Sumitomo Mitsui DS Asset Management Company Ltd Grows Stock Holdings in Eaton Co. plc (NYSE:ETN)

Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Eaton Co. plc (NYSE:ETN) by 3.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 89,687 shares of the industrial products company’s stock after acquiring an additional 2,686 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Eaton were worth $29,764,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in ETN. Wetzel Investment Advisors Inc. lifted its holdings in Eaton by 0.9% in the 4th quarter. Wetzel Investment Advisors Inc. now owns 3,101 shares of the industrial products company’s stock worth $1,029,000 after purchasing an additional 28 shares in the last quarter. Strategic Wealth Partners Ltd. raised its position in shares of Eaton by 3.0% during the third quarter. Strategic Wealth Partners Ltd. now owns 1,027 shares of the industrial products company’s stock valued at $340,000 after buying an additional 30 shares during the last quarter. Fairfield Financial Advisors LTD boosted its position in shares of Eaton by 16.2% during the third quarter. Fairfield Financial Advisors LTD now owns 215 shares of the industrial products company’s stock worth $71,000 after acquiring an additional 30 shares during the last quarter. Westmount Partners LLC grew its stake in Eaton by 3.1% during the fourth quarter. Westmount Partners LLC now owns 985 shares of the industrial products company’s stock valued at $327,000 after acquiring an additional 30 shares in the last quarter. Finally, Signal Advisors Wealth LLC increased its holdings in Eaton by 3.5% in the 4th quarter. Signal Advisors Wealth LLC now owns 896 shares of the industrial products company’s stock valued at $297,000 after acquiring an additional 30 shares during the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Eaton

In related news, 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 value of $3,559,800.00. Following the transaction, the director now owns 43,203 shares of the company’s stock, valued at $15,379,403.94. This represents a 18.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of Eaton stock in a transaction on Monday, November 25th. The shares were 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 of the company’s stock, valued at approximately $11,811,696. This trade represents a 4.33 % 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

ETN opened at $315.32 on Friday. The business has a fifty day moving average of $345.63 and a 200 day moving average of $331.17. The stock has a market cap of $124.61 billion, a P/E ratio of 33.19, a PEG ratio of 2.27 and a beta of 1.05. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. Eaton Co. plc has a 52-week low of $255.65 and a 52-week high of $379.99.

Eaton (NYSE:ETN) last issued its earnings results 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 net margin of 15.25% and a return on equity of 22.62%. During the same quarter last year, the company earned $2.55 earnings per share. As a group, sell-side analysts anticipate that Eaton Co. plc will post 12 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Barclays raised their price objective on Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Evercore ISI downgraded Eaton from an “outperform” rating to an “inline” rating and lifted their price objective for the stock from $333.00 to $389.00 in a research note on Wednesday, November 13th. Melius downgraded Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price for the company. in a research report on Tuesday, January 28th. Citigroup reduced their price target on shares of Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Finally, Royal Bank of Canada dropped their price objective on shares of Eaton from $407.00 to $405.00 and set an “outperform” rating for the company in a research note on Monday. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $369.20.

Eaton Company 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.