SSI Investment Management LLC Has $695,000 Stake in Eaton Co. plc (NYSE:ETN)

SSI Investment Management LLC boosted its holdings in Eaton Co. plc (NYSE:ETNFree Report) by 99.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,062 shares of the industrial products company’s stock after purchasing an additional 1,528 shares during the quarter. SSI Investment Management LLC’s holdings in Eaton were worth $695,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Meeder Asset Management Inc. grew its stake in Eaton by 3.3% in the fourth quarter. Meeder Asset Management Inc. now owns 1,315 shares of the industrial products company’s stock valued at $317,000 after acquiring an additional 42 shares during the period. Telemus Capital LLC lifted its stake in shares of Eaton by 1.0% in the fourth quarter. Telemus Capital LLC now owns 4,111 shares of the industrial products company’s stock valued at $990,000 after buying an additional 42 shares in the last quarter. Amarillo National Bank grew its holdings in shares of Eaton by 3.5% during the fourth quarter. Amarillo National Bank now owns 1,270 shares of the industrial products company’s stock valued at $306,000 after buying an additional 43 shares during the last quarter. Monument Capital Management grew its holdings in shares of Eaton by 1.9% during the fourth quarter. Monument Capital Management now owns 2,415 shares of the industrial products company’s stock valued at $582,000 after buying an additional 44 shares during the last quarter. Finally, Red Spruce Capital LLC grew its holdings in shares of Eaton by 0.3% during the fourth quarter. Red Spruce Capital LLC now owns 17,522 shares of the industrial products company’s stock valued at $4,220,000 after buying an additional 45 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Berenberg Bank lifted their price objective on shares of Eaton from $200.00 to $345.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. UBS Group raised their price target on shares of Eaton from $255.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Evercore ISI raised their price target on shares of Eaton from $262.00 to $308.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. Bank of America raised their price target on shares of Eaton from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Finally, Wolfe Research reissued an “underperform” rating and set a $312.00 price target on shares of Eaton in a research report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $314.27.

Read Our Latest Report on Eaton

Eaton Price Performance

NYSE ETN traded up $0.06 on Friday, hitting $330.24. The stock had a trading volume of 1,881,539 shares, compared to its average volume of 2,429,416. Eaton Co. plc has a 52-week low of $167.33 and a 52-week high of $338.88. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.05 and a current ratio of 1.56. The company has a market capitalization of $132.03 billion, a price-to-earnings ratio of 38.99, a price-to-earnings-growth ratio of 2.60 and a beta of 1.06. The firm has a 50-day moving average of $316.38 and a 200-day moving average of $271.53.

Eaton (NYSE:ETNGet Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.28 by $0.12. The firm had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.91 billion. Eaton had a net margin of 14.38% and a return on equity of 20.69%. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.88 EPS. Equities analysts expect that Eaton Co. plc will post 10.56 EPS for the current year.

Eaton Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, May 6th will be issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date is Friday, May 3rd. Eaton’s payout ratio is 44.39%.

Insider Transactions at Eaton

In related news, insider Peter Denk sold 1,731 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $288.97, for a total transaction of $500,207.07. Following the transaction, the insider now owns 5,514 shares of the company’s stock, valued at approximately $1,593,380.58. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Peter Denk sold 1,731 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $288.97, for a total transaction of $500,207.07. Following the transaction, the insider now owns 5,514 shares of the company’s stock, valued at approximately $1,593,380.58. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Heath B. Monesmith sold 13,027 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $291.40, for a total transaction of $3,796,067.80. Following the sale, the insider now directly owns 69,472 shares of the company’s stock, valued at approximately $20,244,140.80. The disclosure for this sale can be found here. Insiders have sold 17,174 shares of company stock valued at $5,098,000 in the last quarter. Insiders own 0.53% of the company’s stock.

Eaton Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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