Oppenheimer & Co. Inc. Buys 6,635 Shares of Eaton Co. plc (NYSE:ETN)

Oppenheimer & Co. Inc. boosted its stake in Eaton Co. plc (NYSE:ETN) by 9.4% during the 4th quarter, HoldingsChannel reports. The fund owned 77,155 shares of the industrial products company’s stock after acquiring an additional 6,635 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Eaton were worth $25,605,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ETN. Groupama Asset Managment increased its stake in 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 last quarter. Horizon Bancorp Inc. IN increased its stake 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 buying an additional 74 shares during the last quarter. Morse Asset Management Inc acquired a new stake in Eaton in the 3rd quarter valued at $33,000. Activest Wealth Management increased its stake in Eaton by 621.4% in the 4th quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock valued at $34,000 after buying an additional 87 shares during the last quarter. Finally, Hager Investment Management Services LLC acquired a new stake in Eaton in the 4th quarter valued at $38,000. 82.97% of the stock is owned by institutional investors.

Eaton Price Performance

ETN stock opened at $297.28 on Thursday. Eaton Co. plc has a 12 month low of $255.65 and a 12 month high of $379.99. The firm has a market capitalization of $117.48 billion, a P/E ratio of 31.29, a price-to-earnings-growth ratio of 2.64 and a beta of 1.05. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. The firm has a 50 day moving average of $328.71 and a 200-day moving average of $332.55.

Eaton (NYSE:ETN) last announced its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, beating the consensus estimate 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 last year, the firm earned $2.55 earnings per share. As a group, sell-side analysts predict that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Insider Transactions at Eaton

In other news, Director Gregory R. Page sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $355.98, for a total value of $3,559,800.00. Following the completion of the sale, the director now directly owns 43,203 shares in the company, valued at approximately $15,379,403.94. The trade was a 18.80 % decrease in their position. The sale 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.

Analyst Upgrades and Downgrades

ETN has been the topic of several recent research reports. Evercore ISI lowered their price target on shares of Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a research note on Wednesday, February 19th. Barclays boosted their price objective on shares of Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. JPMorgan Chase & Co. reduced their target price on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. UBS Group initiated coverage on shares of Eaton in a report on Wednesday, November 13th. They set a “buy” rating and a $431.00 target price for the company. Finally, Melius Research reaffirmed a “hold” rating and set a $373.00 target price on shares of Eaton in a report on Tuesday, January 28th. Seven investment 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 presently has an average rating of “Moderate Buy” and an average price target of $366.05.

Eaton Company Profile

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.