Nicolet Bankshares Inc. grew its position in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 30.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,857 shares of the industrial products company's stock after buying an additional 1,354 shares during the quarter. Nicolet Bankshares Inc.'s holdings in Eaton were worth $1,944,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently modified their holdings of the company. Flagship Wealth Advisors LLC bought a new stake in shares of Eaton during the fourth quarter valued at approximately $27,000. Noble Wealth Management PBC acquired a new stake in shares of Eaton in the 4th quarter valued at $30,000. Horizon Bancorp Inc. IN raised its position in shares of Eaton by 321.7% during the fourth 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 during the last quarter. Morse Asset Management Inc acquired a new position in shares of Eaton during the third quarter valued at $33,000. Finally, Murphy & Mullick Capital Management Corp acquired a new stake in Eaton in the fourth quarter worth about $33,000. Institutional investors and hedge funds own 82.97% of the company's stock.
Analyst Upgrades and Downgrades
ETN has been the topic of a number of research reports. Melius Research restated a "hold" rating and set a $373.00 target price on shares of Eaton in a research report on Tuesday, January 28th. Evercore ISI reduced their price objective on shares of Eaton from $382.00 to $326.00 and set an "in-line" rating on the stock in a research note on Wednesday, February 19th. StockNews.com raised shares of Eaton from a "hold" rating to a "buy" rating in a report on Monday. Barclays cut their price target on Eaton from $315.00 to $306.00 and set an "equal weight" rating on the stock in a research note on Friday, April 4th. Finally, KeyCorp decreased their price objective on Eaton from $340.00 to $325.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Eaton currently has an average rating of "Moderate Buy" and a consensus target price of $350.22.
View Our Latest Research Report on Eaton
Eaton Stock Up 0.1 %
ETN stock traded up $0.17 during midday trading on Thursday, hitting $269.33. The company's stock had a trading volume of 1,524,772 shares, compared to its average volume of 2,624,676. The company's fifty day moving average price is $286.96 and its 200 day moving average price is $326.08. Eaton Co. plc has a twelve month low of $231.85 and a twelve month high of $379.99. 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 stock has a market capitalization of $105.52 billion, a P/E ratio of 28.38, a PEG ratio of 2.64 and a beta of 1.09.
Eaton (NYSE:ETN - Get Free Report) last announced its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share (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 quarter in the previous year, the company posted $2.55 EPS. As a group, equities research analysts predict 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. Investors of record on Monday, March 10th were issued a dividend of $1.04 per share. The ex-dividend date of this dividend was Monday, March 10th. This is a positive change from Eaton's previous quarterly dividend of $0.94. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.54%. Eaton's payout ratio is presently 43.79%.
About Eaton
(
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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