Factory Mutual Insurance Co. Has $56.13 Million Stock Holdings in Eaton Co. plc (NYSE:ETN)

Factory Mutual Insurance Co. decreased its position in shares of Eaton Co. plc (NYSE:ETN) by 20.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 169,119 shares of the industrial products company’s stock after selling 43,000 shares during the quarter. Factory Mutual Insurance Co.’s holdings in Eaton were worth $56,126,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in ETN. B. Riley Wealth Advisors Inc. increased its stake in shares of Eaton by 48.9% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 41,106 shares of the industrial products company’s stock valued at $13,533,000 after acquiring an additional 13,497 shares in the last quarter. Lighthouse Wealth Management Inc. bought a new stake in shares of Eaton in the 4th quarter valued at $297,000. Webster Bank N. A. increased its stake in shares of Eaton by 52.4% in the 4th quarter. Webster Bank N. A. now owns 17,925 shares of the industrial products company’s stock valued at $5,949,000 after acquiring an additional 6,166 shares in the last quarter. Ballentine Partners LLC grew its position in Eaton by 9.3% in the 4th quarter. Ballentine Partners LLC now owns 9,256 shares of the industrial products company’s stock valued at $3,072,000 after purchasing an additional 790 shares during the period. Finally, Blue Trust Inc. grew its position in Eaton by 13.2% in the 4th quarter. Blue Trust Inc. now owns 14,494 shares of the industrial products company’s stock valued at $4,804,000 after purchasing an additional 1,694 shares during the period. Institutional investors own 82.97% of the company’s stock.

Insider Activity at Eaton

In related news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the business’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 directly owns 31,200 shares in the company, valued at approximately $11,811,696. The trade was a 4.33 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Gregory R. Page sold 10,000 shares of the company’s stock in a transaction dated 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 sale, the director now owns 43,203 shares in the company, 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. In the last three months, insiders have sold 72,981 shares of company stock worth $26,318,917. Company insiders own 0.53% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on ETN. Jefferies Financial Group lifted their price target on shares of Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Bank of America lifted their price target on shares of Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. UBS Group began coverage on shares of Eaton in a research report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 price target for the company. Mizuho lifted their price target on shares of Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, Melius downgraded shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 price objective on the stock. in a report on Tuesday. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $369.30.

Eaton Price Performance

Shares of NYSE:ETN opened at $326.32 on Friday. The company’s 50-day moving average is $350.25 and its 200 day moving average is $331.09. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53. The company has a market capitalization of $128.96 billion, a P/E ratio of 34.72, a price-to-earnings-growth ratio of 2.21 and a beta of 1.06. Eaton Co. plc has a fifty-two week low of $245.65 and a fifty-two week high of $379.99.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.82 by $0.01. Eaton had a return on equity of 21.97% and a net margin of 15.32%. During the same period in the previous year, the company posted $2.55 EPS. On average, equities research analysts forecast that Eaton Co. plc will post 10.79 earnings per share for the current 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.