Bey Douglas LLC Sells 95 Shares of Eaton Co. plc (NYSE:ETN)

Bey Douglas LLC lessened its holdings in Eaton Co. plc (NYSE:ETN) by 1.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,663 shares of the industrial products company’s stock after selling 95 shares during the quarter. Eaton accounts for 1.9% of Bey Douglas LLC’s investment portfolio, making the stock its 18th largest position. Bey Douglas LLC’s holdings in Eaton were worth $2,211,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in ETN. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Eaton by 253.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,273,685 shares of the industrial products company’s stock worth $753,590,000 after acquiring an additional 1,629,856 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of Eaton by 27,075.5% in the 3rd quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company’s stock worth $355,959,000 after purchasing an additional 1,070,024 shares in the last quarter. Janus Henderson Group PLC grew its position in Eaton by 32.8% during the third quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company’s stock valued at $801,798,000 after acquiring an additional 597,700 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in shares of Eaton during the 3rd quarter valued at $137,794,000. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Eaton by 3,508.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 401,728 shares of the industrial products company’s stock worth $133,321,000 after buying an additional 390,595 shares during the period. Institutional investors own 82.97% of the company’s stock.

Eaton Stock Performance

Shares of ETN stock opened at $307.70 on Friday. Eaton Co. plc has a 12-month low of $255.65 and a 12-month high of $379.99. The business’s fifty day simple moving average is $339.72 and its 200-day simple moving average is $331.47. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. The company has a market cap of $121.60 billion, a PE ratio of 32.39, 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 (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 last year, the company posted $2.55 EPS. Analysts expect that Eaton Co. plc will post 12.04 earnings per share for the current fiscal year.

Insider Activity at Eaton

In related news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the company’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 $11,811,696. This represents a 4.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gregory R. Page sold 10,000 shares of Eaton stock in a transaction dated 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 sale, the director now directly owns 43,203 shares of the company’s stock, valued at approximately $15,379,403.94. This represents a 18.80 % decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by insiders.

Analyst Ratings Changes

ETN has been the subject of several recent analyst reports. JPMorgan Chase & Co. lowered their price objective 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. Mizuho increased their price target on shares of Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Barclays lifted their price objective on Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Melius Research reiterated a “hold” rating and set a $373.00 price target on shares of Eaton in a report on Tuesday, January 28th. Finally, 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 report on Wednesday, November 13th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target 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.