Ossiam Purchases 55,007 Shares of Eaton Co. plc (NYSE:ETN)

Ossiam lifted its holdings in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 30.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 233,022 shares of the industrial products company's stock after buying an additional 55,007 shares during the period. Eaton makes up about 2.5% of Ossiam's investment portfolio, making the stock its 14th largest holding. Ossiam owned about 0.06% of Eaton worth $77,333,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Flagship Wealth Advisors LLC bought a new position in Eaton during the 4th quarter valued at $27,000. Noble Wealth Management PBC acquired a new stake in shares of Eaton in the fourth quarter valued at $30,000. Horizon Bancorp Inc. IN boosted its stake in Eaton by 321.7% during the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company's stock valued at $32,000 after buying an additional 74 shares in the last quarter. Morse Asset Management Inc acquired a new position in Eaton during the third quarter worth about $33,000. Finally, Murphy & Mullick Capital Management Corp bought a new stake in Eaton in the fourth quarter worth about $33,000. Institutional investors own 82.97% of the company's stock.

Eaton Stock Up 3.9 %

Shares of Eaton stock traded up $10.86 during midday trading on Thursday, reaching $286.52. 1,572,948 shares of the company's stock traded hands, compared to its average volume of 2,629,459. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. Eaton Co. plc has a 52 week low of $231.85 and a 52 week high of $379.99. The company's 50 day simple moving average is $282.46 and its 200 day simple moving average is $323.96. The company has a market cap of $112.25 billion, a price-to-earnings ratio of 30.16, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09.

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

Eaton Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Monday, May 5th will be issued a dividend of $1.04 per share. The ex-dividend date of this dividend is Monday, May 5th. This represents a $4.16 annualized dividend and a yield of 1.45%. Eaton's dividend payout ratio (DPR) is presently 43.79%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Melius Research reaffirmed a "hold" rating and issued a $373.00 price objective on shares of Eaton in a research note on Tuesday, January 28th. Royal Bank of Canada decreased their price target on shares of Eaton from $405.00 to $376.00 and set an "outperform" rating on the stock in a research report on Thursday, March 6th. Wells Fargo & Company reduced their price objective on Eaton from $335.00 to $305.00 and set an "equal weight" rating for the company in a research note on Wednesday, March 5th. StockNews.com lowered Eaton from a "buy" rating to a "hold" rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. decreased their price target on Eaton from $350.00 to $289.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Eight equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $350.22.

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.