Gulf International Bank UK Ltd Decreases Stock Holdings in Eaton Co. plc (NYSE:ETN)

Gulf International Bank UK Ltd decreased its holdings in Eaton Co. plc (NYSE:ETN) by 4.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 30,005 shares of the industrial products company’s stock after selling 1,248 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Eaton were worth $9,957,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of ETN. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position 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 worth $753,590,000 after buying an additional 1,629,856 shares during the last quarter. Janus Henderson Group PLC raised its position in Eaton by 32.8% in 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 buying an additional 597,700 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in shares of Eaton during the 3rd quarter valued at about $137,794,000. Assenagon Asset Management S.A. grew its stake in shares of Eaton by 3,508.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 401,728 shares of the industrial products company’s stock valued at $133,321,000 after purchasing an additional 390,595 shares during the period. Finally, Franklin Resources Inc. grew its stake in shares of Eaton by 15.1% during the 3rd quarter. Franklin Resources Inc. now owns 2,421,626 shares of the industrial products company’s stock valued at $836,938,000 after purchasing an additional 316,830 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Transactions at Eaton

In related news, Director Gregory R. Page sold 10,000 shares of the stock in a transaction on 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 sale, the director now owns 43,203 shares in the company, valued at approximately $15,379,403.94. This represents a 18.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ETN. JPMorgan Chase & Co. cut their price target on Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. Wells Fargo & Company restated an “equal weight” rating on shares of Eaton in a research note on Thursday, February 13th. Jefferies Financial Group boosted their price target on Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a research note on Friday, December 6th. UBS Group started coverage on Eaton in a research note on Wednesday, November 13th. They set a “buy” rating and a $431.00 price target for the company. Finally, Evercore ISI cut their price objective on Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a research note on Wednesday, February 19th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $366.05.

Eaton Stock Up 3.4 %

Shares of ETN opened at $297.28 on Thursday. The stock has a market capitalization of $117.48 billion, a price-to-earnings ratio of 31.29, a price-to-earnings-growth ratio of 2.64 and a beta of 1.05. Eaton Co. plc has a 1 year low of $255.65 and a 1 year high of $379.99. The business’s 50 day simple moving average is $328.71 and its 200-day simple moving average is $332.55. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, topping 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 quarter in the previous year, the business posted $2.55 EPS. As a group, equities analysts expect that Eaton Co. plc will post 12.02 earnings per share for the current fiscal 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.