CIBC Asset Management Inc Has $20.11 Million Position in Eaton Co. plc (NYSE:ETN)

CIBC Asset Management Inc increased its position in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 4.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 60,587 shares of the industrial products company's stock after purchasing an additional 2,454 shares during the quarter. CIBC Asset Management Inc's holdings in Eaton were worth $20,107,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Eaton by 253.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,273,685 shares of the industrial products company's stock worth $753,590,000 after acquiring an additional 1,629,856 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Eaton by 27,075.5% in the 3rd quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company's stock worth $355,959,000 after purchasing an additional 1,070,024 shares during the last quarter. Janus Henderson Group PLC grew its stake in Eaton by 32.8% during the 3rd quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company's stock worth $801,798,000 after buying an additional 597,700 shares during the last quarter. Vaughan Nelson Investment Management L.P. acquired a new stake in Eaton in the third quarter worth $137,794,000. Finally, Assenagon Asset Management S.A. lifted its stake in Eaton by 3,508.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 401,728 shares of the industrial products company's stock valued at $133,321,000 after buying an additional 390,595 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Eaton Price Performance

ETN stock traded down $11.71 during midday trading on Friday, reaching $297.11. 4,399,446 shares of the company's stock traded hands, compared to its average volume of 3,361,916. The company has a 50-day simple moving average of $331.97 and a two-hundred day simple moving average of $332.05. 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 cap of $117.42 billion, a price-to-earnings ratio of 31.27, a PEG ratio of 2.65 and a beta of 1.05. Eaton Co. plc has a 1-year low of $255.65 and a 1-year high of $379.99.

Eaton (NYSE:ETN - Get Free Report) last announced its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.82 by $0.01. Eaton had a net margin of 15.25% and a return on equity of 22.62%. During the same quarter last year, the business earned $2.55 EPS. On average, analysts anticipate that Eaton Co. plc will post 12.02 earnings per share for the current year.

Insider Activity

In other news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the firm's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $378.58, for a total value of $534,554.96. Following the transaction, the insider now owns 31,200 shares of the company's stock, valued at approximately $11,811,696. This trade represents a 4.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gregory R. Page sold 10,000 shares of Eaton stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the sale, the director now owns 43,203 shares of the company's stock, valued at approximately $15,379,403.94. This represents a 18.80 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.53% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ETN. 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. Mizuho increased their price objective on Eaton from $365.00 to $385.00 and gave the stock an "outperform" rating in a report on Friday, November 1st. Citigroup cut their target price on Eaton from $440.00 to $410.00 and set a "buy" rating on the stock in a research note on Monday, January 13th. UBS Group initiated coverage on Eaton in a research note on Wednesday, November 13th. They issued a "buy" rating and a $431.00 price target for the company. Finally, Bank of America raised their price target on Eaton from $350.00 to $410.00 and gave the company a "buy" rating in a report on Wednesday, November 13th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $366.05.

Eaton Company 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.