Glenmede Trust Co. NA Purchases 1,247 Shares of Eaton Co. plc (NYSE:ETN)

Glenmede Trust Co. NA grew its stake in shares of Eaton Co. plc (NYSE:ETNGet Rating) by 1.1% in the third quarter, HoldingsChannel.com reports. The fund owned 116,943 shares of the industrial products company’s stock after acquiring an additional 1,247 shares during the quarter. Glenmede Trust Co. NA’s holdings in Eaton were worth $15,594,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Eaton by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 35,545,867 shares of the industrial products company’s stock valued at $4,740,397,000 after acquiring an additional 398,146 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Eaton by 28.5% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 6,916,352 shares of the industrial products company’s stock valued at $922,424,000 after acquiring an additional 1,533,229 shares during the period. Clearbridge Investments LLC lifted its position in shares of Eaton by 17.5% during the 1st quarter. Clearbridge Investments LLC now owns 6,322,217 shares of the industrial products company’s stock valued at $959,460,000 after acquiring an additional 943,279 shares during the period. Nuveen Asset Management LLC lifted its position in shares of Eaton by 4.7% during the 3rd quarter. Nuveen Asset Management LLC now owns 5,449,647 shares of the industrial products company’s stock valued at $726,764,000 after acquiring an additional 244,082 shares during the period. Finally, Alliancebernstein L.P. raised its holdings in shares of Eaton by 3.6% during the 3rd quarter. Alliancebernstein L.P. now owns 5,108,841 shares of the industrial products company’s stock worth $681,315,000 after buying an additional 175,351 shares in the last quarter. 80.19% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Brian S. Brickhouse sold 27,438 shares of the stock in a transaction dated Friday, November 4th. The stock was sold at an average price of $155.76, for a total value of $4,273,742.88. Following the completion of the sale, the insider now owns 28,131 shares of the company’s stock, valued at $4,381,684.56. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.56% of the company’s stock.

Eaton Trading Down 3.4 %

Shares of ETN stock traded down $5.47 on Wednesday, hitting $156.22. The company had a trading volume of 408,261 shares, compared to its average volume of 1,598,685. The firm has a market cap of $62.13 billion, a P/E ratio of 28.27, a P/E/G ratio of 1.76 and a beta of 1.16. The stock’s 50-day moving average is $160.09 and its two-hundred day moving average is $148.96. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.77 and a current ratio of 1.28. Eaton Co. plc has a twelve month low of $122.50 and a twelve month high of $167.51.

Eaton (NYSE:ETNGet Rating) last issued its quarterly earnings results on Tuesday, November 1st. The industrial products company reported $2.02 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.01. The company had revenue of $5.31 billion during the quarter, compared to analysts’ expectations of $5.32 billion. Eaton had a return on equity of 17.66% and a net margin of 11.36%. On average, equities research analysts anticipate that Eaton Co. plc will post 7.55 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. StockNews.com cut Eaton from a “strong-buy” rating to a “buy” rating in a report on Friday, January 20th. Royal Bank of Canada boosted their price target on Eaton from $141.00 to $148.00 and gave the stock a “sector perform” rating in a report on Wednesday, November 2nd. Credit Suisse Group boosted their price target on Eaton from $157.00 to $174.00 and gave the stock an “outperform” rating in a report on Wednesday, November 2nd. Morgan Stanley boosted their price target on Eaton from $174.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, January 6th. Finally, Barclays upped their target price on Eaton from $124.00 to $130.00 and gave the stock an “underweight” rating in a report on Thursday, January 5th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Eaton currently has an average rating of “Moderate Buy” and an average price target of $163.92.

About Eaton

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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.

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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