Nicolet Advisory Services LLC Grows Stake in Eaton Co. plc (NYSE:ETN)

Nicolet Advisory Services LLC increased its holdings in Eaton Co. plc (NYSE:ETN) by 12.7% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 10,798 shares of the industrial products company’s stock after buying an additional 1,217 shares during the quarter. Nicolet Advisory Services LLC’s holdings in Eaton were worth $3,687,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Flagship Wealth Advisors LLC bought a new stake in shares of Eaton in the 4th quarter worth about $27,000. Noble Wealth Management PBC bought a new position in Eaton during the 4th quarter worth about $30,000. Horizon Bancorp Inc. IN lifted its holdings in 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 buying an additional 74 shares during the period. Morse Asset Management Inc bought a new position in Eaton in the third quarter worth about $33,000. Finally, Murphy & Mullick Capital Management Corp purchased a new stake in Eaton during the fourth quarter valued at approximately $33,000. Institutional investors own 82.97% of the company’s stock.

Eaton Stock Up 2.8 %

Shares of NYSE:ETN opened at $284.40 on Thursday. Eaton Co. plc has a fifty-two week low of $255.65 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. The firm’s 50-day simple moving average is $301.05 and its 200-day simple moving average is $330.91. The company has a market cap of $111.42 billion, a price-to-earnings ratio of 29.94, a PEG ratio of 2.64 and a beta of 1.09.

Eaton (NYSE:ETN) last released its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business posted $2.55 EPS. As a group, equities research analysts predict that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 10th were given a dividend of $1.04 per share. This is a positive change from Eaton’s previous quarterly dividend of $0.94. This represents a $4.16 annualized dividend and a dividend yield of 1.46%. The ex-dividend date of this dividend was Monday, March 10th. Eaton’s payout ratio is presently 43.79%.

Wall Street Analysts Forecast Growth

ETN has been the topic of a number of recent research reports. Royal Bank of Canada dropped their target price on Eaton from $405.00 to $376.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. Melius Research reaffirmed a “hold” rating and set a $373.00 target price on shares of Eaton in a research note on Tuesday, January 28th. Jefferies Financial Group reduced their price objective on Eaton from $390.00 to $335.00 and set a “buy” rating on the stock in a research report on Wednesday, March 12th. Evercore ISI decreased their price objective on Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a report on Wednesday, February 19th. Finally, Barclays decreased their price objective on shares of Eaton from $325.00 to $315.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 26th. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price 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.