Nicolet Advisory Services LLC Buys 854 Shares of Eaton Corporation, PLC (NYSE:ETN)

Key Points

• Nicolet Advisory Services LLC has increased its stake in Eaton Corporation by 7.9% to $3.16 million, holding a total of 11,652 shares.
• Recent analyst upgrades have resulted in Eaton's stock being rated with a consensus of "Moderate Buy" and an average price target of $377.89.
• Eaton declared a quarterly dividend of $1.04 per share, representing an annualized dividend yield of 1.1% with a payout ratio of 41.98%.

Nicolet Advisory Services LLC increased its stake in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 7.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,652 shares of the industrial products company's stock after acquiring an additional 854 shares during the quarter. Nicolet Advisory Services LLC's holdings in Eaton were worth $3,155,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC grew its position in shares of Eaton by 1.4% in the 4th quarter. Brighton Jones LLC now owns 3,341 shares of the industrial products company's stock worth $1,109,000 after buying an additional 45 shares during the last quarter. Revolve Wealth Partners LLC grew its position in shares of Eaton by 17.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 913 shares of the industrial products company's stock worth $303,000 after buying an additional 136 shares during the last quarter. Bank Pictet & Cie Europe AG bought a new stake in shares of Eaton in the 4th quarter worth approximately $42,839,000. Trexquant Investment LP purchased a new position in shares of Eaton in the 4th quarter valued at approximately $8,349,000. Finally, OneAscent Financial Services LLC lifted its stake in shares of Eaton by 3.5% in the 4th quarter. OneAscent Financial Services LLC now owns 3,027 shares of the industrial products company's stock valued at $1,005,000 after purchasing an additional 102 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Eaton Stock Down 0.8%

Shares of Eaton stock traded down $3.20 on Friday, reaching $381.52. The company's stock had a trading volume of 2,416,764 shares, compared to its average volume of 2,049,141. The company has a market capitalization of $149.29 billion, a price-to-earnings ratio of 38.50, a P/E/G ratio of 2.88 and a beta of 1.18. The firm's fifty day simple moving average is $350.92 and its two-hundred day simple moving average is $317.79. Eaton Corporation, PLC has a 52 week low of $231.85 and a 52 week high of $399.56. The company has a quick ratio of 0.84, a current ratio of 1.31 and a debt-to-equity ratio of 0.41.

Eaton (NYSE:ETN - Get Free Report) last posted its earnings results on Friday, May 2nd. The industrial products company reported $2.72 EPS for the quarter, topping analysts' consensus estimates of $2.70 by $0.02. The business had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.26 billion. Eaton had a return on equity of 23.41% and a net margin of 15.55%. The company's quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.40 EPS. Equities analysts anticipate that Eaton Corporation, PLC will post 12.02 earnings per share for the current year.

Eaton Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Thursday, August 7th will be issued a $1.04 dividend. The ex-dividend date of this dividend is Thursday, August 7th. This represents a $4.16 annualized dividend and a dividend yield of 1.1%. Eaton's payout ratio is presently 41.98%.

Insider Buying and Selling at Eaton

In related news, insider Michael Yelton sold 2,120 shares of Eaton stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total value of $629,364.40. Following the completion of the sale, the insider owned 3,382 shares of the company's stock, valued at $1,004,014.34. The trade was a 38.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Craig Arnold sold 103,486 shares of Eaton stock in a transaction on Monday, May 12th. The stock was sold at an average price of $322.75, for a total value of $33,400,106.50. Following the completion of the sale, the insider directly owned 490,208 shares of the company's stock, valued at $158,214,632. The trade was a 17.43% decrease in their position. The disclosure for this sale can be found here. Insiders sold 156,660 shares of company stock valued at $49,622,894 in the last ninety days. 0.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

ETN has been the subject of a number of research analyst reports. Barclays raised their target price on Eaton from $323.00 to $340.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 9th. Sanford C. Bernstein restated an "outperform" rating and issued a $396.00 target price on shares of Eaton in a research note on Monday, July 14th. BNP Paribas initiated coverage on Eaton in a research note on Thursday, May 15th. They issued an "outperform" rating and a $380.00 target price for the company. BNP Paribas Exane initiated coverage on Eaton in a research note on Thursday, May 15th. They issued an "outperform" rating and a $380.00 target price for the company. Finally, Wells Fargo & Company raised their target price on Eaton from $310.00 to $360.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 1st. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $377.89.

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.