Burns Matteson Capital Management LLC Sells 132 Shares of Eaton Co. plc (NYSE:ETN)

Burns Matteson Capital Management LLC trimmed its stake in shares of Eaton Co. plc (NYSE:ETN) by 5.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,462 shares of the industrial products company’s stock after selling 132 shares during the period. Burns Matteson Capital Management LLC’s holdings in Eaton were worth $817,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Eaton by 253.2% in 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 purchasing an additional 1,629,856 shares during the period. International Assets Investment Management LLC raised its position in Eaton by 27,075.5% in 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 boosted its position 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 worth $801,798,000 after acquiring an additional 597,700 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in shares of Eaton during the 3rd quarter worth approximately $137,794,000. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Eaton by 3,508.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 401,728 shares of the industrial products company’s stock valued at $133,321,000 after purchasing an additional 390,595 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ETN has been the subject of several recent research reports. Bank of America increased their target price on shares of Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Wells Fargo & Company decreased their price objective on Eaton from $350.00 to $335.00 and set an “equal weight” rating for the company in a report on Monday, February 3rd. Melius cut 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. Citigroup cut their price objective on Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a report on Monday, January 13th. Finally, Mizuho boosted their target price on shares of Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $369.20.

Eaton Stock Performance

NYSE:ETN opened at $313.11 on Monday. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. The stock has a 50 day simple moving average of $343.25 and a 200 day simple moving average of $331.07. Eaton Co. plc has a 1-year low of $255.65 and a 1-year high of $379.99. The stock has a market cap of $123.74 billion, a P/E ratio of 32.96, a PEG ratio of 2.37 and a beta of 1.05.

Eaton (NYSE:ETN) last announced its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 earnings per share. Research analysts anticipate that Eaton Co. plc will post 12.04 earnings per share for the current year.

Insider Buying and Selling at Eaton

In other Eaton news, Director Gregory R. Page sold 10,000 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $355.98, for a total value of $3,559,800.00. Following 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the company’s stock in a transaction that occurred 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 sale, the insider now directly owns 31,200 shares of the company’s stock, 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 own 0.53% of the company’s stock.

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.