Alps Advisors Inc. cut its position in Eaton Co., PLC (NYSE:ETN) by 1.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 630,892 shares of the industrial products company’s stock after selling 6,628 shares during the period. Alps Advisors Inc.’s holdings in Eaton were worth $49,847,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also recently modified their holdings of ETN. PGGM Investments boosted its stake in shares of Eaton by 142.1% in the third quarter. PGGM Investments now owns 703,839 shares of the industrial products company’s stock worth $54,048,000 after acquiring an additional 413,096 shares during the last quarter. Miller Howard Investments Inc. NY boosted its stake in Eaton by 41.1% during the fourth quarter. Miller Howard Investments Inc. NY now owns 1,077,532 shares of the industrial products company’s stock worth $85,136,000 after buying an additional 313,924 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in Eaton by 91.8% during the third quarter. Canada Pension Plan Investment Board now owns 375,869 shares of the industrial products company’s stock worth $28,863,000 after buying an additional 179,900 shares during the last quarter. Denali Advisors LLC boosted its stake in Eaton by 109.6% during the fourth quarter. Denali Advisors LLC now owns 199,978 shares of the industrial products company’s stock worth $15,800,000 after buying an additional 104,569 shares during the last quarter. Finally, Aperio Group LLC boosted its stake in Eaton by 15.1% during the fourth quarter. Aperio Group LLC now owns 381,172 shares of the industrial products company’s stock worth $30,116,000 after buying an additional 50,119 shares during the last quarter. 76.63% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Eaton Co., PLC (NYSE ETN) opened at $81.58 on Tuesday. The company has a quick ratio of 1.13, a current ratio of 1.65 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $37,490.00, a price-to-earnings ratio of 12.21, a P/E/G ratio of 1.98 and a beta of 1.38. Eaton Co., PLC has a 1-year low of $69.45 and a 1-year high of $89.85.
Eaton (NYSE:ETN) last posted its quarterly earnings data on Thursday, February 1st. The industrial products company reported $1.29 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.25 by $0.04. The firm had revenue of $5.21 billion for the quarter, compared to the consensus estimate of $5.10 billion. Eaton had a return on equity of 12.84% and a net margin of 14.60%. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.12 EPS. research analysts forecast that Eaton Co., PLC will post 5.09 earnings per share for the current fiscal year.
In related news, Director Charles E. Golden sold 4,311 shares of the business’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $76.03, for a total value of $327,765.33. Following the sale, the director now owns 20,275 shares in the company, valued at approximately $1,541,508.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Revathi Advaithi sold 23,743 shares of the business’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $78.36, for a total value of $1,860,501.48. Following the completion of the sale, the insider now owns 31,028 shares in the company, valued at approximately $2,431,354.08. The disclosure for this sale can be found here. Insiders sold a total of 58,938 shares of company stock worth $4,597,529 in the last quarter. Company insiders own 0.80% of the company’s stock.
ETN has been the topic of a number of recent research reports. Citigroup boosted their price objective on Eaton from $88.00 to $90.00 and gave the stock a “buy” rating in a research note on Friday, October 13th. Zacks Investment Research raised Eaton from a “hold” rating to a “buy” rating and set a $88.00 price objective on the stock in a research note on Tuesday, January 2nd. ValuEngine raised Eaton from a “hold” rating to a “buy” rating in a research note on Friday. Stifel Nicolaus raised Eaton from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $77.00 to $99.00 in a research note on Sunday. Finally, Jefferies Group lifted their target price on Eaton from $70.00 to $80.00 and gave the company a “hold” rating in a research report on Wednesday, November 1st. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $86.57.
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Eaton Corporation (Eaton) is a diversified power management company. It is engaged in the manufacturing of electrical components and systems for power quality, distribution and control; hydraulics components, systems and services for industrial and mobile equipment; aerospace fuel, hydraulics and pneumatic systems for commercial and military use, and truck and automotive drivetrain and powertrain systems for performance, fuel economy and safety.
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