Eaton Co. plc (NYSE:ETN) Stock Holdings Trimmed by Hendley & Co. Inc.

Hendley & Co. Inc. lessened its position in shares of Eaton Co. plc (NYSE:ETN) by 0.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,418 shares of the industrial products company’s stock after selling 142 shares during the period. Eaton comprises 1.8% of Hendley & Co. Inc.’s portfolio, making the stock its 18th largest position. Hendley & Co. Inc.’s holdings in Eaton were worth $5,117,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in ETN. Groupama Asset Managment lifted its stake in Eaton by 83.2% during the third 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 lifted its position in shares of Eaton by 321.7% in the 4th 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 shares of Eaton in the 3rd quarter valued at about $33,000. Activest Wealth Management grew its position in shares of Eaton by 621.4% during the 4th quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock valued at $34,000 after buying an additional 87 shares during the last quarter. Finally, Hager Investment Management Services LLC acquired a new stake in Eaton during the fourth quarter worth about $38,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Trading Down 2.6 %

Shares of NYSE:ETN opened at $289.68 on Tuesday. The stock has a market capitalization of $114.48 billion, a price-to-earnings ratio of 30.49, a PEG ratio of 2.64 and a beta of 1.05. Eaton Co. plc has a 1-year low of $255.65 and a 1-year high of $379.99. The company has a 50 day moving average price of $330.66 and a 200 day moving average price of $332.83. 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 released its quarterly earnings data 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 quarter last year, the firm posted $2.55 earnings per share. On average, research analysts anticipate that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Insider Buying and Selling

In other 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 owns 43,203 shares in the company, valued at $15,379,403.94. This represents a 18.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.53% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

ETN has been the subject of a number of analyst reports. Melius lowered Eaton from a “buy” rating to a “hold” rating and set a $373.00 price objective for the company. in a research report on Tuesday, January 28th. Citigroup lowered their price target 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. Sanford C. Bernstein assumed coverage on shares of Eaton in a research report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price objective on the stock. Barclays upped their target price on shares of Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Finally, Melius Research reiterated a “hold” rating and set a $373.00 price objective on shares of Eaton in a research report on Tuesday, January 28th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $366.05.

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.