Aspen Investment Management Inc Acquires 104 Shares of Eaton Co. plc (NYSE:ETN)

Aspen Investment Management Inc grew its holdings in shares of Eaton Co. plc (NYSE:ETN) by 3.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 3,177 shares of the industrial products company’s stock after purchasing an additional 104 shares during the period. Aspen Investment Management Inc’s holdings in Eaton were worth $1,054,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised 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 during the last quarter. International Assets Investment Management LLC increased its stake in shares of Eaton by 27,075.5% in the third quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company’s stock valued at $355,959,000 after buying an additional 1,070,024 shares during the period. Janus Henderson Group PLC raised its position 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 acquiring an additional 597,700 shares during the last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Eaton in the third quarter worth approximately $137,794,000. Finally, Assenagon Asset Management S.A. lifted its stake in shares of 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 worth $133,321,000 after acquiring an additional 390,595 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Stock Down 0.2 %

Shares of NYSE:ETN opened at $308.95 on Friday. The business’s 50 day moving average is $333.15 and its 200 day moving average is $331.88. Eaton Co. plc has a 12-month low of $255.65 and a 12-month high of $379.99. The stock has a market cap of $122.10 billion, a price-to-earnings ratio of 32.52, a PEG ratio of 2.68 and a beta of 1.05. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46.

Eaton (NYSE:ETN) last posted its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, topping the consensus estimate 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 period last year, the business posted $2.55 earnings per share. On average, sell-side analysts forecast that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Insider Buying and Selling at Eaton

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

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Wells Fargo & Company lowered their price target on shares of Eaton from $350.00 to $335.00 and set an “equal weight” rating for the company in a report on Monday, February 3rd. UBS Group initiated coverage on shares of Eaton in a report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 target price on the stock. Bank of America increased their price target on Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Royal Bank of Canada lowered their price objective on Eaton from $407.00 to $405.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Finally, Jefferies Financial Group increased their price target on Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $366.05.

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.