QRG Capital Management Inc. Acquires 4,358 Shares of Eaton Co. plc (NYSE:ETN)

QRG Capital Management Inc. lifted its holdings in Eaton Co. plc (NYSE:ETN) by 3.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 121,150 shares of the industrial products company’s stock after purchasing an additional 4,358 shares during the period. QRG Capital Management Inc.’s holdings in Eaton were worth $40,206,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Geode Capital Management LLC increased its stake in Eaton by 0.7% during the third quarter. Geode Capital Management LLC now owns 8,069,341 shares of the industrial products company’s stock valued at $2,665,342,000 after acquiring an additional 56,516 shares during the period. Franklin Resources Inc. increased its stake in Eaton by 15.1% during the third quarter. Franklin Resources Inc. now owns 2,421,626 shares of the industrial products company’s stock valued at $836,938,000 after acquiring an additional 316,830 shares during the period. Janus Henderson Group PLC increased its stake in 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 acquiring an additional 597,700 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Eaton by 253.2% during 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 valued at $753,590,000 after acquiring an additional 1,629,856 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. increased its stake in Eaton by 1.0% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,436,051 shares of the industrial products company’s stock valued at $476,582,000 after acquiring an additional 13,862 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Insider Activity at Eaton

In other Eaton news, Director Gregory R. Page sold 10,000 shares of the company’s stock in a transaction that occurred on 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 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 SEC, which is available through this link. 0.33% of the stock is owned by insiders.

Eaton Price Performance

Shares of 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 stock has a 50 day simple moving average of $328.71 and a 200 day simple moving average of $332.55. Eaton Co. plc has a 52-week low of $255.65 and a 52-week high of $379.99. The firm has a market capitalization of $117.48 billion, a PE ratio of 31.29, a P/E/G ratio of 2.64 and a beta of 1.05.

Eaton (NYSE:ETN) last issued its quarterly earnings data 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 posted $2.55 earnings per share. Sell-side analysts predict that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on ETN shares. Jefferies Financial Group upped their price objective on Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Barclays boosted their target price on Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Evercore ISI reduced their price objective on Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a report on Wednesday, February 19th. Bank of America upped their price objective on Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, 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 target on the stock. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price 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.