Schear Investment Advisers LLC Invests $935,000 in Eaton Co. plc (NYSE:ETN)

Schear Investment Advisers LLC acquired a new stake in Eaton Co. plc (NYSE:ETN) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 2,817 shares of the industrial products company’s stock, valued at approximately $935,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its position in shares of Eaton by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 8,069,341 shares of the industrial products company’s stock worth $2,665,342,000 after purchasing an additional 56,516 shares in the last quarter. Franklin Resources Inc. grew its position in Eaton by 15.1% during the third quarter. Franklin Resources Inc. now owns 2,421,626 shares of the industrial products company’s stock worth $836,938,000 after buying an additional 316,830 shares in the last quarter. Janus Henderson Group PLC increased its stake in Eaton by 32.8% during the 3rd quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company’s stock worth $801,798,000 after acquiring an additional 597,700 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in 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 acquiring an additional 1,629,856 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Eaton by 1.0% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,436,051 shares of the industrial products company’s stock worth $476,582,000 after purchasing an additional 13,862 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Eaton

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 of the company’s stock, valued at $15,379,403.94. The trade was a 18.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $378.58, for a total transaction of $534,554.96. Following the completion of the sale, the insider now directly owns 31,200 shares in the company, valued at approximately $11,811,696. The trade was a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by company insiders.

Eaton Stock Performance

ETN stock opened at $316.92 on Wednesday. The business has a 50 day moving average of $342.21 and a 200-day moving average of $331.48. The firm has a market cap of $125.25 billion, a PE ratio of 33.36, a P/E/G ratio of 2.37 and a beta of 1.05. Eaton Co. plc has a 12-month low of $255.65 and a 12-month high of $379.99. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share 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 quarter last year, the company earned $2.55 earnings per share. As a group, sell-side analysts expect that Eaton Co. plc will post 12.04 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Evercore ISI downgraded shares of Eaton from an “outperform” rating to an “inline” rating and increased their price objective for the stock from $333.00 to $389.00 in a research note on Wednesday, November 13th. Citigroup decreased their price objective on shares of Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Melius Research restated a “hold” rating and set a $373.00 target price on shares of Eaton in a research note on Tuesday, January 28th. Royal Bank of Canada decreased their price target on Eaton from $407.00 to $405.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd. Finally, Bank of America boosted their price target on Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Six investment 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, the company presently has an average rating of “Moderate Buy” and an average price target of $369.20.

About Eaton

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.