Los Angeles Capital Management LLC Sells 114 Shares of Eaton Co. plc (NYSE:ETN)

Los Angeles Capital Management LLC trimmed its holdings in shares of Eaton Co. plc (NYSE:ETN) by 0.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 274,827 shares of the industrial products company’s stock after selling 114 shares during the period. Los Angeles Capital Management LLC owned about 0.07% of Eaton worth $91,207,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in ETN. FourThought Financial Partners LLC bought a new stake in Eaton in the 4th quarter valued at about $395,000. Brown Financial Advisors increased its position in shares of Eaton by 7.8% during the fourth quarter. Brown Financial Advisors now owns 3,255 shares of the industrial products company’s stock valued at $1,080,000 after buying an additional 235 shares during the period. Transcendent Capital Group LLC bought a new stake in shares of Eaton during the fourth quarter valued at about $58,000. Trifecta Capital Advisors LLC increased its position in shares of Eaton by 3.5% during the fourth quarter. Trifecta Capital Advisors LLC now owns 16,319 shares of the industrial products company’s stock valued at $5,416,000 after buying an additional 545 shares during the period. Finally, Mengis Capital Management Inc. increased its position in shares of Eaton by 5.5% during the fourth quarter. Mengis Capital Management Inc. now owns 2,772 shares of the industrial products company’s stock valued at $920,000 after buying an additional 145 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on ETN shares. Mizuho boosted their price objective on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Jefferies Financial Group upped their target price on Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Royal Bank of Canada reaffirmed an “outperform” rating on shares of Eaton in a research note on Thursday, February 13th. JPMorgan Chase & Co. cut their target price on Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. Finally, Sanford C. Bernstein started coverage on Eaton in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 target price for the company. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $366.05.

Eaton Trading Down 2.6 %

Eaton stock opened at $289.68 on Tuesday. The stock has a market capitalization of $114.48 billion, a PE ratio of 30.49, a price-to-earnings-growth ratio of 2.64 and a beta of 1.05. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. The business’s fifty day moving average is $330.66 and its 200 day moving average is $332.83. Eaton Co. plc has a one year low of $255.65 and a one year high of $379.99.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 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 period in the prior year, the company earned $2.55 EPS. On average, sell-side analysts predict that Eaton Co. plc will post 12.02 EPS for the current year.

Insider Activity at Eaton

In other Eaton news, Director Gregory R. Page sold 10,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 43,203 shares in the company, valued at $15,379,403.94. This trade represents a 18.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.53% of the stock is owned by corporate insiders.

About Eaton

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.