Eaton Co. plc (NYSE:ETN) Position Trimmed by Klingenstein Fields & Co. LP

Klingenstein Fields & Co. LP lessened its holdings in shares of Eaton Co. plc (NYSE:ETN) by 1.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,244 shares of the industrial products company’s stock after selling 1,530 shares during the quarter. Eaton makes up 1.3% of Klingenstein Fields & Co. LP’s investment portfolio, making the stock its 26th largest holding. Klingenstein Fields & Co. LP’s holdings in Eaton were worth $31,609,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of ETN. Creative Planning grew its stake in Eaton by 2.7% during the 3rd quarter. Creative Planning now owns 181,067 shares of the industrial products company’s stock valued at $60,013,000 after acquiring an additional 4,705 shares in the last quarter. Vontobel Holding Ltd. lifted its holdings in shares of Eaton by 52.6% during the 3rd quarter. Vontobel Holding Ltd. now owns 26,611 shares of the industrial products company’s stock valued at $8,820,000 after buying an additional 9,174 shares during the last quarter. B.O.S.S. Retirement Advisors LLC lifted its holdings in shares of Eaton by 18.4% during the 3rd quarter. B.O.S.S. Retirement Advisors LLC now owns 1,270 shares of the industrial products company’s stock valued at $421,000 after buying an additional 197 shares during the last quarter. SPC Financial Inc. lifted its holdings in shares of Eaton by 17.8% during the 3rd quarter. SPC Financial Inc. now owns 11,769 shares of the industrial products company’s stock valued at $3,901,000 after buying an additional 1,779 shares during the last quarter. Finally, Rheos Capital Works Inc. lifted its holdings in shares of Eaton by 233.3% during the 3rd quarter. Rheos Capital Works Inc. now owns 50,000 shares of the industrial products company’s stock valued at $16,572,000 after buying an additional 35,000 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Stock Performance

ETN opened at $307.70 on Friday. The stock has a market cap of $121.60 billion, a PE ratio of 32.39, a P/E/G ratio of 2.37 and a beta of 1.05. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. Eaton Co. plc has a 1 year low of $255.65 and a 1 year high of $379.99. The stock’s 50 day simple moving average is $339.72 and its 200-day simple moving average is $331.47.

Eaton (NYSE:ETN) last released its quarterly earnings data 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 quarter in the previous year, the firm earned $2.55 EPS. Sell-side analysts forecast that Eaton Co. plc will post 12.04 EPS for the current year.

Insider Buying and Selling at Eaton

In other news, Director Gregory R. Page sold 10,000 shares of the company’s stock in a transaction 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 transaction, the director now owns 43,203 shares of the company’s stock, valued at $15,379,403.94. This represents a 18.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the company’s stock in a transaction on Monday, November 25th. The shares were 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 $11,811,696. This trade represents a 4.33 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Jefferies Financial Group lifted their price target on Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a report on Friday, December 6th. Citigroup reduced their price target on Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a report on Monday, January 13th. Bank of America lifted 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. Royal Bank of Canada reduced their target price on Eaton from $407.00 to $405.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. Finally, Melius lowered Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price for the company. in a report on Tuesday, January 28th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Eaton presently has a consensus rating of “Moderate Buy” and an average price target of $369.20.

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.