Eaton Co. PLC (NYSE:ETN) Shares Sold by Swiss National Bank

Swiss National Bank decreased its holdings in Eaton Co. PLC (NYSE:ETN) by 5.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,324,400 shares of the industrial products company’s stock after selling 72,900 shares during the quarter. Swiss National Bank owned approximately 0.32% of Eaton worth $125,447,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the stock. BlackRock Inc. increased its holdings in Eaton by 1.1% in the second quarter. BlackRock Inc. now owns 30,504,507 shares of the industrial products company’s stock valued at $2,540,415,000 after buying an additional 341,830 shares during the last quarter. State of New Jersey Common Pension Fund D increased its holdings in Eaton by 717.8% in the third quarter. State of New Jersey Common Pension Fund D now owns 327,100 shares of the industrial products company’s stock valued at $27,198,000 after buying an additional 287,100 shares during the last quarter. Parametric Portfolio Associates LLC increased its holdings in Eaton by 10.7% in the third quarter. Parametric Portfolio Associates LLC now owns 1,888,584 shares of the industrial products company’s stock valued at $157,036,000 after buying an additional 181,900 shares during the last quarter. Bartlett & Co. LLC increased its holdings in Eaton by 4,241.2% in the third quarter. Bartlett & Co. LLC now owns 140,829 shares of the industrial products company’s stock valued at $11,710,000 after buying an additional 137,585 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in Eaton by 0.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 16,004,831 shares of the industrial products company’s stock valued at $1,330,803,000 after buying an additional 135,822 shares during the last quarter. Institutional investors and hedge funds own 77.78% of the company’s stock.

Shares of NYSE:ETN traded down $0.03 during trading on Friday, hitting $102.86. 96,241 shares of the company traded hands, compared to its average volume of 2,788,673. The stock has a market capitalization of $42.59 billion, a price-to-earnings ratio of 19.58, a PEG ratio of 2.04 and a beta of 1.42. The business’s fifty day moving average is $96.82 and its 200-day moving average is $88.18. Eaton Co. PLC has a one year low of $74.29 and a one year high of $104.97. The company has a quick ratio of 1.15, a current ratio of 1.70 and a debt-to-equity ratio of 0.51.

Eaton (NYSE:ETN) last posted its earnings results on Tuesday, February 4th. The industrial products company reported $1.37 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.40 by ($0.03). The company had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.37 billion. Eaton had a net margin of 10.34% and a return on equity of 14.75%. The firm’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same period last year, the company posted $1.46 earnings per share. On average, analysts forecast that Eaton Co. PLC will post 5.77 EPS for the current year.

Several analysts recently weighed in on ETN shares. Barclays raised Eaton from an “underweight” rating to an “equal weight” rating and set a $97.00 price objective for the company in a report on Friday, February 7th. Gordon Haskett raised Eaton from a “reduce” rating to a “hold” rating in a report on Wednesday. Wolfe Research raised Eaton from a “peer perform” rating to an “outperform” rating in a report on Thursday, January 9th. Deutsche Bank raised Eaton from a “hold” rating to a “buy” rating and boosted their price objective for the company from $102.00 to $115.00 in a report on Wednesday, February 5th. Finally, Stephens boosted their price objective on Eaton from $110.00 to $112.00 and gave the company an “overweight” rating in a report on Monday. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Eaton presently has a consensus rating of “Buy” and an average target price of $101.56.

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.

Further Reading: Trading Ex-Dividend

Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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