Eaton Co. plc (NYSE:ETN) Holdings Raised by Sycomore Asset Management

Sycomore Asset Management boosted its stake in Eaton Co. plc (NYSE:ETN) by 14.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 44,428 shares of the industrial products company’s stock after buying an additional 5,650 shares during the period. Eaton accounts for 1.9% of Sycomore Asset Management’s portfolio, making the stock its 14th biggest holding. Sycomore Asset Management’s holdings in Eaton were worth $14,795,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in ETN. Horizon Bancorp Inc. IN raised its holdings in shares of 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 bought a new position in shares of Eaton in the third quarter valued at $33,000. Activest Wealth Management lifted its position in shares of Eaton by 621.4% during the 4th quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 87 shares during the last quarter. DT Investment Partners LLC acquired a new position in shares of Eaton in the 3rd quarter worth $37,000. Finally, Hager Investment Management Services LLC acquired a new stake in shares of Eaton during the fourth quarter worth $38,000. 82.97% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Gregory R. Page sold 10,000 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 43,203 shares in the company, valued at $15,379,403.94. This represents a 18.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the stock in a transaction 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 sale, the insider now owns 31,200 shares in the company, valued at $11,811,696. The trade was a 4.33 % decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is owned by company insiders.

Eaton Price Performance

Shares of Eaton stock opened at $313.11 on Monday. The firm has a fifty day moving average price of $343.25 and a two-hundred day moving average price of $331.07. Eaton Co. plc has a fifty-two week low of $255.65 and a fifty-two week high of $379.99. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. The company has a market cap of $123.74 billion, a PE ratio of 32.96, a price-to-earnings-growth ratio of 2.37 and a beta of 1.05.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, beating the consensus estimate 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 period in the previous year, the business posted $2.55 earnings per share. Analysts expect that Eaton Co. plc will post 12.04 EPS for the current year.

Analysts Set New Price Targets

ETN has been the topic of several recent analyst reports. Citigroup cut their price objective on Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Sanford C. Bernstein started coverage on shares of Eaton in a report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 price target on the stock. Wells Fargo & Company decreased their price objective on shares of Eaton from $350.00 to $335.00 and set an “equal weight” rating for the company in a research note on Monday, February 3rd. 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 on the stock. Finally, Royal Bank of Canada decreased their target price on Eaton from $407.00 to $405.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.