Eaton Co. plc (NYSE:ETN) Shares Sold by Csenge Advisory Group

Csenge Advisory Group lessened its holdings in shares of Eaton Co. plc (NYSE:ETN) by 10.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,712 shares of the industrial products company’s stock after selling 199 shares during the quarter. Csenge Advisory Group’s holdings in Eaton were worth $568,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ETN. Geode Capital Management LLC boosted its holdings in Eaton by 0.7% in the third quarter. Geode Capital Management LLC now owns 8,069,341 shares of the industrial products company’s stock worth $2,665,342,000 after acquiring an additional 56,516 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Eaton by 15.1% in the 3rd quarter. Franklin Resources Inc. now owns 2,421,626 shares of the industrial products company’s stock valued at $836,938,000 after purchasing an additional 316,830 shares during the last quarter. Janus Henderson Group PLC boosted its stake in Eaton by 32.8% in the 3rd quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company’s stock worth $801,798,000 after purchasing an additional 597,700 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position 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 purchasing an additional 1,629,856 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its stake in Eaton by 1.0% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,436,051 shares of the industrial products company’s stock valued at $476,582,000 after purchasing an additional 13,862 shares in the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Eaton Stock Up 1.3 %

Shares of ETN opened at $313.04 on Wednesday. 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 firm has a market cap of $123.71 billion, a P/E ratio of 32.95, a PEG ratio of 2.37 and a beta of 1.05. The stock’s 50 day moving average is $336.11 and its two-hundred day moving average is $331.97. Eaton Co. plc has a 12 month low of $255.65 and a 12 month high of $379.99.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, topping 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 in the previous year, the firm earned $2.55 earnings per share. Analysts predict 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 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 transaction, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gregory R. Page sold 10,000 shares of Eaton stock in a transaction 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 sale, the director now directly owns 43,203 shares in the company, valued at approximately $15,379,403.94. This trade 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 corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Melius Research reissued a “hold” rating and set a $373.00 price objective on shares of Eaton in a report on Tuesday, January 28th. Evercore ISI lowered Eaton from an “outperform” rating to an “inline” rating and increased their price objective for the company from $333.00 to $389.00 in a report on Wednesday, November 13th. Royal Bank of Canada decreased their target price on Eaton from $407.00 to $405.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. Jefferies Financial Group raised their price target on shares of Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Finally, Barclays upped their price objective on shares of Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Eaton currently has an average rating of “Moderate Buy” and an average 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.