Asset Allocation & Management Company LLC Purchases Shares of 997 Eaton Co. plc (NYSE:ETN)

Asset Allocation & Management Company LLC purchased a new stake in shares of Eaton Co. plc (NYSE:ETN) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 997 shares of the industrial products company’s stock, valued at approximately $331,000.

Other hedge funds have also recently modified their holdings of the company. Breakwater Investment Management increased its holdings in shares of Eaton by 1,560.0% during the second quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 78 shares in the last quarter. Groupama Asset Managment increased its holdings in shares of Eaton by 83.2% during the third quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 4,298 shares in the last quarter. Morse Asset Management Inc acquired a new position in shares of Eaton during the third quarter valued at about $33,000. West Financial Advisors LLC acquired a new position in shares of Eaton during the third quarter valued at about $35,000. Finally, DT Investment Partners LLC acquired a new position in shares of Eaton during the third quarter valued at about $37,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Citigroup increased their price target on shares of Eaton from $394.00 to $440.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Royal Bank of Canada upped 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. Mizuho upped their price objective on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Sanford C. Bernstein began coverage on Eaton in a research report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 target price on the stock. Finally, Jefferies Financial Group increased their target price on Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $369.28.

Eaton Trading Down 0.3 %

NYSE ETN traded down $0.94 during trading on Monday, hitting $340.51. The stock had a trading volume of 1,112,998 shares, compared to its average volume of 2,066,733. The company has a market capitalization of $134.57 billion, a PE ratio of 36.22, a PEG ratio of 2.70 and a beta of 1.06. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. The firm has a 50 day moving average price of $355.14 and a 200 day moving average price of $328.96. Eaton Co. plc has a twelve month low of $236.04 and a twelve month high of $379.99.

Eaton (NYSE:ETN) last released its earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.80 by $0.04. The company had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. Eaton’s revenue was up 7.9% compared to the same quarter last year. During the same period in the previous year, the company posted $2.47 EPS. As a group, equities research analysts forecast that Eaton Co. plc will post 10.8 earnings per share for the current year.

Eaton Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 4th were given a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend was Monday, November 4th. Eaton’s dividend payout ratio is currently 40.00%.

Insider Activity

In other news, Director Gregory R. Page sold 4,000 shares of Eaton stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $335.30, for a total value of $1,341,200.00. Following the completion of the transaction, the director now owns 51,422 shares in the company, valued at approximately $17,241,796.60. This trade represents a 7.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Craig Arnold sold 61,569 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total value of $22,224,561.93. Following the sale, the insider now owns 506,360 shares of the company’s stock, valued at approximately $182,780,769.20. The trade was a 10.84 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 76,981 shares of company stock worth $27,660,117. 0.53% of the stock is currently owned by company insiders.

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.