D.B. Root & Company LLC Trims Holdings in Eaton Co. plc (NYSE:ETN)

D.B. Root & Company LLC lowered its holdings in Eaton Co. plc (NYSE:ETN) by 2.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 4,160 shares of the industrial products company’s stock after selling 86 shares during the quarter. D.B. Root & Company LLC’s holdings in Eaton were worth $1,381,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Eaton by 253.2% in the third 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 worth $753,590,000 after buying an additional 1,629,856 shares in the last quarter. International Assets Investment Management LLC lifted its position in Eaton by 27,075.5% in the 3rd quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company’s stock valued at $355,959,000 after acquiring an additional 1,070,024 shares in the last quarter. Janus Henderson Group PLC lifted its position in Eaton by 32.8% in the 3rd quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company’s stock valued at $801,798,000 after acquiring an additional 597,700 shares in the last quarter. Electron Capital Partners LLC increased its holdings in shares of Eaton by 8,348.9% in the 2nd quarter. Electron Capital Partners LLC now owns 446,524 shares of the industrial products company’s stock worth $140,008,000 after purchasing an additional 441,239 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. purchased a new position in shares of Eaton in the third quarter worth $137,794,000. 82.97% of the stock is currently owned by institutional investors.

Insider Activity at Eaton

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 shares were sold at an average price of $378.58, for a total transaction of $534,554.96. Following the sale, the insider now directly owns 31,200 shares in the company, valued at approximately $11,811,696. This represents a 4.33 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gregory R. Page sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $335.30, for a total value of $1,341,200.00. Following 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 76,981 shares of company stock valued at $27,660,117. Insiders own 0.53% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Wells Fargo & Company dropped their price objective on Eaton from $365.00 to $350.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. JPMorgan Chase & Co. dropped their price target on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Evercore ISI downgraded shares of Eaton from an “outperform” rating to an “inline” rating and increased their price objective for the company from $333.00 to $389.00 in a research report on Wednesday, November 13th. Citigroup cut their target price on shares of Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Finally, Bank of America increased their price target on Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Four equities research 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 an average rating of “Moderate Buy” and an average price target of $368.89.

Eaton Price Performance

NYSE:ETN opened at $371.36 on Thursday. The business’s 50-day simple moving average is $353.61 and its two-hundred day simple moving average is $330.74. Eaton Co. plc has a 52 week low of $239.17 and a 52 week high of $379.99. The stock has a market cap of $146.76 billion, a PE ratio of 39.51, a P/E/G ratio of 2.48 and a beta of 1.06. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45.

Eaton (NYSE:ETN) last issued its earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The firm had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.37 billion. During the same quarter in the prior year, the business earned $2.47 earnings per share. Eaton’s revenue for the quarter was up 7.9% on a year-over-year basis. As a group, analysts forecast that Eaton Co. plc will post 10.79 EPS for the current fiscal year.

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.