Eaton Co. plc (NYSE:ETN) Position Trimmed by WT Asset Management Ltd

WT Asset Management Ltd reduced its holdings in Eaton Co. plc (NYSE:ETN) by 96.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 5,000 shares of the industrial products company’s stock after selling 132,200 shares during the period. WT Asset Management Ltd’s holdings in Eaton were worth $1,659,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Horizon Bancorp Inc. IN lifted its holdings in shares of Eaton by 321.7% in the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 74 shares during the last quarter. Morse Asset Management Inc bought a new stake in Eaton in the third quarter valued at $33,000. West Financial Advisors LLC acquired a new position in shares of Eaton during the third quarter valued at $35,000. DT Investment Partners LLC bought a new position in shares of Eaton during the third quarter worth about $37,000. Finally, Hager Investment Management Services LLC acquired a new stake in shares of Eaton in the 4th quarter worth about $38,000. Institutional investors own 82.97% of the company’s stock.

Insiders Place Their Bets

In other news, 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 transaction, the insider now owns 31,200 shares in the company, valued at $11,811,696. This represents a 4.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gregory R. Page sold 10,000 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the completion of the sale, the director now directly owns 43,203 shares of the company’s stock, valued at $15,379,403.94. This trade represents a 18.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

Eaton Price Performance

NYSE ETN opened at $315.21 on Wednesday. The stock has a market capitalization of $124.57 billion, a P/E ratio of 33.18, a P/E/G ratio of 2.27 and a beta of 1.05. 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 fifty day moving average is $348.01 and its two-hundred day moving average is $331.26. Eaton Co. plc has a 1 year low of $255.65 and a 1 year high of $379.99.

Eaton (NYSE:ETN) last announced its earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, beating the consensus estimate of $2.82 by $0.01. Eaton had a return on equity of 22.62% and a net margin of 15.25%. During the same quarter in the prior year, the business earned $2.55 earnings per share. On average, research analysts forecast that Eaton Co. plc will post 12 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on ETN shares. Barclays upped their target price on shares of Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Sanford C. Bernstein started coverage on Eaton in a research report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 target price on the stock. UBS Group began coverage on Eaton in a research report on Wednesday, November 13th. They set a “buy” rating and a $431.00 price target for the company. Citigroup lowered their price target on Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Finally, Royal Bank of Canada reduced their price objective on shares of Eaton from $407.00 to $405.00 and set an “outperform” rating for the company in a report on Monday. Six investment 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 an average price target of $369.20.

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.