Huntington National Bank Has $21.41 Million Stake in Eaton Co. plc (NYSE:ETN)

Huntington National Bank reduced its stake in Eaton Co. plc (NYSE:ETN) by 0.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 64,581 shares of the industrial products company’s stock after selling 292 shares during the quarter. Huntington National Bank’s holdings in Eaton were worth $21,405,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital World Investors increased its position in Eaton by 323.8% in the 1st quarter. Capital World Investors now owns 3,192,576 shares of the industrial products company’s stock worth $998,255,000 after buying an additional 2,439,270 shares during the period. International Assets Investment Management LLC increased its position in Eaton by 27,075.5% in the 3rd quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company’s stock worth $355,959,000 after buying an additional 1,070,024 shares during the period. Swedbank AB bought a new position in Eaton in the 2nd quarter worth approximately $225,974,000. Assenagon Asset Management S.A. increased its position in Eaton by 1,604.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 673,579 shares of the industrial products company’s stock worth $211,201,000 after buying an additional 634,059 shares during the period. Finally, Wulff Hansen & CO. increased its position in shares of Eaton by 31,255.0% during the second quarter. Wulff Hansen & CO. now owns 478,164 shares of the industrial products company’s stock valued at $149,928,000 after purchasing an additional 476,639 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ETN has been the topic of a number of research reports. Royal Bank of Canada restated an “outperform” rating and set a $374.00 price objective on shares of Eaton in a research report on Friday, November 1st. Evercore ISI cut Eaton from an “outperform” rating to an “inline” rating and upped their price target for the company from $333.00 to $389.00 in a research report on Wednesday. Wells Fargo & Company upped their price target on Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Wolfe Research upgraded Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Finally, Morgan Stanley began coverage on Eaton in a research note on Friday, September 6th. They issued an “overweight” rating and a $370.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Eaton currently has a consensus rating of “Moderate Buy” and an average price target of $357.83.

Eaton Stock Up 0.2 %

Shares of Eaton stock opened at $369.88 on Thursday. Eaton Co. plc has a 1 year low of $223.87 and a 1 year high of $373.49. The business has a 50-day moving average of $331.19 and a two-hundred day moving average of $320.50. The company has a market capitalization of $146.18 billion, a P/E ratio of 39.35, a price-to-earnings-growth ratio of 2.96 and a beta of 1.01. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. The business had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. Eaton’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period last year, the company earned $2.47 earnings per share. As a group, equities analysts predict that Eaton Co. plc will post 10.79 EPS for the current year.

Eaton Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 4th will be given a dividend of $0.94 per share. The ex-dividend date is Monday, November 4th. This represents a $3.76 annualized dividend and a yield of 1.02%. Eaton’s dividend payout ratio (DPR) is presently 40.00%.

Insider Activity at Eaton

In other Eaton news, Director Karenann K. Terrell acquired 500 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was bought at an average cost of $298.97 per share, with a total value of $149,485.00. Following the completion of the transaction, the director now directly owns 500 shares in the company, valued at approximately $149,485. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Eaton news, Director Karenann K. Terrell acquired 500 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was bought at an average cost of $298.97 per share, with a total value of $149,485.00. Following the completion of the transaction, the director now directly owns 500 shares in the company, valued at approximately $149,485. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Dorothy C. Thompson acquired 2,205 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was acquired at an average cost of $300.30 per share, with a total value of $662,161.50. Following the completion of the transaction, the director now owns 2,205 shares of the company’s stock, valued at approximately $662,161.50. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 68,705 shares of company stock valued at $24,516,346. Insiders own 0.53% of the company’s stock.

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.