Cibc World Market Inc. Has $902,000 Position in Eaton Co. plc (NYSE:ETN)

Cibc World Market Inc. grew its holdings in Eaton Co. plc (NYSE:ETNGet Rating) by 2.4% during the second quarter, Holdings Channel reports. The firm owned 7,156 shares of the industrial products company’s stock after acquiring an additional 171 shares during the quarter. Cibc World Market Inc.’s holdings in Eaton were worth $902,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hazlett Burt & Watson Inc. acquired a new position in shares of Eaton in the 1st quarter valued at about $30,000. WFA of San Diego LLC acquired a new position in shares of Eaton in the 2nd quarter valued at about $25,000. MV Capital Management Inc. lifted its stake in shares of Eaton by 105.0% in the 2nd quarter. MV Capital Management Inc. now owns 207 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 106 shares during the period. Princeton Global Asset Management LLC lifted its stake in shares of Eaton by 588.6% in the 1st quarter. Princeton Global Asset Management LLC now owns 241 shares of the industrial products company’s stock valued at $37,000 after purchasing an additional 206 shares during the period. Finally, Charter Oak Capital Management LLC acquired a new position in shares of Eaton in the 2nd quarter valued at about $35,000. 80.54% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Brian S. Brickhouse sold 27,438 shares of the company’s stock in a transaction that occurred on Friday, November 4th. The stock was sold at an average price of $155.76, for a total value of $4,273,742.88. Following the completion of the transaction, the insider now directly owns 28,131 shares of the company’s stock, valued at $4,381,684.56. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.56% of the stock is currently owned by corporate insiders.

Eaton Stock Performance

Shares of ETN opened at $165.01 on Monday. The firm has a market capitalization of $65.62 billion, a P/E ratio of 28.85, a P/E/G ratio of 1.98 and a beta of 1.15. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.77 and a current ratio of 1.28. The stock has a 50 day moving average price of $144.99 and a two-hundred day moving average price of $140.76. Eaton Co. plc has a 52 week low of $122.50 and a 52 week high of $174.90.

Eaton Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 30th. Stockholders of record on Thursday, November 10th will be issued a $0.81 dividend. This represents a $3.24 annualized dividend and a dividend yield of 1.96%. The ex-dividend date is Wednesday, November 9th. Eaton’s dividend payout ratio is presently 56.64%.

Analyst Ratings Changes

A number of research firms recently weighed in on ETN. Credit Suisse Group upped their price target on Eaton from $157.00 to $174.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 2nd. Wells Fargo & Company upped their price target on Eaton from $142.00 to $157.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 2nd. Royal Bank of Canada upped their price target on Eaton from $141.00 to $148.00 and gave the stock a “sector perform” rating in a research note on Wednesday, November 2nd. UBS Group dropped their price target on Eaton from $192.00 to $173.00 and set a “buy” rating on the stock in a research note on Wednesday, August 3rd. Finally, Citigroup upped their price target on Eaton from $150.00 to $170.00 in a research note on Thursday, August 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Eaton currently has a consensus rating of “Moderate Buy” and a consensus target price of $161.67.

Eaton Company Profile

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Eaton Corp. Plc is a power management company, which provides energy-efficient solutions for electrical, hydraulic, and mechanical power. It operates through the following segments: Electrical Americas and Electrical Global, Hydraulics, Aerospace, Vehicle, and eMobility. The Electrical Americas and Electrical Global segments engage in sales contracts for electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality, wiring devices, circuit protection, utility power distribution, power reliability equipment, and service.

See Also

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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