Eaton Co. plc (NYSE:ETN) Shares Acquired by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp grew its holdings in Eaton Co. plc (NYSE:ETN - Free Report) by 17.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,101 shares of the industrial products company's stock after buying an additional 2,529 shares during the period. OMERS ADMINISTRATION Corp's holdings in Eaton were worth $5,675,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of ETN. Obermeyer Wealth Partners grew its holdings in shares of Eaton by 1.4% in the fourth quarter. Obermeyer Wealth Partners now owns 9,468 shares of the industrial products company's stock valued at $3,142,000 after purchasing an additional 127 shares during the period. Morse Asset Management Inc grew its holdings in shares of Eaton by 1,155.0% in the fourth quarter. Morse Asset Management Inc now owns 1,255 shares of the industrial products company's stock valued at $416,000 after purchasing an additional 1,155 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Eaton by 6.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 989,455 shares of the industrial products company's stock valued at $328,371,000 after purchasing an additional 56,900 shares during the period. Mmbg Investment Advisors CO. grew its holdings in shares of Eaton by 3.7% in the fourth quarter. Mmbg Investment Advisors CO. now owns 12,440 shares of the industrial products company's stock valued at $4,128,000 after purchasing an additional 445 shares during the period. Finally, Lazard Asset Management LLC grew its holdings in shares of Eaton by 6.9% in the fourth quarter. Lazard Asset Management LLC now owns 622,664 shares of the industrial products company's stock valued at $206,643,000 after purchasing an additional 40,397 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ETN has been the subject of several research analyst reports. Melius lowered shares of Eaton from a "buy" rating to a "hold" rating and set a $373.00 target price for the company. in a research note on Tuesday, January 28th. Jefferies Financial Group lowered their target price on shares of Eaton from $390.00 to $335.00 and set a "buy" rating for the company in a research note on Wednesday, March 12th. BNP Paribas initiated coverage on shares of Eaton in a research note on Thursday. They set an "outperform" rating and a $380.00 target price for the company. Barclays lowered their target price on shares of Eaton from $315.00 to $306.00 and set an "equal weight" rating for the company in a research note on Friday, April 4th. Finally, BNP Paribas Exane initiated coverage on shares of Eaton in a research note on Thursday. They set an "outperform" rating and a $380.00 target price for the company. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $366.56.

Eaton Stock Up 0.8%

Eaton stock traded up $2.58 during trading on Friday, reaching $329.40. The stock had a trading volume of 1,997,137 shares, compared to its average volume of 2,660,386. Eaton Co. plc has a 52-week low of $231.85 and a 52-week high of $379.99. The business has a 50 day moving average price of $287.40 and a 200 day moving average price of $319.71. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. The stock has a market cap of $128.89 billion, a PE ratio of 34.67, a P/E/G ratio of 2.64 and a beta of 1.14.

Eaton (NYSE:ETN - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.70 by $0.02. Eaton had a net margin of 15.25% and a return on equity of 22.62%. The company had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.26 billion. During the same quarter in the previous year, the firm earned $2.40 earnings per share. The firm's quarterly revenue was up 7.3% on a year-over-year basis. On average, analysts predict that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Monday, May 5th will be paid a $1.04 dividend. The ex-dividend date of this dividend is Monday, May 5th. This represents a $4.16 dividend on an annualized basis and a yield of 1.26%. Eaton's dividend payout ratio is currently 41.98%.

Insider Transactions at Eaton

In other news, insider Craig Arnold sold 51,054 shares of the business's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $305.43, for a total transaction of $15,593,423.22. Following the completion of the sale, the insider now owns 489,444 shares in the company, valued at approximately $149,490,880.92. The trade was a 9.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael Yelton sold 2,120 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total transaction of $629,364.40. Following the sale, the insider now owns 3,382 shares of the company's stock, valued at $1,004,014.34. This represents a 38.53% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 156,660 shares of company stock worth $49,622,894. 0.30% of the stock is currently owned by insiders.

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.