Eaton Co. plc (NYSE:ETN) Shares Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc boosted its stake in Eaton Co. plc (NYSE:ETN) by 4.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 60,587 shares of the industrial products company’s stock after purchasing an additional 2,454 shares during the period. CIBC Asset Management Inc’s holdings in Eaton were worth $20,107,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Groupama Asset Managment raised its holdings in shares of Eaton by 83.2% in the 3rd quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock valued at $31,000 after buying an additional 4,298 shares during the period. Horizon Bancorp Inc. IN grew its position in Eaton by 321.7% in 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 in the last quarter. Morse Asset Management Inc purchased a new stake in Eaton during the third quarter worth about $33,000. Activest Wealth Management lifted its position in shares of Eaton by 621.4% during the fourth quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 87 shares in the last quarter. Finally, DT Investment Partners LLC purchased a new position in shares of Eaton in the third quarter valued at approximately $37,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling

In other Eaton news, insider Ernest W. Marshall, Jr. sold 1,412 shares of Eaton stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $378.58, for a total value of $534,554.96. Following the transaction, the insider now directly owns 31,200 shares in the company, valued at approximately $11,811,696. This trade represents a 4.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gregory R. Page sold 10,000 shares of the company’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 sale, the director now owns 43,203 shares of the company’s stock, valued at $15,379,403.94. This trade represents a 18.80 % decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is owned by company insiders.

Eaton Stock Performance

Shares of ETN stock opened at $309.21 on Tuesday. Eaton Co. plc has a 1 year low of $255.65 and a 1 year high of $379.99. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. The firm has a market cap of $122.20 billion, a price-to-earnings ratio of 32.55, a PEG ratio of 2.37 and a beta of 1.05. The stock’s 50-day moving average is $337.21 and its two-hundred day moving average is $331.89.

Eaton (NYSE:ETN) last released its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, topping the consensus estimate 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 quarter last year, the business earned $2.55 EPS. Analysts predict that Eaton Co. plc will post 12.04 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on ETN shares. Melius Research reiterated a “hold” rating and set a $373.00 target price on shares of Eaton in a report on Tuesday, January 28th. Barclays increased their price objective on Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Jefferies Financial Group upped their price target on Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a report on Friday, December 6th. UBS Group assumed coverage on Eaton in a research note on Wednesday, November 13th. They issued a “buy” rating and a $431.00 price objective for the company. Finally, Wells Fargo & Company cut their target price on shares of Eaton from $350.00 to $335.00 and set an “equal weight” rating on the stock in a research note on Monday, February 3rd. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Eaton has a consensus rating of “Moderate Buy” and a consensus target price of $369.20.

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.