Assenagon Asset Management S.A. Has $4.64 Million Stake in Eaton Co. plc (NYSE:ETN)

Assenagon Asset Management S.A. increased its position in shares of Eaton Co. plc (NYSE:ETNFree Report) by 66.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,251 shares of the industrial products company’s stock after buying an additional 7,708 shares during the period. Assenagon Asset Management S.A.’s holdings in Eaton were worth $4,636,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in ETN. FMR LLC increased its holdings in shares of Eaton by 36.0% in the third quarter. FMR LLC now owns 19,921,979 shares of the industrial products company’s stock valued at $4,248,960,000 after purchasing an additional 5,270,331 shares during the last quarter. Norges Bank acquired a new position in shares of Eaton in the fourth quarter valued at $798,119,000. Moneta Group Investment Advisors LLC increased its holdings in shares of Eaton by 122,471.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 2,619,350 shares of the industrial products company’s stock valued at $411,107,000 after purchasing an additional 2,617,213 shares during the last quarter. Morgan Stanley increased its holdings in shares of Eaton by 26.2% in the fourth quarter. Morgan Stanley now owns 12,542,343 shares of the industrial products company’s stock valued at $1,968,521,000 after purchasing an additional 2,602,246 shares during the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new position in shares of Eaton in the third quarter valued at $340,500,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on ETN. The Goldman Sachs Group upped their price objective on shares of Eaton from $287.00 to $328.00 and gave the company a “buy” rating in a report on Friday, March 15th. Wells Fargo & Company boosted their target price on shares of Eaton from $220.00 to $257.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 19th. Royal Bank of Canada boosted their target price on shares of Eaton from $246.00 to $286.00 and gave the company a “sector perform” rating in a research report on Thursday, March 14th. Berenberg Bank boosted their target price on shares of Eaton from $200.00 to $345.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Finally, Citigroup boosted their target price on shares of Eaton from $270.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Eaton currently has an average rating of “Moderate Buy” and an average target price of $274.20.

Get Our Latest Stock Report on Eaton

Insider Activity

In other news, insider Olivier Leonetti sold 4,461 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $272.00, for a total value of $1,213,392.00. Following the completion of the transaction, the insider now owns 630 shares of the company’s stock, valued at $171,360. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Eaton news, insider Ernest W. Marshall, Jr. sold 19,750 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $273.17, for a total transaction of $5,395,107.50. Following the completion of the sale, the insider now owns 29,712 shares of the company’s stock, valued at approximately $8,116,427.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Olivier Leonetti sold 4,461 shares of the stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $272.00, for a total transaction of $1,213,392.00. Following the sale, the insider now directly owns 630 shares of the company’s stock, valued at approximately $171,360. The disclosure for this sale can be found here. Insiders sold 38,969 shares of company stock valued at $10,904,774 over the last quarter. 0.53% of the stock is owned by company insiders.

Eaton Stock Down 0.5 %

Shares of NYSE ETN opened at $312.68 on Monday. The company has a current ratio of 1.51, a quick ratio of 1.02 and a debt-to-equity ratio of 0.43. The company has a market cap of $124.92 billion, a price-to-earnings ratio of 38.99, a PEG ratio of 2.59 and a beta of 1.07. Eaton Co. plc has a 12 month low of $155.38 and a 12 month high of $317.02. The stock has a 50-day moving average price of $283.16 and a two-hundred day moving average price of $244.26.

Eaton (NYSE:ETNGet Free Report) last issued its earnings results on Thursday, February 1st. The industrial products company reported $2.55 EPS for the quarter, topping the consensus estimate of $2.47 by $0.08. The firm had revenue of $5.97 billion during the quarter, compared to the consensus estimate of $5.91 billion. Eaton had a return on equity of 20.05% and a net margin of 13.88%. The business’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.06 earnings per share. As a group, analysts forecast that Eaton Co. plc will post 10.25 earnings per share for the current fiscal year.

Eaton Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 11th were paid a $0.94 dividend. The ex-dividend date was Friday, March 8th. This represents a $3.76 annualized dividend and a dividend yield of 1.20%. This is an increase from Eaton’s previous quarterly dividend of $0.86. Eaton’s dividend payout ratio is currently 46.88%.

About Eaton

(Free Report)

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.

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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