Impax Asset Management Group plc Cuts Stock Position in Eaton Co. plc (NYSE:ETN)

Impax Asset Management Group plc cut its holdings in Eaton Co. plc (NYSE:ETN) by 9.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,407 shares of the industrial products company’s stock after selling 675 shares during the quarter. Impax Asset Management Group plc’s holdings in Eaton were worth $2,126,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Horizon Bancorp Inc. IN lifted its position in Eaton by 321.7% in the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 74 shares in the last quarter. Morse Asset Management Inc bought a new position in Eaton in the 3rd quarter valued at approximately $33,000. Activest Wealth Management lifted its position in Eaton by 621.4% in 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 in the last quarter. Hager Investment Management Services LLC bought a new position in Eaton in the 4th quarter valued at approximately $38,000. Finally, Sierra Ocean LLC bought a new position in Eaton in the 4th quarter valued at approximately $39,000. 82.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on ETN. Sanford C. Bernstein began coverage on Eaton in a research report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price objective on the stock. Mizuho increased their price target on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Wells Fargo & Company reissued an “equal weight” rating on shares of Eaton in a report on Thursday, February 13th. Citigroup lowered their price target on Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Finally, Melius cut Eaton from a “buy” rating to a “hold” rating and set a $373.00 price target on the stock. in a report on Tuesday, January 28th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $366.05.

Eaton Trading Down 0.9 %

Shares of ETN stock opened at $287.12 on Wednesday. Eaton Co. plc has a 52-week low of $255.65 and a 52-week high of $379.99. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. The firm has a market capitalization of $113.47 billion, a PE ratio of 30.22, a PEG ratio of 2.64 and a beta of 1.05. The stock has a fifty day simple moving average of $329.47 and a two-hundred day simple moving average of $332.80.

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 period last year, the firm posted $2.55 earnings per share. On average, analysts predict that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Gregory R. Page sold 10,000 shares of the firm’s stock in a transaction dated 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 owns 43,203 shares in the company, valued at $15,379,403.94. This trade represents a 18.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.33% of the stock is currently owned by company insiders.

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.