Huntington National Bank Buys 1,538 Shares of Eaton Co. plc (NYSE:ETN)

Huntington National Bank raised its position in Eaton Co. plc (NYSE:ETN - Free Report) by 2.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 66,119 shares of the industrial products company's stock after purchasing 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 filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. B. Riley Wealth Advisors Inc. raised its stake in Eaton by 48.9% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 41,106 shares of the industrial products company's stock worth $13,533,000 after buying an additional 13,497 shares during the period. Lighthouse Wealth Management Inc. bought a new position in shares of Eaton during the 4th quarter valued at about $297,000. Webster Bank N. A. grew its position in shares of Eaton by 52.4% in the 4th quarter. Webster Bank N. A. now owns 17,925 shares of the industrial products company's stock valued at $5,949,000 after purchasing an additional 6,166 shares during the period. Ballentine Partners LLC increased its position in shares of Eaton by 9.3% during the fourth quarter. Ballentine Partners LLC now owns 9,256 shares of the industrial products company's stock worth $3,072,000 after acquiring an additional 790 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in Eaton by 13.2% during the 4th quarter. Blue Trust Inc. now owns 14,494 shares of the industrial products company's stock worth $4,804,000 after purchasing an additional 1,694 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

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Eaton Price Performance

Shares of ETN traded down $14.49 during trading hours on Friday, hitting $246.36. 5,286,875 shares of the company were exchanged, compared to its average volume of 2,571,044. The company has a market cap of $96.52 billion, a price-to-earnings ratio of 25.93, a P/E/G ratio of 2.64 and a beta of 1.09. The firm's fifty day moving average is $296.43 and its 200 day moving average is $330.00. Eaton Co. plc has a fifty-two week low of $236.58 and a fifty-two week 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.

Eaton (NYSE:ETN - Get Free Report) last released its earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS 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 last year, the company posted $2.55 EPS. On average, equities 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 announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 10th were issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend was Monday, March 10th. This is an increase from Eaton's previous quarterly dividend of $0.94. Eaton's dividend payout ratio (DPR) is currently 43.79%.

Wall Street Analyst Weigh In

Several research firms have issued reports on ETN. Evercore ISI dropped their price target on shares of Eaton from $382.00 to $326.00 and set an "in-line" rating on the stock in a research report on Wednesday, February 19th. StockNews.com downgraded Eaton from a "buy" rating to a "hold" rating in a research report on Friday, March 21st. Wells Fargo & Company cut their price objective on Eaton from $335.00 to $305.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 5th. Royal Bank of Canada decreased their target price on Eaton from $405.00 to $376.00 and set an "outperform" rating on the stock in a report on Thursday, March 6th. Finally, JPMorgan Chase & Co. dropped their price target on Eaton from $350.00 to $348.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 15th. Eight investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $356.68.

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.