Lipe & Dalton Cuts Holdings in Eaton Co. plc (NYSE:ETN)

Lipe & Dalton lessened its stake in Eaton Co. plc (NYSE:ETN) by 3.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,152 shares of the industrial products company’s stock after selling 450 shares during the period. Eaton makes up about 2.0% of Lipe & Dalton’s holdings, making the stock its 15th biggest holding. Lipe & Dalton’s holdings in Eaton were worth $3,701,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Eaton by 253.2% during the 3rd 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 buying an additional 1,629,856 shares during the last quarter. International Assets Investment Management LLC raised its holdings in Eaton by 27,075.5% during the 3rd quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company’s stock valued at $355,959,000 after buying an additional 1,070,024 shares during the last quarter. Janus Henderson Group PLC raised its holdings in Eaton by 32.8% during the 3rd quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company’s stock valued at $801,798,000 after buying an additional 597,700 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in Eaton during the 3rd quarter valued at $137,794,000. Finally, Assenagon Asset Management S.A. raised its holdings in Eaton by 3,508.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 401,728 shares of the industrial products company’s stock valued at $133,321,000 after buying an additional 390,595 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling at Eaton

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

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Mizuho lifted their price target on shares of Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Evercore ISI lowered their price target on shares of Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a research report on Wednesday. Melius cut shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 price target for the company. in a research report on Tuesday, January 28th. Finally, Sanford C. Bernstein assumed coverage on shares of Eaton in a research note on Tuesday, November 5th. They set an “outperform” rating and a $382.00 price objective for the company. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $366.05.

Eaton Trading Down 3.8 %

Shares of ETN opened at $297.11 on Friday. The company’s fifty day moving average is $331.97 and its 200 day moving average is $332.05. Eaton Co. plc has a fifty-two week low of $255.65 and a fifty-two week high of $379.99. The stock has a market capitalization of $117.42 billion, a PE ratio of 31.27, a P/E/G ratio of 2.65 and a beta of 1.05. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, topping the consensus estimate of $2.82 by $0.01. Eaton had a net margin of 15.25% and a return on equity of 22.62%. During the same period in the previous year, the firm earned $2.55 EPS. Sell-side analysts expect that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

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.