Rheos Capital Works Inc. Sells 21,000 Shares of Eaton Co. plc (NYSE:ETN)

Rheos Capital Works Inc. lessened its holdings in shares of Eaton Co. plc (NYSE:ETN) by 42.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 29,000 shares of the industrial products company’s stock after selling 21,000 shares during the period. Rheos Capital Works Inc.’s holdings in Eaton were worth $9,624,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of the stock. Groupama Asset Managment raised its holdings in Eaton by 83.2% during the 3rd quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 4,298 shares during the last quarter. Horizon Bancorp Inc. IN raised its stake in Eaton by 321.7% during the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock worth $32,000 after buying an additional 74 shares during the last quarter. Morse Asset Management Inc acquired a new position in Eaton in the third quarter valued at $33,000. West Financial Advisors LLC bought a new stake in Eaton during the third quarter valued at $35,000. Finally, DT Investment Partners LLC acquired a new stake in Eaton during the 3rd quarter worth about $37,000. 82.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Bank of America upped their target price on Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Citigroup reduced their price objective on shares of Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a research report on Monday, January 13th. UBS Group began coverage on shares of Eaton in a research report on Wednesday, November 13th. They set a “buy” rating and a $431.00 target price on the stock. Melius downgraded shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 price target for the company. in a research note on Tuesday, January 28th. Finally, Wells Fargo & Company cut their price objective on shares of Eaton from $365.00 to $350.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $369.30.

Insider Transactions at Eaton

In other news, Director Gregory R. Page sold 10,000 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were 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 represents a 18.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $378.58, for a total value of $534,554.96. Following the completion of the sale, the insider now owns 31,200 shares in the company, valued at approximately $11,811,696. The trade was a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 72,981 shares of company stock worth $26,318,917 in the last ninety days. Company insiders own 0.33% of the company’s stock.

Eaton Stock Performance

Shares of ETN stock opened at $326.32 on Monday. Eaton Co. plc has a one year low of $245.65 and a one 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 firm has a 50-day moving average of $349.23 and a 200-day moving average of $331.21. The company has a market cap of $128.96 billion, a P/E ratio of 34.35, a P/E/G ratio of 2.27 and a beta of 1.05.

Eaton (NYSE:ETN) last released its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, beating 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 last year, the firm earned $2.55 earnings per share. Equities research analysts forecast that Eaton Co. plc will post 12 EPS 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.