Eaton Co. plc (NYSE:ETN) Shares Acquired by Nissay Asset Management Corp Japan ADV

Nissay Asset Management Corp Japan ADV lifted its stake in Eaton Co. plc (NYSE:ETN - Free Report) by 14.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 238,349 shares of the industrial products company's stock after acquiring an additional 30,359 shares during the quarter. Nissay Asset Management Corp Japan ADV owned 0.06% of Eaton worth $79,759,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in ETN. NorthRock Partners LLC raised its holdings in shares of Eaton by 136.6% in the 4th quarter. NorthRock Partners LLC now owns 3,998 shares of the industrial products company's stock valued at $1,327,000 after purchasing an additional 2,308 shares in the last quarter. Nuveen Asset Management LLC grew its position in shares of Eaton by 4.3% in the 4th quarter. Nuveen Asset Management LLC now owns 4,671,185 shares of the industrial products company's stock valued at $1,550,226,000 after buying an additional 192,482 shares during the last quarter. OMERS ADMINISTRATION Corp grew its position in shares of Eaton by 17.4% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 17,101 shares of the industrial products company's stock valued at $5,675,000 after buying an additional 2,529 shares during the last quarter. Obermeyer Wealth Partners grew its position in shares of Eaton by 1.4% in the 4th quarter. Obermeyer Wealth Partners now owns 9,468 shares of the industrial products company's stock valued at $3,142,000 after buying an additional 127 shares during the last quarter. Finally, Morse Asset Management Inc grew its position in shares of Eaton by 1,155.0% in the 4th quarter. Morse Asset Management Inc now owns 1,255 shares of the industrial products company's stock valued at $416,000 after buying an additional 1,155 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ETN has been the topic of a number of recent analyst reports. Melius Research reaffirmed a "hold" rating and issued a $373.00 target price on shares of Eaton in a research report on Tuesday, January 28th. Jefferies Financial Group reduced their price objective 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. Evercore ISI cut their target price on shares of Eaton from $382.00 to $326.00 and set an "in-line" rating for the company in a research report on Wednesday, February 19th. JPMorgan Chase & Co. lifted their price target on shares of Eaton from $300.00 to $360.00 and gave the stock an "overweight" rating in a report on Friday. Finally, KeyCorp lifted their price target on shares of Eaton from $325.00 to $355.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $366.56.

Insider Activity at Eaton

In other Eaton news, insider Michael Yelton sold 2,120 shares of the stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total transaction of $629,364.40. Following the sale, the insider now directly owns 3,382 shares of the company's stock, valued at approximately $1,004,014.34. This represents a 38.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Craig Arnold sold 51,054 shares of the stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $305.43, for a total transaction of $15,593,423.22. Following the sale, the insider now directly owns 489,444 shares in the company, valued at $149,490,880.92. This trade represents a 9.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 156,660 shares of company stock valued at $49,622,894 over the last ninety days. Corporate insiders own 0.30% of the company's stock.

Eaton Stock Up 0.8%

Shares of NYSE ETN traded up $2.58 during trading on Friday, reaching $329.40. 1,997,137 shares of the stock were exchanged, compared to its average volume of 2,660,386. The business's 50-day moving average price is $287.40 and its 200 day moving average price is $319.71. Eaton Co. plc has a twelve month low of $231.85 and a twelve month high of $379.99. 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 company has a market capitalization of $128.89 billion, a price-to-earnings ratio of 34.67, a price-to-earnings-growth ratio of 2.64 and a beta of 1.14.

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

Eaton Announces Dividend

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

About Eaton

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.