Yousif Capital Management LLC Sells 2,204 Shares of Eaton Co. plc (NYSE:ETN)

Yousif Capital Management LLC reduced its position in Eaton Co. plc (NYSE:ETN) by 4.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 47,144 shares of the industrial products company’s stock after selling 2,204 shares during the period. Yousif Capital Management LLC’s holdings in Eaton were worth $15,646,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of ETN. Geode Capital Management LLC boosted its stake in Eaton by 0.7% in the third quarter. Geode Capital Management LLC now owns 8,069,341 shares of the industrial products company’s stock worth $2,665,342,000 after buying an additional 56,516 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Eaton by 15.1% in the third quarter. Franklin Resources Inc. now owns 2,421,626 shares of the industrial products company’s stock worth $836,938,000 after acquiring an additional 316,830 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of Eaton by 32.8% during the third 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Eaton by 253.2% in the third 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 worth $753,590,000 after purchasing an additional 1,629,856 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Eaton by 2.9% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,422,189 shares of the industrial products company’s stock worth $471,370,000 after buying an additional 40,078 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ETN has been the subject of a number of recent research reports. Citigroup dropped their target price on Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a report on Monday, January 13th. UBS Group began coverage on Eaton in a research note on Wednesday, November 13th. They issued a “buy” rating and a $431.00 target price on the stock. Evercore ISI downgraded Eaton from an “outperform” rating to an “inline” rating and increased their price target for the stock from $333.00 to $389.00 in a research report on Wednesday, November 13th. Wells Fargo & Company reduced their target price on Eaton from $350.00 to $335.00 and set an “equal weight” rating for the company in a report on Monday. Finally, Jefferies Financial Group increased their price objective on Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $369.20.

Insider Buying and Selling

In related news, Director Gregory R. Page sold 10,000 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $355.98, for a total value of $3,559,800.00. Following the completion of the sale, the director now directly owns 43,203 shares in the company, valued at approximately $15,379,403.94. This represents a 18.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the 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 of the company’s stock, valued at approximately $11,811,696. This represents a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

Eaton Price Performance

Shares of NYSE:ETN opened at $315.21 on Wednesday. Eaton Co. plc has a one year low of $255.65 and a one year high of $379.99. The stock has a market cap of $124.57 billion, a PE ratio of 33.18, a price-to-earnings-growth ratio of 2.27 and a beta of 1.05. The business’s fifty day moving average price is $348.01 and its two-hundred day moving average price is $331.26. 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 issued its 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 last year, the company posted $2.55 EPS. On average, analysts forecast that Eaton Co. plc will post 12 EPS for the current fiscal year.

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.