1,278 Shares in Eaton Co. plc (NYSE:ETN) Bought by CenterBook Partners LP

CenterBook Partners LP bought a new position in shares of Eaton Co. plc (NYSE:ETN - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,278 shares of the industrial products company's stock, valued at approximately $424,000.

Several other large investors also recently bought and sold shares of ETN. Flagship Wealth Advisors LLC purchased a new stake in shares of Eaton in the fourth quarter valued at $27,000. Noble Wealth Management PBC acquired a new stake in shares of Eaton during the 4th quarter worth about $30,000. Horizon Bancorp Inc. IN grew its holdings in shares of 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 in the last quarter. Morse Asset Management Inc acquired 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 and hedge funds own 82.97% of the company's stock.

Eaton Stock Down 0.3 %

ETN stock traded down $0.80 during midday trading on Tuesday, hitting $277.03. 2,216,233 shares of the company's stock were exchanged, compared to its average volume of 2,621,164. The firm has a 50 day moving average price of $287.83 and a 200-day moving average price of $326.48. Eaton Co. plc has a 12-month low of $231.85 and a 12-month high of $379.99. The stock has a market capitalization of $108.53 billion, a price-to-earnings ratio of 29.16, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46.

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Eaton (NYSE:ETN - Get Free Report) last posted its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 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 prior year, the business posted $2.55 EPS. On average, analysts anticipate that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors 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 1.50%. The ex-dividend date of this dividend was Monday, March 10th. Eaton's dividend payout ratio is currently 43.79%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ETN. Melius Research reiterated a "hold" rating and issued a $373.00 price target on shares of Eaton in a report on Tuesday, January 28th. Jefferies Financial Group reduced their target price on Eaton from $390.00 to $335.00 and set a "buy" rating on the stock in a research report on Wednesday, March 12th. Barclays lowered their price target on Eaton from $315.00 to $306.00 and set an "equal weight" rating for the company in a report on Friday, April 4th. JPMorgan Chase & Co. decreased 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, Melius lowered shares of Eaton from a "buy" rating to a "hold" rating and set a $373.00 price target for the company. in a research report on Tuesday, January 28th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Eaton presently has a consensus rating of "Moderate Buy" and a consensus target price of $350.22.

Eaton Company 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.