CreativeOne Wealth LLC Trims Stake in Eaton Co. plc (NYSE:ETN)

CreativeOne Wealth LLC lessened its holdings in Eaton Co. plc (NYSE:ETN) by 23.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,181 shares of the industrial products company’s stock after selling 662 shares during the quarter. CreativeOne Wealth LLC’s holdings in Eaton were worth $724,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Flagship Wealth Advisors LLC bought a new stake in shares of Eaton during the 4th quarter valued at about $27,000. Noble Wealth Management PBC purchased a new stake in Eaton in the fourth quarter valued at approximately $30,000. Horizon Bancorp Inc. IN lifted its position in Eaton by 321.7% during the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 74 shares during the last quarter. Morse Asset Management Inc purchased a new position in Eaton in the 3rd quarter worth approximately $33,000. Finally, Murphy & Mullick Capital Management Corp bought a new position in shares of Eaton in the 4th quarter worth $33,000. Institutional investors own 82.97% of the company’s stock.

Eaton Stock Down 0.4 %

NYSE ETN opened at $268.15 on Friday. Eaton Co. plc has a 1 year low of $231.85 and a 1 year high of $379.99. The stock has a market capitalization of $105.05 billion, a PE ratio of 28.23, a PEG ratio of 2.64 and a beta of 1.09. 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 business’s 50-day moving average is $285.92 and its 200 day moving average is $325.65.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share 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 period last year, the company posted $2.55 EPS. Sell-side analysts forecast 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. Stockholders of record on Monday, March 10th were given a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 1.55%. This is a boost from Eaton’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend was Monday, March 10th. Eaton’s dividend payout ratio (DPR) is currently 43.79%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on ETN shares. Barclays dropped their price objective on shares of Eaton from $315.00 to $306.00 and set an “equal weight” rating for the company in a report on Friday, April 4th. Jefferies Financial Group cut their price objective on Eaton from $390.00 to $335.00 and set a “buy” rating for the company in a report on Wednesday, March 12th. JPMorgan Chase & Co. decreased their price objective on Eaton from $350.00 to $289.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. KeyCorp cut their target price on Eaton from $340.00 to $325.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Finally, Evercore ISI decreased 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 note on Wednesday, February 19th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Eaton presently has a consensus rating of “Moderate Buy” and a consensus price target of $350.22.

About Eaton

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.