Empowered Funds LLC Sells 994 Shares of Eaton Co. plc (NYSE:ETN)

Empowered Funds LLC decreased its position in shares of Eaton Co. plc (NYSE:ETN) by 10.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 8,906 shares of the industrial products company’s stock after selling 994 shares during the period. Empowered Funds LLC’s holdings in Eaton were worth $2,956,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Groupama Asset Managment lifted its position in Eaton by 83.2% during the third quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock valued at $31,000 after buying an additional 4,298 shares during the period. Horizon Bancorp Inc. IN lifted its position in Eaton by 321.7% during the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 74 shares during the period. Morse Asset Management Inc bought a new stake in Eaton during the third quarter worth about $33,000. DT Investment Partners LLC purchased a new stake in Eaton in the third quarter worth about $37,000. Finally, Hager Investment Management Services LLC bought a new position in shares of Eaton during the fourth quarter valued at approximately $38,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Evercore ISI downgraded Eaton from an “outperform” rating to an “inline” rating and upped their price target for the stock from $333.00 to $389.00 in a research note on Wednesday, November 13th. Jefferies Financial Group raised their price target on Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a report on Friday, December 6th. Royal Bank of Canada dropped their price target on shares of Eaton from $407.00 to $405.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd. Barclays lifted their target price on shares of Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Finally, Citigroup dropped their target price on shares of Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Eaton presently has a consensus rating of “Moderate Buy” and an average price target of $369.20.

Insider Activity at Eaton

In related news, Director Gregory R. Page sold 10,000 shares of Eaton stock in a transaction on Friday, December 13th. The shares were sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the transaction, the director now owns 43,203 shares in the company, valued at approximately $15,379,403.94. The trade was a 18.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the 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 completion of the sale, the insider now owns 31,200 shares of the company’s stock, valued at $11,811,696. The trade was a 4.33 % decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is owned by company insiders.

Eaton Price Performance

NYSE ETN opened at $307.70 on Friday. 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 market capitalization of $121.60 billion, a P/E ratio of 32.39, a PEG ratio of 2.37 and a beta of 1.05. The company has a 50-day moving average price of $339.72 and a 200-day moving average price of $331.47. Eaton Co. plc has a 52 week low of $255.65 and a 52 week high of $379.99.

Eaton (NYSE:ETN) last released its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, topping the consensus estimate 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 period in the prior year, the firm earned $2.55 EPS. Equities research analysts anticipate that Eaton Co. plc will post 12.04 earnings per share for the current year.

About Eaton

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.