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

Nissay Asset Management Corp Japan ADV boosted its stake in Eaton Co. plc (NYSE:ETN) by 14.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 238,349 shares of the industrial products company’s stock after purchasing an additional 30,359 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in Eaton were worth $79,759,000 at the end of the most recent reporting period.

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

Eaton Stock Performance

Shares of Eaton stock opened at $330.84 on Wednesday. Eaton Co. plc has a one year low of $231.85 and a one year high of $379.99. The company has a market cap of $129.46 billion, a PE ratio of 34.83, a P/E/G ratio of 2.64 and a beta of 1.14. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. The business has a 50-day simple moving average of $284.57 and a 200-day simple moving average of $319.88.

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

Eaton Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend is Monday, May 5th. Eaton’s dividend payout ratio is presently 41.98%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ETN. KeyCorp lifted their target price on shares of Eaton from $325.00 to $355.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th. Citigroup lifted their price target on Eaton from $323.00 to $351.00 and gave the stock a “buy” rating in a report on Monday, May 5th. Melius Research reiterated a “hold” rating and set a $373.00 price target on shares of Eaton in a report on Tuesday, January 28th. Evercore ISI reduced their price target on Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a report on Wednesday, February 19th. Finally, Jefferies Financial Group reduced their price target on Eaton from $390.00 to $335.00 and set a “buy” rating on the stock in a report on Wednesday, March 12th. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Eaton presently has a consensus rating of “Moderate Buy” and a consensus price target of $361.13.

Insider Transactions at Eaton

In related news, insider Michael Yelton sold 2,120 shares of the company’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 value of $629,364.40. Following the completion of the transaction, the insider now directly owns 3,382 shares of the company’s stock, valued at $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 SEC, which is available through this hyperlink. Also, insider Craig Arnold sold 51,054 shares of the company’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 value of $15,593,423.22. Following the completion of the transaction, the insider now directly owns 489,444 shares of the company’s stock, 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. Over the last ninety days, insiders sold 156,660 shares of company stock valued at $49,622,894. 0.30% of the stock is currently owned by corporate insiders.

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.