Core Alternative Capital Has $1.87 Million Stake in Eaton Co. plc (NYSE:ETN)

Core Alternative Capital trimmed its holdings in Eaton Co. plc (NYSE:ETN) by 10.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,633 shares of the industrial products company’s stock after selling 652 shares during the period. Core Alternative Capital’s holdings in Eaton were worth $1,869,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ETN. Geode Capital Management LLC lifted 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. Franklin Resources Inc. lifted its holdings in shares of 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 purchasing an additional 316,830 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of 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 purchasing an additional 597,700 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings 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 valued at $753,590,000 after purchasing an additional 1,629,856 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Eaton by 1.0% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,436,051 shares of the industrial products company’s stock valued at $476,582,000 after purchasing an additional 13,862 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Eaton Trading Up 2.2 %

Shares of NYSE:ETN opened at $319.97 on Tuesday. The company has a market capitalization of $126.45 billion, a P/E ratio of 33.68, a P/E/G ratio of 2.37 and a beta of 1.05. Eaton Co. plc has a 1 year low of $255.65 and a 1 year 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 business’s 50 day simple moving average is $343.25 and its 200 day simple moving average is $331.29.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, topping 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 prior year, the company earned $2.55 EPS. On average, research analysts anticipate that Eaton Co. plc will post 12.04 EPS for the current fiscal year.

Insider Buying and Selling

In other Eaton news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $378.58, for a total transaction of $534,554.96. Following the completion of the sale, the insider now directly owns 31,200 shares in the company, valued at $11,811,696. This represents a 4.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $3,559,800.00. Following the sale, the director now owns 43,203 shares of the company’s stock, valued at $15,379,403.94. The trade was a 18.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts recently issued reports on ETN shares. Jefferies Financial Group upped their target price on Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Royal Bank of Canada dropped their target price on Eaton from $407.00 to $405.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Sanford C. Bernstein started coverage on Eaton in a report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 target price on the stock. Citigroup dropped their target price on Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Finally, Bank of America upped their price objective on Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Eaton presently has an average rating of “Moderate Buy” and a consensus price target of $369.20.

Eaton Company 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.