Eaton Co. plc (NYSE:ETN) Stock Position Decreased by Core Alternative Capital

Core Alternative Capital cut its position in shares of Eaton Co. plc (NYSE:ETN) by 10.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,633 shares of the industrial products company’s stock after selling 652 shares during the period. Core Alternative Capital’s holdings in Eaton were worth $1,869,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in ETN. CHICAGO TRUST Co NA increased its holdings in shares of Eaton by 77.7% during the 3rd quarter. CHICAGO TRUST Co NA now owns 1,965 shares of the industrial products company’s stock valued at $651,000 after acquiring an additional 859 shares during the last quarter. Sound Income Strategies LLC increased its holdings in shares of Eaton by 62.9% during the 3rd quarter. Sound Income Strategies LLC now owns 697 shares of the industrial products company’s stock valued at $231,000 after acquiring an additional 269 shares during the last quarter. Willis Investment Counsel increased its holdings in shares of Eaton by 43.5% during the 3rd quarter. Willis Investment Counsel now owns 61,626 shares of the industrial products company’s stock valued at $20,425,000 after acquiring an additional 18,685 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its holdings in shares of Eaton by 251.5% during the 3rd quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 1,037 shares of the industrial products company’s stock valued at $344,000 after acquiring an additional 742 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Eaton by 3.4% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 6,358 shares of the industrial products company’s stock valued at $2,107,000 after acquiring an additional 207 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Activity

In related news, insider Ernest W. Marshall, Jr. sold 1,412 shares of Eaton stock in a transaction on 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 of the company’s stock, valued at $11,811,696. The trade was a 4.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gregory R. Page sold 10,000 shares of Eaton stock in a transaction on Friday, December 13th. The stock was sold at an average price of $355.98, for a total value of $3,559,800.00. Following the sale, the director now directly owns 43,203 shares of the company’s stock, valued at approximately $15,379,403.94. This trade represents a 18.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.53% of the company’s stock.

Eaton Trading Up 2.2 %

Shares of ETN opened at $319.97 on Tuesday. The stock has a fifty day moving average price of $343.25 and a two-hundred day moving average price of $331.29. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. Eaton Co. plc has a 52-week low of $255.65 and a 52-week high of $379.99. The company has a market cap of $126.45 billion, a price-to-earnings ratio of 33.68, a PEG ratio of 2.37 and a beta of 1.05.

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, beating 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 period in the prior year, the business posted $2.55 earnings per share. Analysts predict that Eaton Co. plc will post 12.04 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ETN has been the topic of a number of research analyst reports. Mizuho raised their target price on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Melius Research reaffirmed a “hold” rating and issued a $373.00 target price on shares of Eaton in a report on Tuesday, January 28th. Melius lowered Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price on the stock. in a report on Tuesday, January 28th. Sanford C. Bernstein initiated coverage on Eaton in a report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 target price on the stock. Finally, Wells Fargo & Company lowered their target price on Eaton from $350.00 to $335.00 and set an “equal weight” rating on the stock in a report on Monday, February 3rd. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $369.20.

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.