Eaton Co. plc (NYSE:ETN) Shares Bought by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lifted its position in Eaton Co. plc (NYSE:ETN) by 0.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 46,813 shares of the industrial products company’s stock after buying an additional 159 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Eaton were worth $15,536,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ETN. Groupama Asset Managment grew its position in Eaton by 83.2% in the third quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock worth $31,000 after buying an additional 4,298 shares during the last quarter. Horizon Bancorp Inc. IN lifted its position in shares of Eaton by 321.7% during the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 74 shares during the last quarter. Morse Asset Management Inc bought a new stake in shares of Eaton during the 3rd quarter worth $33,000. Activest Wealth Management grew its holdings in shares of Eaton by 621.4% in the 4th quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 87 shares during the last quarter. Finally, Hager Investment Management Services LLC acquired a new stake in shares of Eaton during the fourth quarter worth $38,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insiders Place Their Bets

In other news, Director Gregory R. Page sold 10,000 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the completion of the sale, the director now owns 43,203 shares in the company, valued at approximately $15,379,403.94. This represents a 18.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.33% of the company’s stock.

Eaton Stock Performance

Shares of ETN stock opened at $290.08 on Friday. Eaton Co. plc has a fifty-two week low of $255.65 and a fifty-two week high of $379.99. The stock’s 50-day moving average is $327.80 and its two-hundred day moving average is $332.26. 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 firm has a market cap of $114.64 billion, a P/E ratio of 30.53, a PEG ratio of 2.64 and a beta of 1.05.

Eaton (NYSE:ETN) last released its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 EPS 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 in the prior year, the company earned $2.55 EPS. Analysts predict that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 10th will be paid a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 1.43%. This is a positive change from Eaton’s previous quarterly dividend of $0.94. Eaton’s payout ratio is presently 39.58%.

Analyst Ratings Changes

ETN has been the subject of a number of recent analyst reports. Melius Research reiterated a “hold” rating and issued a $373.00 price target on shares of Eaton in a research report on Tuesday, January 28th. Citigroup dropped their target price on shares of Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Melius lowered shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 price target on the stock. in a report on Tuesday, January 28th. Royal Bank of Canada reaffirmed an “outperform” rating on shares of Eaton in a research note on Thursday, February 13th. Finally, Mizuho boosted their target price on shares of Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $366.05.

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.