Pegasus Asset Management Inc. Trims Stock Position in Eaton Co. plc (NYSE:ETN)

Pegasus Asset Management Inc. lessened its holdings in Eaton Co. plc (NYSE:ETN) by 1.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 30,737 shares of the industrial products company’s stock after selling 318 shares during the period. Eaton makes up about 3.8% of Pegasus Asset Management Inc.’s investment portfolio, making the stock its 6th largest position. Pegasus Asset Management Inc.’s holdings in Eaton were worth $10,201,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Eaton by 253.2% in 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 valued at $753,590,000 after purchasing an additional 1,629,856 shares during the last quarter. International Assets Investment Management LLC lifted its position in Eaton by 27,075.5% in the third quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company’s stock worth $355,959,000 after buying an additional 1,070,024 shares during the last quarter. Janus Henderson Group PLC boosted its stake 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 worth $801,798,000 after buying an additional 597,700 shares during the period. Vaughan Nelson Investment Management L.P. bought a new position in Eaton during the third quarter valued at $137,794,000. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Eaton by 3,508.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 401,728 shares of the industrial products company’s stock worth $133,321,000 after acquiring an additional 390,595 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling

In other Eaton news, 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 transaction of $3,559,800.00. Following the completion of the transaction, the director now 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the company’s stock in a transaction that occurred 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 in the company, valued at approximately $11,811,696. This represents a 4.33 % decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

ETN has been the subject of several recent analyst reports. Sanford C. Bernstein started coverage on Eaton in a research report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 target price for the company. Melius Research reiterated a “hold” rating and set a $373.00 target price on shares of Eaton in a research report on Tuesday, January 28th. Melius cut shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 price target on the stock. in a report on Tuesday, January 28th. Mizuho boosted their price objective on shares of Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, Royal Bank of Canada decreased their price target on shares of Eaton from $407.00 to $405.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Eaton presently has an average rating of “Moderate Buy” and a consensus price target of $369.20.

Eaton Price Performance

NYSE ETN opened at $313.04 on Wednesday. Eaton Co. plc has a 12-month low of $255.65 and a 12-month high of $379.99. The firm’s fifty day simple moving average is $335.20 and its two-hundred day simple moving average is $332.20. 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 capitalization of $123.71 billion, a P/E ratio of 32.95, a P/E/G ratio of 2.64 and a beta of 1.05.

Eaton (NYSE:ETN) last announced its quarterly earnings data 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 period last year, the company posted $2.55 earnings per share. Analysts forecast that Eaton Co. plc will post 12.03 EPS for the current fiscal year.

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.