TigerOak Management L.L.C. Acquires Shares of 1,301 Eaton Co. plc (NYSE:ETN)

TigerOak Management L.L.C. acquired a new stake in Eaton Co. plc (NYSE:ETN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,301 shares of the industrial products company’s stock, valued at approximately $432,000.

A number of other hedge funds have also recently modified their holdings of the company. Creative Planning boosted its stake in shares of Eaton by 2.7% during the 3rd quarter. Creative Planning now owns 181,067 shares of the industrial products company’s stock valued at $60,013,000 after purchasing an additional 4,705 shares in the last quarter. Bleakley Financial Group LLC boosted its stake in shares of Eaton by 0.4% during the 3rd quarter. Bleakley Financial Group LLC now owns 13,088 shares of the industrial products company’s stock valued at $4,338,000 after purchasing an additional 54 shares in the last quarter. Secure Asset Management LLC boosted its stake in shares of Eaton by 8.8% during the 3rd quarter. Secure Asset Management LLC now owns 2,745 shares of the industrial products company’s stock valued at $910,000 after purchasing an additional 223 shares in the last quarter. Aspiriant LLC boosted its stake in shares of Eaton by 25.9% during the 3rd quarter. Aspiriant LLC now owns 1,022 shares of the industrial products company’s stock valued at $339,000 after purchasing an additional 210 shares in the last quarter. Finally, Stratos Wealth Partners LTD. boosted its stake in shares of Eaton by 3.7% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 27,587 shares of the industrial products company’s stock valued at $9,144,000 after purchasing an additional 990 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

ETN has been the topic of a number of research reports. Melius Research reaffirmed a “hold” rating and set a $373.00 target price on shares of Eaton in a research note on Tuesday, January 28th. Evercore ISI lowered shares of Eaton from an “outperform” rating to an “inline” rating and boosted their price objective for the stock from $333.00 to $389.00 in a research note on Wednesday, November 13th. Royal Bank of Canada dropped their price objective on shares of Eaton from $407.00 to $405.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd. Mizuho boosted their price objective on shares of Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, Jefferies Financial Group boosted their price objective on shares of Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Eaton presently has a consensus rating of “Moderate Buy” and a consensus price target of $369.20.

Insider Buying and Selling at Eaton

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

Eaton Stock Up 0.5 %

ETN opened at $309.21 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. The firm has a 50 day moving average price of $337.21 and a 200-day moving average price of $331.39. Eaton Co. plc has a twelve month low of $255.65 and a twelve month high of $379.99. The stock has a market capitalization of $122.20 billion, a price-to-earnings ratio of 32.55, a PEG ratio of 2.37 and a beta of 1.05.

Eaton (NYSE:ETN) last released its quarterly earnings data 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 net margin of 15.25% and a return on equity of 22.62%. During the same quarter in the previous year, the business earned $2.55 earnings per share. Equities research analysts forecast that Eaton Co. plc will post 12.04 earnings per share for the current year.

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.