Eaton Co. plc (NYSE:ETN) Shares Sold by Field & Main Bank

Field & Main Bank lowered its stake in shares of Eaton Co. plc (NYSE:ETN) by 1.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 9,215 shares of the industrial products company’s stock after selling 142 shares during the quarter. Eaton accounts for approximately 1.1% of Field & Main Bank’s portfolio, making the stock its 29th biggest position. Field & Main Bank’s holdings in Eaton were worth $3,058,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Groupama Asset Managment increased its holdings in shares of Eaton by 83.2% in the 3rd quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 4,298 shares during the last quarter. Horizon Bancorp Inc. IN increased its stake in Eaton by 321.7% during the fourth 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 during the last quarter. Morse Asset Management Inc bought a new position in shares of Eaton in the 3rd quarter worth about $33,000. West Financial Advisors LLC acquired a new position in shares of Eaton in the 3rd quarter valued at about $35,000. Finally, DT Investment Partners LLC bought a new stake in shares of Eaton during the 3rd quarter valued at about $37,000. Institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ETN. Royal Bank of Canada lifted their target price on Eaton from $374.00 to $392.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Bank of America upped their price objective on Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. JPMorgan Chase & Co. cut their target price on Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. Jefferies Financial Group upped their price target on shares of Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Finally, UBS Group started coverage on shares of Eaton in a research note on Wednesday, November 13th. They set a “buy” rating and a $431.00 target price for the company. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $369.30.

Eaton Trading Up 0.2 %

Shares of Eaton stock opened at $313.43 on Wednesday. The business has a fifty day simple moving average of $351.98 and a 200-day simple moving average of $331.21. The firm has a market cap of $123.87 billion, a price-to-earnings ratio of 33.28, a price-to-earnings-growth ratio of 2.57 and a beta of 1.06. Eaton Co. plc has a fifty-two week low of $245.65 and a fifty-two week high of $379.99. 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 posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.80 by $0.04. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The company had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.37 billion. During the same quarter last year, the firm posted $2.47 EPS. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. On average, equities analysts forecast that Eaton Co. plc will post 10.79 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Craig Arnold sold 61,569 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total value of $22,224,561.93. Following the completion of the transaction, the insider now owns 506,360 shares in the company, valued at $182,780,769.20. This trade represents a 10.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Gregory R. Page sold 10,000 shares of the business’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 owns 43,203 shares in the company, valued at approximately $15,379,403.94. The trade was a 18.80 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 76,981 shares of company stock worth $27,660,117. 0.53% of the stock is owned by insiders.

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.