CreativeOne Wealth LLC Has $724,000 Stake in Eaton Co. plc (NYSE:ETN)

CreativeOne Wealth LLC lowered its holdings in Eaton Co. plc (NYSE:ETN) by 23.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm 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 quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Flagship Wealth Advisors LLC bought a new stake in shares of Eaton during the fourth quarter worth about $27,000. Noble Wealth Management PBC bought a new stake in Eaton during the 4th quarter worth approximately $30,000. Horizon Bancorp Inc. IN raised its stake in shares of Eaton by 321.7% in the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 74 shares during the last quarter. Morse Asset Management Inc bought a new position in shares of Eaton in the third quarter valued at approximately $33,000. Finally, Murphy & Mullick Capital Management Corp purchased a new position in shares of Eaton during the fourth quarter valued at approximately $33,000. Institutional investors own 82.97% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on ETN. StockNews.com upgraded Eaton from a “hold” rating to a “buy” rating in a research note on Monday. Barclays dropped their price target on shares of Eaton from $315.00 to $306.00 and set an “equal weight” rating on the stock in a research report on Friday, April 4th. KeyCorp reduced their price objective on shares of Eaton from $340.00 to $325.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. JPMorgan Chase & Co. dropped their target price on shares of Eaton from $350.00 to $289.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Finally, Jefferies Financial Group decreased their price target on Eaton from $390.00 to $335.00 and set a “buy” rating for the company in a research report on Wednesday, March 12th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $350.22.

Eaton Price Performance

ETN opened at $268.15 on Friday. The company has a market capitalization of $105.05 billion, a price-to-earnings ratio of 28.23, a PEG ratio of 2.64 and a beta of 1.09. 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 has a 50-day moving average price of $285.92 and a 200-day moving average price of $325.65. Eaton Co. plc has a twelve month low of $231.85 and a twelve month high of $379.99.

Eaton (NYSE:ETN) last issued its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.82 by $0.01. Eaton had a net margin of 15.25% and a return on equity of 22.62%. During the same quarter in the previous year, the business posted $2.55 EPS. Equities analysts expect that Eaton Co. plc will post 12.02 EPS 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 paid a $1.04 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $4.16 annualized dividend and a yield of 1.55%. This is an increase from Eaton’s previous quarterly dividend of $0.94. Eaton’s dividend payout ratio (DPR) is currently 43.79%.

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.