Sumitomo Mitsui DS Asset Management Company Ltd lessened its holdings in shares of Eaton Co. PLC (NYSE:ETN) by 3.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 72,386 shares of the industrial products company’s stock after selling 2,907 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Eaton were worth $6,856,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Beese Fulmer Investment Management Inc. lifted its stake in Eaton by 17.2% in the 3rd quarter. Beese Fulmer Investment Management Inc. now owns 12,237 shares of the industrial products company’s stock valued at $1,018,000 after purchasing an additional 1,800 shares during the last quarter. Northern Oak Wealth Management Inc. bought a new position in Eaton in the 3rd quarter valued at approximately $33,000. Wealthsource Partners LLC lifted its stake in Eaton by 15.6% in the 3rd quarter. Wealthsource Partners LLC now owns 6,002 shares of the industrial products company’s stock valued at $499,000 after purchasing an additional 811 shares during the last quarter. Edge Wealth Management LLC lifted its stake in Eaton by 8.9% in the 3rd quarter. Edge Wealth Management LLC now owns 36,990 shares of the industrial products company’s stock valued at $3,075,000 after purchasing an additional 3,035 shares during the last quarter. Finally, OLD Second National Bank of Aurora lifted its stake in Eaton by 2.3% in the 3rd quarter. OLD Second National Bank of Aurora now owns 35,159 shares of the industrial products company’s stock valued at $2,924,000 after purchasing an additional 792 shares during the last quarter. Hedge funds and other institutional investors own 78.20% of the company’s stock.

In other news, insider Richard H. Fearon sold 34,000 shares of the stock in a transaction on Monday, November 4th. The shares were sold at an average price of $90.05, for a total transaction of $3,061,700.00. Following the completion of the sale, the insider now directly owns 200,384 shares in the company, valued at $18,044,579.20. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Joao V. Faria sold 16,988 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $90.98, for a total transaction of $1,545,568.24. Following the sale, the insider now owns 58,841 shares of the company’s stock, valued at $5,353,354.18. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 60,988 shares of company stock valued at $5,527,268. Corporate insiders own 0.70% of the company’s stock.

NYSE ETN traded down $0.91 on Friday, hitting $96.99. The company’s stock had a trading volume of 156,506 shares, compared to its average volume of 2,153,949. The company has a quick ratio of 1.10, a current ratio of 1.72 and a debt-to-equity ratio of 0.52. Eaton Co. PLC has a 1-year low of $67.97 and a 1-year high of $99.82. The company’s 50-day moving average is $94.62 and its 200 day moving average is $86.25. The firm has a market cap of $40.17 billion, a PE ratio of 17.24, a PEG ratio of 1.93 and a beta of 1.43.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.52 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.51 by $0.01. Eaton had a net margin of 11.06% and a return on equity of 15.15%. The firm had revenue of $5.31 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same period in the prior year, the company posted $1.43 EPS. The company’s revenue was down 1.8% on a year-over-year basis. On average, equities analysts expect that Eaton Co. PLC will post 5.71 EPS for the current year.

Several brokerages recently commented on ETN. HSBC downgraded shares of Eaton from a “buy” rating to a “hold” rating and dropped their price objective for the company from $99.00 to $96.00 in a research note on Tuesday, November 12th. UBS Group began coverage on shares of Eaton in a research note on Thursday, December 12th. They issued a “neutral” rating and a $98.00 price objective for the company. Deutsche Bank downgraded shares of Eaton from a “buy” rating to a “hold” rating in a research note on Wednesday, December 4th. Wells Fargo & Co increased their price objective on shares of Eaton from $100.00 to $105.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Finally, Stephens reissued a “buy” rating and issued a $110.00 price objective on shares of Eaton in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $96.56.

Eaton Profile

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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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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