Swedbank AB Has $193.27 Million Position in Eaton Co. plc (NYSE:ETN)

Swedbank AB lessened its position in Eaton Co. plc (NYSE:ETN) by 13.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 582,354 shares of the industrial products company’s stock after selling 92,148 shares during the period. Swedbank AB owned about 0.15% of Eaton worth $193,266,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in ETN. Susquehanna Fundamental Investments LLC acquired a new position in Eaton in the second quarter worth $2,383,000. Ascent Group LLC lifted its position in Eaton by 7.2% during the 2nd quarter. Ascent Group LLC now owns 792 shares of the industrial products company’s stock worth $248,000 after buying an additional 53 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Eaton by 5.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 61,374 shares of the industrial products company’s stock worth $19,244,000 after acquiring an additional 3,361 shares during the last quarter. Sunbelt Securities Inc. increased its position in Eaton by 6.0% in the 2nd quarter. Sunbelt Securities Inc. now owns 2,347 shares of the industrial products company’s stock valued at $736,000 after acquiring an additional 132 shares in the last quarter. Finally, Quarry LP bought a new position in shares of Eaton in the second quarter worth about $84,000. Institutional investors own 82.97% of the company’s stock.

Eaton Stock Up 1.1 %

Shares of NYSE:ETN traded up $3.29 during trading on Wednesday, hitting $315.96. 618,104 shares of the company’s stock traded hands, compared to its average volume of 3,211,535. The company has a 50-day moving average price of $351.98 and a 200-day moving average price of $331.21. Eaton Co. plc has a 52 week low of $245.65 and a 52 week high of $379.99. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. The company has a market cap of $124.87 billion, a price-to-earnings ratio of 33.71, a price-to-earnings-growth ratio of 2.57 and a beta of 1.06.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.80 by $0.04. The company had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The firm’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.47 earnings per share. As a group, research analysts forecast that Eaton Co. plc will post 10.79 EPS for the current fiscal year.

Insider Activity at Eaton

In other news, Director Gregory R. Page sold 4,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $335.30, for a total value of $1,341,200.00. Following the completion of the transaction, the director now owns 51,422 shares in the company, valued at $17,241,796.60. This trade represents a 7.22 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the company’s stock in a transaction dated 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 position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 76,981 shares of company stock valued at $27,660,117. 0.53% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

ETN has been the topic of several research analyst reports. Sanford C. Bernstein initiated coverage on shares of Eaton in a research note on Tuesday, November 5th. They set an “outperform” rating and a $382.00 price target on the stock. Mizuho boosted their target price on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Royal Bank of Canada raised their price target on Eaton from $374.00 to $392.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Evercore ISI cut 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 report on Wednesday, November 13th. Finally, Citigroup reduced their target price on shares of Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $369.30.

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.