Oddo BHF Asset Management Sas Makes New Investment in Eaton Co. plc (NYSE:ETN)

Oddo BHF Asset Management Sas acquired a new stake in Eaton Co. plc (NYSE:ETN - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 25,361 shares of the industrial products company's stock, valued at approximately $8,406,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Eaton by 253.2% during the 3rd 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 purchasing an additional 1,629,856 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of Eaton by 27,075.5% during 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 holdings in shares of Eaton by 32.8% during the third 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 in the last quarter. Wulff Hansen & CO. raised its position in shares of Eaton by 31,255.0% in the second quarter. Wulff Hansen & CO. now owns 478,164 shares of the industrial products company's stock valued at $149,928,000 after buying an additional 476,639 shares during the last quarter. Finally, Electron Capital Partners LLC lifted its stake in shares of Eaton by 8,348.9% during the second quarter. Electron Capital Partners LLC now owns 446,524 shares of the industrial products company's stock valued at $140,008,000 after buying an additional 441,239 shares during the period. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Eaton

In other news, insider Ernest W. Marshall, Jr. sold 1,412 shares of Eaton stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $378.58, for a total transaction of $534,554.96. Following the sale, the insider now owns 31,200 shares of the company's stock, valued at approximately $11,811,696. The trade was a 4.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Gregory R. Page sold 4,000 shares of the firm'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 in the company, valued at approximately $17,241,796.60. This represents a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,981 shares of company stock valued at $24,100,317 over the last three months. 0.53% of the stock is owned by insiders.

Eaton Stock Down 0.7 %

Shares of NYSE ETN traded down $2.46 during trading on Friday, reaching $356.18. 1,165,020 shares of the stock were exchanged, compared to its average volume of 2,082,403. The company has a market capitalization of $140.76 billion, a price-to-earnings ratio of 37.87, a price-to-earnings-growth ratio of 2.74 and a beta of 1.03. The business's 50-day moving average price is $355.33 and its 200 day moving average price is $326.59. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. Eaton Co. plc has a twelve month low of $231.84 and a twelve month high of $379.99.

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

Eaton Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 4th were issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.06%. The ex-dividend date was Monday, November 4th. Eaton's dividend payout ratio is currently 40.00%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ETN. Raymond James reduced their price target on Eaton from $375.00 to $365.00 and set an "outperform" rating on the stock in a research note on Monday, September 9th. Wolfe Research raised Eaton from an "underperform" rating to a "peer perform" rating in a research note on Friday, September 6th. UBS Group assumed coverage on shares of Eaton in a research note on Wednesday, November 13th. They set a "buy" rating and a $431.00 price objective for the company. Mizuho raised their target price on shares of Eaton from $365.00 to $385.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. Finally, Jefferies Financial Group upped their price target on shares of Eaton from $400.00 to $440.00 and gave the stock a "buy" rating in a research report on Friday, December 6th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, Eaton currently has a consensus rating of "Moderate Buy" and a consensus price target of $367.83.

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.