Oppenheimer & Co. Inc. Has $25.61 Million Position in Eaton Co. plc (NYSE:ETN)

Oppenheimer & Co. Inc. raised its position in shares of Eaton Co. plc (NYSE:ETN) by 9.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 77,155 shares of the industrial products company’s stock after purchasing an additional 6,635 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Eaton were worth $25,605,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in ETN. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Eaton by 253.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,273,685 shares of the industrial products company’s stock valued at $753,590,000 after purchasing an additional 1,629,856 shares during the period. Janus Henderson Group PLC grew its holdings in shares of Eaton by 32.8% during the 3rd quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company’s stock valued at $801,798,000 after acquiring an additional 597,700 shares in the last quarter. Vaughan Nelson Investment Management L.P. purchased a new position in shares of Eaton during the 3rd quarter valued at $137,794,000. Assenagon Asset Management S.A. grew its holdings in shares of Eaton by 3,508.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 401,728 shares of the industrial products company’s stock valued at $133,321,000 after acquiring an additional 390,595 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of Eaton by 15.1% during the 3rd quarter. Franklin Resources Inc. now owns 2,421,626 shares of the industrial products company’s stock valued at $836,938,000 after acquiring an additional 316,830 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on ETN shares. Sanford C. Bernstein started coverage on shares of Eaton in a report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 price target on the stock. JPMorgan Chase & Co. lowered their price target on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Jefferies Financial Group upped their price objective on shares of Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Melius cut shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 price objective for the company. in a report on Tuesday, January 28th. Finally, Wells Fargo & Company reiterated an “equal weight” rating on shares of Eaton in a report on Thursday, February 13th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $366.05.

Insider Activity at Eaton

In other Eaton news, Director Gregory R. Page sold 10,000 shares of the stock in a transaction 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 sale, the director now directly owns 43,203 shares in the company, valued at approximately $15,379,403.94. This trade represents a 18.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.33% of the stock is currently owned by corporate insiders.

Eaton Price Performance

ETN opened at $297.28 on Thursday. Eaton Co. plc has a one year low of $255.65 and a one year high of $379.99. 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 company’s 50 day simple moving average is $328.71 and its 200-day simple moving average is $332.55. The stock 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.

Eaton (NYSE:ETN) last released its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 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 in the previous year, the company earned $2.55 EPS. Sell-side analysts anticipate that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton 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.