Sharp Financial Services LLC Has $255,000 Position in Eaton Co. plc (NYSE:ETN)

Sharp Financial Services LLC lowered its stake in Eaton Co. plc (NYSE:ETN) by 3.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 768 shares of the industrial products company’s stock after selling 29 shares during the period. Sharp Financial Services LLC’s holdings in Eaton were worth $255,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Geode Capital Management LLC increased its holdings in shares of Eaton by 0.7% in the third quarter. Geode Capital Management LLC now owns 8,069,341 shares of the industrial products company’s stock valued at $2,665,342,000 after purchasing an additional 56,516 shares in the last quarter. Legal & General Group Plc boosted its stake in Eaton by 0.6% in the second quarter. Legal & General Group Plc now owns 3,206,251 shares of the industrial products company’s stock valued at $1,005,317,000 after acquiring an additional 18,077 shares during the last quarter. Franklin Resources Inc. boosted its stake in Eaton by 15.1% in the third quarter. Franklin Resources Inc. now owns 2,421,626 shares of the industrial products company’s stock valued at $836,938,000 after acquiring an additional 316,830 shares during the last quarter. Janus Henderson Group PLC boosted its stake in Eaton by 32.8% in the third 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 during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in 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 valued at $753,590,000 after acquiring an additional 1,629,856 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Transactions at Eaton

In related news, insider Craig Arnold sold 61,569 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total value of $22,224,561.93. Following the transaction, the insider now owns 506,360 shares in the company, valued at approximately $182,780,769.20. This represents a 10.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 completion of the transaction, the insider now 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. Insiders have sold 76,981 shares of company stock worth $27,660,117 in the last ninety days. Insiders own 0.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Wells Fargo & Company reduced their price objective on shares of Eaton from $365.00 to $350.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. Sanford C. Bernstein began coverage on shares of Eaton in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price objective on the stock. Jefferies Financial Group lifted 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. Mizuho lifted their price target on shares of Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. reduced their price target on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Eaton has a consensus rating of “Moderate Buy” and an average target price of $368.89.

Eaton Stock Up 3.8 %

Shares of ETN stock opened at $371.36 on Thursday. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. Eaton Co. plc has a 1 year low of $239.17 and a 1 year high of $379.99. The firm’s fifty day moving average price is $353.58 and its two-hundred day moving average price is $330.45. The firm has a market capitalization of $146.76 billion, a P/E ratio of 39.51, a PEG ratio of 2.48 and a beta of 1.06.

Eaton (NYSE:ETN) last issued its quarterly earnings results 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. The firm had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The company’s revenue was up 7.9% compared to the same quarter last year. During the same period in the previous year, the business earned $2.47 EPS. On average, equities analysts predict 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.