Pittenger & Anderson Inc. Decreases Stock Holdings in Eaton Co. plc (NYSE:ETN)

Pittenger & Anderson Inc. trimmed its position in Eaton Co. plc (NYSE:ETN) by 2.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 53,562 shares of the industrial products company’s stock after selling 1,587 shares during the period. Pittenger & Anderson Inc.’s holdings in Eaton were worth $17,776,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Horizon Bancorp Inc. IN increased 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 purchasing an additional 74 shares during the period. Morse Asset Management Inc purchased a new position in Eaton during the 3rd quarter valued at $33,000. Activest Wealth Management increased its position in Eaton by 621.4% during the 4th quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 87 shares during the period. DT Investment Partners LLC purchased a new position in Eaton during the 3rd quarter valued at $37,000. Finally, Hager Investment Management Services LLC bought a new stake in shares of Eaton during the 4th quarter valued at $38,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ETN has been the topic of a number of research reports. UBS Group initiated coverage on shares of Eaton in a report on Wednesday, November 13th. They set a “buy” rating and a $431.00 target price on the stock. Bank of America boosted their target price on shares of Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Wells Fargo & Company dropped their target price on shares of Eaton from $350.00 to $335.00 and set an “equal weight” rating on the stock in a report on Monday, February 3rd. JPMorgan Chase & Co. dropped their target price on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Finally, 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. 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 stock has an average rating of “Moderate Buy” and a consensus target price of $369.20.

Insider Activity

In related news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 31,200 shares of the company’s stock, valued at approximately $11,811,696. This represents a 4.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction of $3,559,800.00. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.53% of the company’s stock.

Eaton Price Performance

Shares of NYSE:ETN opened at $309.21 on Monday. Eaton Co. plc has a fifty-two week low of $255.65 and a fifty-two week high of $379.99. The firm has a market cap of $122.20 billion, a price-to-earnings ratio of 32.55, a price-to-earnings-growth ratio of 2.37 and a beta of 1.05. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. The business has a 50-day simple moving average of $337.21 and a two-hundred day simple moving average of $331.89.

Eaton (NYSE:ETN) last released its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, beating 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 quarter last year, the company posted $2.55 earnings per share. On average, analysts expect that Eaton Co. plc will post 12.04 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.