Eaton Co. plc (NYSE:ETN) Shares Sold by Jennison Associates LLC

Jennison Associates LLC reduced its stake in shares of Eaton Co. plc (NYSE:ETN) by 1.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 4,319,679 shares of the industrial products company’s stock after selling 71,070 shares during the period. Eaton makes up approximately 0.9% of Jennison Associates LLC’s portfolio, making the stock its 28th largest position. Jennison Associates LLC’s holdings in Eaton were worth $1,433,572,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ETN. Wetzel Investment Advisors Inc. raised its stake in Eaton by 0.9% in the 4th quarter. Wetzel Investment Advisors Inc. now owns 3,101 shares of the industrial products company’s stock valued at $1,029,000 after acquiring an additional 28 shares during the period. Strategic Wealth Partners Ltd. raised its position in shares of Eaton by 3.0% in the third quarter. Strategic Wealth Partners Ltd. now owns 1,027 shares of the industrial products company’s stock valued at $340,000 after purchasing an additional 30 shares during the period. Fairfield Financial Advisors LTD boosted its holdings in shares of Eaton by 16.2% during the 3rd quarter. Fairfield Financial Advisors LTD now owns 215 shares of the industrial products company’s stock worth $71,000 after buying an additional 30 shares during the period. Westmount Partners LLC grew its stake in Eaton by 3.1% in the 4th quarter. Westmount Partners LLC now owns 985 shares of the industrial products company’s stock valued at $327,000 after buying an additional 30 shares during the last quarter. Finally, Signal Advisors Wealth LLC raised its holdings in Eaton by 3.5% in the 4th quarter. Signal Advisors Wealth LLC now owns 896 shares of the industrial products company’s stock valued at $297,000 after acquiring an additional 30 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on ETN. Barclays raised their target price 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. Melius downgraded shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 price objective for the company. in a research report on Tuesday, January 28th. Sanford C. Bernstein initiated coverage on Eaton in a report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 target price on the stock. Mizuho boosted their price target on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, JPMorgan Chase & Co. reduced their price objective on Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $369.30.

Insider Transactions 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 sale, the insider now owns 31,200 shares in the company, valued at approximately $11,811,696. This trade represents a 4.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Craig Arnold sold 61,569 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total value of $22,224,561.93. Following the transaction, the insider now owns 506,360 shares of the company’s stock, valued at approximately $182,780,769.20. The trade was a 10.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 72,981 shares of company stock valued at $26,318,917 over the last ninety days. 0.33% of the stock is currently owned by insiders.

Eaton Stock Performance

Shares of Eaton stock opened at $326.32 on Monday. The company has a market cap of $128.96 billion, a P/E ratio of 34.35, a PEG ratio of 2.27 and a beta of 1.05. 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 business has a 50-day moving average price of $349.23 and a two-hundred day moving average price of $331.21. Eaton Co. plc has a 1-year low of $245.65 and a 1-year high of $379.99.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.82 by $0.01. Eaton had a return on equity of 22.62% and a net margin of 15.25%. During the same period last year, the firm earned $2.55 EPS. As a group, analysts anticipate that Eaton Co. plc will post 12 EPS for the current 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.