Hengehold Capital Management LLC Has $286,000 Stock Position in Eaton Co. plc (NYSE:ETN)

Hengehold Capital Management LLC trimmed its position in shares of Eaton Co. plc (NYSE:ETN) by 5.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 861 shares of the industrial products company’s stock after selling 46 shares during the quarter. Hengehold Capital Management LLC’s holdings in Eaton were worth $286,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Eaton in the second quarter valued at $338,000. AQR Capital Management LLC boosted its stake in Eaton by 63.6% during the second quarter. AQR Capital Management LLC now owns 509,906 shares of the industrial products company’s stock valued at $159,881,000 after buying an additional 198,180 shares during the period. APG Asset Management N.V. increased its position in shares of Eaton by 33.7% in the second quarter. APG Asset Management N.V. now owns 199,553 shares of the industrial products company’s stock worth $58,381,000 after purchasing an additional 50,340 shares during the last quarter. Electron Capital Partners LLC raised its position in shares of Eaton by 8,348.9% during the 2nd quarter. Electron Capital Partners LLC now owns 446,524 shares of the industrial products company’s stock valued at $140,008,000 after buying an additional 441,239 shares in the last quarter. Finally, DE Burlo Group Inc. lifted its stake in Eaton by 74.6% during the second quarter. DE Burlo Group Inc. now owns 62,740 shares of the industrial products company’s stock worth $19,672,000 after purchasing an additional 26,800 shares during the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Sanford C. Bernstein initiated coverage on shares of Eaton in a report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 target price on the stock. JPMorgan Chase & Co. dropped their target price on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research report on Wednesday, January 15th. Wells Fargo & Company lowered their price objective on Eaton from $365.00 to $350.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Barclays increased their target price on Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Finally, Evercore ISI cut Eaton from an “outperform” rating to an “inline” rating and boosted their price target for the stock from $333.00 to $389.00 in a research note on Wednesday, November 13th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $368.89.

Eaton Stock Performance

NYSE ETN opened at $369.58 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53. The business’s 50 day moving average price is $353.61 and its 200-day moving average price is $330.74. The company has a market cap of $146.06 billion, a P/E ratio of 39.32, a P/E/G ratio of 2.48 and a beta of 1.06. Eaton Co. plc has a fifty-two week low of $241.45 and a fifty-two week high of $379.99.

Eaton (NYSE:ETN) last released its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. The firm had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the previous year, the company earned $2.47 EPS. Sell-side analysts predict that Eaton Co. plc will post 10.79 earnings per share for the current year.

Insider Buying and Selling at Eaton

In related news, insider Craig Arnold sold 61,569 shares of the stock in a transaction that occurred on 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 $182,780,769.20. This represents a 10.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gregory R. Page sold 4,000 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $335.30, for a total value of $1,341,200.00. Following the completion of the sale, the director now owns 51,422 shares of the company’s stock, valued at $17,241,796.60. This represents a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 76,981 shares of company stock valued at $27,660,117 in the last quarter. 0.53% of the stock is owned by insiders.

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.