Eaton Co. plc (NYSE:ETN) is Goelzer Investment Management Inc.’s 8th Largest Position

Goelzer Investment Management Inc. decreased its position in Eaton Co. plc (NYSE:ETN) by 2.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 57,580 shares of the industrial products company’s stock after selling 1,615 shares during the period. Eaton comprises approximately 1.1% of Goelzer Investment Management Inc.’s portfolio, making the stock its 8th biggest holding. Goelzer Investment Management Inc.’s holdings in Eaton were worth $19,109,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of ETN. Geode Capital Management LLC lifted its stake 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 valued at $2,665,342,000 after buying an additional 56,516 shares in the last quarter. Legal & General Group Plc raised its holdings in Eaton by 0.6% during the 2nd quarter. Legal & General Group Plc now owns 3,206,251 shares of the industrial products company’s stock valued at $1,005,317,000 after acquiring an additional 18,077 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Eaton by 15.1% in the third quarter. Franklin Resources Inc. now owns 2,421,626 shares of the industrial products company’s stock worth $836,938,000 after acquiring an additional 316,830 shares during the period. Janus Henderson Group PLC grew its position in shares of Eaton by 32.8% in the third quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company’s stock valued at $801,798,000 after purchasing an additional 597,700 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Eaton by 253.2% during 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 purchasing an additional 1,629,856 shares during the period. 82.97% of the stock is owned by institutional investors.

Eaton Price Performance

Shares of Eaton stock opened at $368.63 on Friday. The stock has a market capitalization of $145.68 billion, a price-to-earnings ratio of 39.22, a price-to-earnings-growth ratio of 2.57 and a beta of 1.06. The company has a fifty day moving average of $353.77 and a 200-day moving average of $331.00. Eaton Co. plc has a 52-week low of $241.87 and a 52-week high of $379.99. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53.

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

Analyst Upgrades and Downgrades

ETN has been the subject of several analyst reports. Citigroup cut their target price on Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Bank of America raised their price objective on shares of Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Evercore ISI lowered shares of Eaton from an “outperform” rating to an “inline” rating and upped their target price for the stock from $333.00 to $389.00 in a report on Wednesday, November 13th. UBS Group initiated coverage on shares of Eaton in a report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 price target for the company. Finally, Royal Bank of Canada upped their price target on shares of Eaton from $374.00 to $392.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Four research 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 stock currently has an average rating of “Moderate Buy” and an average price target of $368.89.

Insider Buying and Selling at Eaton

In other Eaton news, Director Gregory R. Page sold 4,000 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $17,241,796.60. This trade represents a 7.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $378.58, for a total value of $534,554.96. Following the transaction, the insider now owns 31,200 shares of the company’s stock, valued at approximately $11,811,696. This represents a 4.33 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 76,981 shares of company stock worth $27,660,117. 0.53% of the stock is currently 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.