James Investment Research Inc. decreased its position in shares of Eaton Co. PLC (NYSE:ETN) by 18.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 103,857 shares of the industrial products company’s stock after selling 23,936 shares during the period. James Investment Research Inc.’s holdings in Eaton were worth $7,131,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of ETN. GW Henssler & Associates Ltd. lifted its stake in shares of Eaton by 2.2% in the fourth quarter. GW Henssler & Associates Ltd. now owns 31,492 shares of the industrial products company’s stock worth $2,162,000 after acquiring an additional 675 shares during the period. First American Bank lifted its stake in shares of Eaton by 5.5% in the fourth quarter. First American Bank now owns 36,249 shares of the industrial products company’s stock worth $2,489,000 after acquiring an additional 1,897 shares during the period. Lodestar Investment Counsel LLC IL lifted its stake in shares of Eaton by 8.3% in the fourth quarter. Lodestar Investment Counsel LLC IL now owns 132,985 shares of the industrial products company’s stock worth $9,131,000 after acquiring an additional 10,205 shares during the period. OLD Second National Bank of Aurora lifted its stake in shares of Eaton by 3.2% in the fourth quarter. OLD Second National Bank of Aurora now owns 33,414 shares of the industrial products company’s stock worth $2,294,000 after acquiring an additional 1,025 shares during the period. Finally, PFG Advisors acquired a new position in shares of Eaton in the fourth quarter worth approximately $487,000. Institutional investors own 79.17% of the company’s stock.
In other Eaton news, insider Joao V. Faria sold 5,000 shares of the business’s stock in a transaction on Monday, February 4th. The stock was sold at an average price of $76.73, for a total value of $383,650.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Curtis J. Hutchins sold 37,625 shares of the business’s stock in a transaction on Thursday, February 7th. The stock was sold at an average price of $76.02, for a total value of $2,860,252.50. Following the completion of the transaction, the insider now directly owns 15,872 shares in the company, valued at approximately $1,206,589.44. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.
Eaton (NYSE:ETN) last announced its quarterly earnings results on Thursday, January 31st. The industrial products company reported $1.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.43 by $0.03. Eaton had a return on equity of 14.06% and a net margin of 9.93%. The business had revenue of $5.46 billion during the quarter, compared to the consensus estimate of $5.42 billion. On average, equities analysts anticipate that Eaton Co. PLC will post 5.87 EPS for the current year.
ETN has been the topic of a number of recent analyst reports. Barclays cut their price objective on Eaton from $75.00 to $73.00 and set an “underweight” rating on the stock in a research note on Monday, January 7th. Wolfe Research downgraded Eaton from an “outperform” rating to a “market perform” rating in a report on Tuesday, January 8th. Wells Fargo & Co reiterated a “buy” rating and issued a $85.00 target price (down from $96.00) on shares of Eaton in a report on Tuesday, October 30th. They noted that the move was a valuation call. Citigroup lowered their target price on Eaton from $92.00 to $88.00 and set a “buy” rating for the company in a report on Friday, November 2nd. Finally, Morgan Stanley lowered their target price on Eaton from $94.00 to $80.00 and set a “hold” rating for the company in a report on Wednesday, October 31st. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and fourteen have issued a buy rating to the stock. Eaton has a consensus rating of “Buy” and a consensus target price of $86.00.
Eaton Corporation plc operates as a power management company worldwide. Its Electrical Products segment offers electrical and industrial components, residential products, single phase power quality products, emergency lighting and fire detection products, wiring devices, structural support systems, and circuit protection and lighting products.
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