Vaughan Nelson Investment Management L.P. Raises Stock Position in Eaton Co. plc (NYSE:ETN)

Vaughan Nelson Investment Management L.P. grew its stake in Eaton Co. plc (NYSE:ETN) by 7.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 445,706 shares of the industrial products company’s stock after purchasing an additional 29,963 shares during the quarter. Eaton makes up 1.4% of Vaughan Nelson Investment Management L.P.’s holdings, making the stock its 22nd biggest position. Vaughan Nelson Investment Management L.P. owned about 0.11% of Eaton worth $147,916,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Groupama Asset Managment boosted its stake in shares of Eaton by 83.2% in the third quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 4,298 shares during the last quarter. Horizon Bancorp Inc. IN lifted its holdings in Eaton by 321.7% in the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 74 shares in the last quarter. Morse Asset Management Inc purchased a new stake in shares of Eaton during the third quarter worth $33,000. DT Investment Partners LLC acquired a new stake in shares of Eaton in the third quarter valued at about $37,000. Finally, Hager Investment Management Services LLC acquired a new position in Eaton during the fourth quarter worth about $38,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Price Performance

Eaton stock opened at $313.11 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. Eaton Co. plc has a 52-week low of $255.65 and a 52-week high of $379.99. The firm has a market cap of $123.74 billion, a PE ratio of 32.96, a price-to-earnings-growth ratio of 2.37 and a beta of 1.05. The company’s 50 day moving average is $343.25 and its two-hundred day moving average is $331.01.

Eaton (NYSE:ETN) last released its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 last year, the firm earned $2.55 earnings per share. On average, research analysts expect that Eaton Co. plc will post 12.04 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gregory R. Page sold 10,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at $15,379,403.94. This trade represents a 18.80 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ETN. UBS Group began coverage on shares of Eaton in a report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 price objective for the company. Citigroup lowered their price objective on Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Sanford C. Bernstein began 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. Wells Fargo & Company dropped their price objective on shares of Eaton from $350.00 to $335.00 and set an “equal weight” rating for the company in a report on Monday, February 3rd. Finally, Melius Research reiterated a “hold” rating and issued a $373.00 target price on shares of Eaton in a report on Tuesday, January 28th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $369.20.

Eaton 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.