Eaton Co. plc (NYSE:ETN) Shares Purchased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. grew its stake in Eaton Co. plc (NYSE:ETN - Free Report) by 3,508.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 401,728 shares of the industrial products company's stock after buying an additional 390,595 shares during the quarter. Assenagon Asset Management S.A. owned 0.10% of Eaton worth $133,321,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ETN. B. Riley Wealth Advisors Inc. grew its position in shares of Eaton by 48.9% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 41,106 shares of the industrial products company's stock valued at $13,533,000 after acquiring an additional 13,497 shares during the period. Interval Partners LP grew its holdings in Eaton by 82.7% in the second quarter. Interval Partners LP now owns 151,716 shares of the industrial products company's stock valued at $47,571,000 after purchasing an additional 68,693 shares during the period. Scientech Research LLC increased its position in shares of Eaton by 285.5% in the second quarter. Scientech Research LLC now owns 5,744 shares of the industrial products company's stock valued at $1,801,000 after buying an additional 4,254 shares in the last quarter. Neville Rodie & Shaw Inc. raised its stake in shares of Eaton by 6.8% during the 4th quarter. Neville Rodie & Shaw Inc. now owns 38,386 shares of the industrial products company's stock worth $12,739,000 after buying an additional 2,428 shares during the period. Finally, Wolverine Asset Management LLC purchased a new position in shares of Eaton during the 3rd quarter valued at approximately $1,160,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Eaton

In related news, insider Craig Arnold sold 61,569 shares of the firm'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 transaction of $22,224,561.93. Following the transaction, the insider now owns 506,360 shares in the company, valued at $182,780,769.20. This trade represents a 10.84 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Gregory R. Page sold 4,000 shares of the business's stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $335.30, for a total value of $1,341,200.00. Following the completion of the sale, the director now owns 51,422 shares of the company's stock, valued at approximately $17,241,796.60. This represents a 7.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 76,981 shares of company stock worth $27,660,117 over the last three months. Insiders own 0.53% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on ETN shares. Citigroup cut their price target on shares of Eaton from $440.00 to $410.00 and set a "buy" rating for the company in a report on Monday. JPMorgan Chase & Co. cut their price objective on Eaton from $350.00 to $348.00 and set an "overweight" rating for the company in a research note on Wednesday. Royal Bank of Canada lifted their price target on Eaton from $374.00 to $392.00 and gave the stock an "outperform" rating in a research note on Friday, January 3rd. Sanford C. Bernstein assumed coverage on Eaton in a research note on Tuesday, November 5th. They issued an "outperform" rating and a $382.00 price objective for the company. Finally, Mizuho lifted their target price on shares of Eaton from $365.00 to $385.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $368.89.

Eaton Trading Up 0.6 %

NYSE:ETN traded up $2.21 during trading hours on Wednesday, reaching $342.35. 3,434,212 shares of the stock were exchanged, compared to its average volume of 2,500,182. Eaton Co. plc has a twelve month low of $236.04 and a twelve month high of $379.99. 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 business has a 50-day moving average of $355.38 and a two-hundred day moving average of $329.33. The company has a market capitalization of $135.30 billion, a price-to-earnings ratio of 36.42, a PEG ratio of 2.70 and a beta of 1.06.

Eaton (NYSE:ETN - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, topping the consensus estimate of $2.80 by $0.04. The business had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The company's quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.47 earnings per share. On average, equities analysts predict that Eaton Co. plc will post 10.8 EPS for the current year.

Eaton Announces Dividend

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

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.