given a $1.04 dividend. This is a positive change from Eaton’s previous quarterly dividend of $0.94. The ex-dividend date was Monday, March 10th. This represents a $4.16 dividend on an annualized basis and a yield of 1.50%. Eaton’s payout ratio is 43.79%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ETN. Melius Research reissued a “hold” rating and set a $373.00 target price on shares of Eaton in a research report on Tuesday, January 28th. KeyCorp upgraded Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 price objective on the stock in a research note on Wednesday, March 12th. JPMorgan Chase & Co. decreased their price objective on Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. Wells Fargo & Company cut their price target on shares of Eaton from $335.00 to $305.00 and set an “equal weight” rating for the company in a report on Wednesday, March 5th. Finally, Jefferies Financial Group decreased their price objective on shares of Eaton from $390.00 to $335.00 and set a “buy” rating on the stock in a research report on Wednesday, March 12th. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, Eaton presently has a consensus rating of “Moderate Buy” and an average 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.