ING Groep NV Has $25.41 Million Stock Holdings in Eaton Co. plc (NYSE:ETN)

ING Groep NV lessened its position in shares of Eaton Co. plc (NYSE:ETN) by 66.8% during the 4th quarter, HoldingsChannel reports. The fund owned 76,575 shares of the industrial products company’s stock after selling 154,267 shares during the quarter. ING Groep NV’s holdings in Eaton were worth $25,413,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in ETN. Parcion Private Wealth LLC increased its holdings in Eaton by 313.9% in the fourth quarter. Parcion Private Wealth LLC now owns 28,637 shares of the industrial products company’s stock valued at $9,504,000 after purchasing an additional 21,719 shares during the last quarter. Boston Financial Mangement LLC increased its holdings in Eaton by 15.8% in the fourth quarter. Boston Financial Mangement LLC now owns 5,680 shares of the industrial products company’s stock valued at $1,885,000 after purchasing an additional 775 shares during the last quarter. Concurrent Investment Advisors LLC increased its holdings in Eaton by 0.3% in the fourth quarter. Concurrent Investment Advisors LLC now owns 19,251 shares of the industrial products company’s stock valued at $6,389,000 after purchasing an additional 63 shares during the last quarter. Advyzon Investment Management LLC bought a new stake in shares of Eaton in the fourth quarter worth about $359,000. Finally, Sunpointe LLC bought a new stake in shares of Eaton in the fourth quarter worth about $203,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Activity

In other news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $378.58, for a total value 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 $11,811,696. This trade represents a 4.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Gregory R. Page sold 10,000 shares of the firm’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 value 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 approximately $15,379,403.94. The trade was a 18.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.53% of the company’s stock.

Wall Street Analyst Weigh In

ETN has been the subject of several recent analyst reports. Citigroup lowered their price target on Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a report on Monday, January 13th. Bank of America increased their price target on Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. lowered their price target on Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Melius Research restated a “hold” rating and issued a $373.00 price target on shares of Eaton in a report on Tuesday, January 28th. Finally, Barclays increased their price target on Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $366.05.

Eaton Stock Performance

Shares of NYSE ETN opened at $308.95 on Friday. The stock has a 50 day moving average price of $333.15 and a 200 day moving average price of $331.88. Eaton Co. plc has a 52 week low of $255.65 and a 52 week high of $379.99. 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 stock has a market capitalization of $122.10 billion, a PE ratio of 32.52, a price-to-earnings-growth ratio of 2.68 and a beta of 1.05.

Eaton (NYSE:ETN) last issued its quarterly 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 previous year, the firm earned $2.55 earnings per share. Analysts predict that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

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.