BDF Gestion Lowers Position in Eaton Co. plc (NYSE:ETN)

BDF Gestion lessened its stake in Eaton Co. plc (NYSE:ETN) by 11.5% during the 4th quarter, HoldingsChannel reports. The firm owned 7,079 shares of the industrial products company’s stock after selling 921 shares during the quarter. BDF Gestion’s holdings in Eaton were worth $2,349,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Horizon Bancorp Inc. IN boosted its position in Eaton by 321.7% in the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 74 shares in the last quarter. Morse Asset Management Inc purchased a new stake in Eaton in the 3rd quarter worth approximately $33,000. West Financial Advisors LLC acquired a new position in shares of Eaton during the 3rd quarter worth approximately $35,000. DT Investment Partners LLC acquired a new position in shares of Eaton during the 3rd quarter worth approximately $37,000. Finally, RPg Family Wealth Advisory LLC acquired a new position in shares of Eaton during the 3rd quarter worth approximately $44,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Stock Performance

Shares of ETN opened at $317.90 on Thursday. The stock has a 50-day simple moving average of $351.98 and a 200-day simple moving average of $331.21. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53. The stock has a market capitalization of $125.63 billion, a PE ratio of 33.82, a PEG ratio of 2.57 and a beta of 1.06. Eaton Co. plc has a 1 year low of $245.65 and a 1 year high of $379.99.

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 the consensus estimate of $2.80 by $0.04. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The business had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.37 billion. During the same quarter last year, the business posted $2.47 EPS. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. On average, analysts predict that Eaton Co. plc will post 10.79 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ETN shares. Sanford C. Bernstein began coverage on Eaton in a research note on Tuesday, November 5th. They set an “outperform” rating and a $382.00 target price for the company. Bank of America increased their price objective on Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Royal Bank of Canada increased their price objective on Eaton from $374.00 to $392.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. UBS Group began coverage on Eaton in a research note on Wednesday, November 13th. They issued a “buy” rating and a $431.00 price objective for the company. Finally, Citigroup reduced their price objective on Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $369.30.

Insider Transactions at Eaton

In other news, Director Gregory R. Page sold 4,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the sale, the director now owns 51,422 shares of the company’s stock, valued at approximately $17,241,796.60. This trade represents a 7.22 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of Eaton stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $378.58, for a total value of $534,554.96. Following the transaction, the insider now directly owns 31,200 shares in the company, valued at approximately $11,811,696. This trade represents a 4.33 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 76,981 shares of company stock valued at $27,660,117. Corporate insiders own 0.53% of the company’s stock.

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.