Cibc World Market Inc. Purchases 2,940 Shares of Eaton Co. plc (NYSE:ETN)

Cibc World Market Inc. raised its position in Eaton Co. plc (NYSE:ETN) by 5.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 58,651 shares of the industrial products company’s stock after purchasing an additional 2,940 shares during the quarter. Cibc World Market Inc.’s holdings in Eaton were worth $19,465,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Eaton by 35.8% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 48,902 shares of the industrial products company’s stock worth $15,333,000 after acquiring an additional 12,902 shares during the last quarter. Czech National Bank grew its stake in shares of Eaton by 6.4% in the third quarter. Czech National Bank now owns 81,097 shares of the industrial products company’s stock worth $26,879,000 after purchasing an additional 4,912 shares during the last quarter. Unique Wealth LLC increased its holdings in Eaton by 9.6% in the third quarter. Unique Wealth LLC now owns 3,735 shares of the industrial products company’s stock valued at $1,238,000 after purchasing an additional 328 shares during the period. Delta Financial Group Inc. lifted its holdings in Eaton by 15.9% during the 3rd quarter. Delta Financial Group Inc. now owns 1,150 shares of the industrial products company’s stock worth $381,000 after buying an additional 158 shares during the period. Finally, Abacus Wealth Partners LLC grew its position in shares of Eaton by 1.1% in the 3rd quarter. Abacus Wealth Partners LLC now owns 3,460 shares of the industrial products company’s stock valued at $1,147,000 after buying an additional 36 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors.

Eaton Stock Down 0.2 %

Shares of NYSE ETN opened at $326.32 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00. Eaton Co. plc has a 1 year low of $245.65 and a 1 year high of $379.99. The stock has a market capitalization of $128.96 billion, a P/E ratio of 34.72, a P/E/G ratio of 2.21 and a beta of 1.06. The company has a 50-day moving average price of $350.25 and a 200-day moving average price of $331.09.

Eaton (NYSE:ETN) last issued 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 21.97% and a net margin of 15.32%. During the same quarter last year, the company posted $2.55 earnings per share. On average, equities research analysts forecast that Eaton Co. plc will post 10.79 EPS for the current fiscal year.

Insider Activity at Eaton

In other Eaton news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $378.58, for a total value of $534,554.96. Following the completion of the sale, the insider now owns 31,200 shares in the company, valued at approximately $11,811,696. This trade represents a 4.33 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Gregory R. Page sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $355.98, for a total value of $3,559,800.00. Following the completion of the transaction, the director now owns 43,203 shares in the company, valued at $15,379,403.94. The trade was a 18.80 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 72,981 shares of company stock valued at $26,318,917. 0.53% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on ETN shares. Barclays lifted their price objective on Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Citigroup reduced their price objective on shares of Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. UBS Group started coverage on shares of Eaton in a research note on Wednesday, November 13th. They set a “buy” rating and a $431.00 target price for the company. Wells Fargo & Company cut their price target on shares of Eaton from $365.00 to $350.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Finally, Royal Bank of Canada lifted their price objective on Eaton from $374.00 to $392.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $369.30.

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.