Gulf International Bank UK Ltd Sells 1,248 Shares of Eaton Co. plc (NYSE:ETN)

Gulf International Bank UK Ltd lessened its holdings in Eaton Co. plc (NYSE:ETN) by 4.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 30,005 shares of the industrial products company’s stock after selling 1,248 shares during the period. Gulf International Bank UK Ltd’s holdings in Eaton were worth $9,957,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Horizon Bancorp Inc. IN grew 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 during the last quarter. Morse Asset Management Inc bought a new position in Eaton in the 3rd quarter valued at $33,000. Activest Wealth Management grew 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 during the last quarter. Hager Investment Management Services LLC bought a new position in Eaton in the 4th quarter valued at $38,000. Finally, Sierra Ocean LLC bought a new position in Eaton in the 4th quarter valued at $39,000. Institutional investors own 82.97% of the company’s stock.

Eaton Price Performance

Shares of NYSE ETN opened at $297.28 on Thursday. 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 company has a market cap of $117.48 billion, a PE ratio of 31.29, a P/E/G ratio of 2.64 and a beta of 1.05. The business has a 50-day simple moving average of $328.71 and a two-hundred day simple moving average of $332.55. Eaton Co. plc has a fifty-two week low of $255.65 and a fifty-two week high of $379.99.

Eaton (NYSE:ETN) last issued 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 return on equity of 22.62% and a net margin of 15.25%. During the same period in the prior year, the firm earned $2.55 earnings per share. As a group, equities analysts expect that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Gregory R. Page sold 10,000 shares of Eaton 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 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Melius Research reissued a “hold” rating and set a $373.00 price target on shares of Eaton in a research report on Tuesday, January 28th. Sanford C. Bernstein assumed coverage on Eaton in a research report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 price target on the stock. Bank of America increased their price target on Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Citigroup dropped their price target on Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Finally, Mizuho increased their price target on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $366.05.

Eaton 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.