Hartford Investment Management Co. Sells 596 Shares of Eaton Co. plc (NYSE:ETN)

Hartford Investment Management Co. decreased its stake in shares of Eaton Co. plc (NYSE:ETN) by 2.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,460 shares of the industrial products company’s stock after selling 596 shares during the period. Hartford Investment Management Co.’s holdings in Eaton were worth $8,118,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of ETN. Horizon Bancorp Inc. IN grew its holdings in shares of Eaton by 321.7% during the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 74 shares during the period. Morse Asset Management Inc bought a new stake in shares of Eaton during the third quarter valued at approximately $33,000. Activest Wealth Management grew its stake in Eaton by 621.4% in the fourth quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 87 shares during the period. DT Investment Partners LLC bought a new position in Eaton in the third quarter worth $37,000. Finally, Hager Investment Management Services LLC purchased a new position in Eaton during the fourth quarter valued at $38,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insiders Place Their Bets

In related news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the firm’s stock in a transaction 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 transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gregory R. Page sold 10,000 shares of the business’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 directly owns 43,203 shares of the company’s stock, valued at $15,379,403.94. This represents a 18.80 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.53% of the company’s stock.

Eaton Stock Down 0.9 %

ETN opened at $316.92 on Wednesday. Eaton Co. plc has a twelve month low of $255.65 and a twelve month high of $379.99. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. The firm has a 50 day moving average price of $342.21 and a 200-day moving average price of $331.48. The stock has a market capitalization of $125.25 billion, a price-to-earnings ratio of 33.36, a PEG ratio of 2.37 and a beta of 1.05.

Eaton (NYSE:ETN) last announced its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share 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 firm posted $2.55 earnings per share. Equities research analysts forecast that Eaton Co. plc will post 12.04 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. decreased their price target on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. Evercore ISI downgraded shares of Eaton from an “outperform” rating to an “inline” rating and raised their target price for the company from $333.00 to $389.00 in a research note on Wednesday, November 13th. Wells Fargo & Company lowered their target price on shares of Eaton from $350.00 to $335.00 and set an “equal weight” rating for the company in a report on Monday, February 3rd. Melius downgraded Eaton from a “buy” rating to a “hold” rating and set a $373.00 price target on the stock. in a research note on Tuesday, January 28th. Finally, Mizuho lifted their price objective on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, Eaton currently has a consensus rating of “Moderate Buy” and a consensus target price of $369.20.

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.