19,433 Shares in Eaton Co. plc (NYSE:ETN) Acquired by Sagespring Wealth Partners LLC

Sagespring Wealth Partners LLC bought a new position in shares of Eaton Co. plc (NYSE:ETN - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 19,433 shares of the industrial products company's stock, valued at approximately $6,449,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Flagship Wealth Advisors LLC acquired a new stake in Eaton in the 4th quarter worth approximately $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 increased its holdings in Eaton by 321.7% in the 4th 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 during the period. Morse Asset Management Inc purchased a new position in Eaton during the 3rd quarter worth approximately $33,000. Finally, Murphy & Mullick Capital Management Corp purchased a new stake in shares of Eaton in the 4th quarter valued at $33,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ETN. KeyCorp reduced their target price on shares of Eaton from $340.00 to $325.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Evercore ISI reduced their price target on Eaton from $382.00 to $326.00 and set an "in-line" rating for the company in a research report on Wednesday, February 19th. Royal Bank of Canada decreased their price objective on shares of Eaton from $405.00 to $376.00 and set an "outperform" rating for the company in a research report on Thursday, March 6th. JPMorgan Chase & Co. decreased their target price on Eaton from $350.00 to $289.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Finally, Barclays lowered their price objective on Eaton from $315.00 to $306.00 and set an "equal weight" rating on the stock in a report on Friday, April 4th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Eaton presently has a consensus rating of "Moderate Buy" and a consensus price target of $350.22.

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Eaton Trading Down 0.3 %

Shares of ETN stock traded down $0.80 on Tuesday, hitting $277.03. 2,216,233 shares of the stock traded hands, compared to its average volume of 2,621,164. Eaton Co. plc has a twelve month low of $231.85 and a twelve month high of $379.99. The stock has a market capitalization of $108.53 billion, a PE ratio of 29.16, a PEG ratio of 2.64 and a beta of 1.09. The firm's 50-day moving average price is $287.83 and its two-hundred day moving average price is $326.48. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50.

Eaton (NYSE:ETN - Get Free Report) last announced its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, topping 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 company posted $2.55 earnings per share. As a group, analysts anticipate that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 10th were issued a dividend of $1.04 per share. The ex-dividend date was Monday, March 10th. This is a boost from Eaton's previous quarterly dividend of $0.94. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.50%. Eaton's dividend payout ratio 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.