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

Ossiam raised its position in Eaton Co. plc (NYSE:ETN) by 30.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 233,022 shares of the industrial products company’s stock after acquiring an additional 55,007 shares during the quarter. Eaton makes up 2.5% of Ossiam’s investment portfolio, making the stock its 14th largest position. Ossiam owned 0.06% of Eaton worth $77,333,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Flagship Wealth Advisors LLC purchased a new stake in Eaton in the fourth quarter worth about $27,000. Noble Wealth Management PBC bought a new position in Eaton during the 4th quarter valued at approximately $30,000. Horizon Bancorp Inc. IN boosted its holdings in Eaton by 321.7% in the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 74 shares in the last quarter. Morse Asset Management Inc purchased a new stake in shares of Eaton in the third quarter worth $33,000. Finally, Murphy & Mullick Capital Management Corp bought a new position in shares of Eaton during the fourth quarter valued at $33,000. 82.97% of the stock is owned by institutional investors.

Eaton Stock Performance

Shares of Eaton stock opened at $268.15 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. The business’s 50 day moving average price is $284.95 and its 200 day moving average price is $325.24. The company has a market cap of $105.05 billion, a price-to-earnings ratio of 28.23, a PEG ratio of 2.64 and a beta of 1.09. Eaton Co. plc has a one year low of $231.85 and a one year high of $379.99.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, beating 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 period last year, the company earned $2.55 earnings per share. On average, research analysts predict that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 10th were given a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 1.55%. This is a positive change from Eaton’s previous quarterly dividend of $0.94. The ex-dividend date was Monday, March 10th. Eaton’s dividend payout ratio is presently 43.79%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Barclays cut their price target on shares of Eaton from $315.00 to $306.00 and set an “equal weight” rating on the stock in a report on Friday, April 4th. Wells Fargo & Company reduced their target price on Eaton from $335.00 to $305.00 and set an “equal weight” rating for the company in a report on Wednesday, March 5th. Melius downgraded Eaton from a “buy” rating to a “hold” rating and set a $373.00 price target on the stock. in a report on Tuesday, January 28th. JPMorgan Chase & Co. lowered their target price on shares of Eaton from $350.00 to $289.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Finally, Citigroup reduced their price target on shares of Eaton from $396.00 to $323.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $350.22.

About Eaton

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.