Vest Financial LLC Acquires New Holdings in Eaton Co. plc (NYSE:ETN)

Vest Financial LLC purchased a new stake in shares of Eaton Co. plc (NYSE:ETN) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 3,435 shares of the industrial products company’s stock, valued at approximately $1,140,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Geode Capital Management LLC grew its position in Eaton by 0.7% in the 3rd 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 in the last quarter. Franklin Resources Inc. grew its holdings 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 valued at $836,938,000 after purchasing an additional 316,830 shares in the last quarter. Janus Henderson Group PLC increased its stake in Eaton by 32.8% during the 3rd quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company’s stock worth $801,798,000 after buying an additional 597,700 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Eaton by 253.2% during the 3rd 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 buying an additional 1,629,856 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its position in Eaton by 1.0% in the 4th 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 buying an additional 13,862 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

Eaton Trading Down 0.9 %

NYSE:ETN opened at $313.11 on Monday. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. Eaton Co. plc has a 52-week low of $255.65 and a 52-week high of $379.99. The stock’s 50 day moving average price is $343.25 and its 200 day moving average price is $331.07. The company has a market capitalization of $123.74 billion, a PE ratio of 32.96, a P/E/G ratio of 2.37 and a beta of 1.05.

Eaton (NYSE:ETN) last announced its earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, beating analysts’ consensus estimates of $2.82 by $0.01. Eaton had a net margin of 15.25% and a return on equity of 22.62%. During the same period in the previous year, the business posted $2.55 EPS. On average, research analysts anticipate that Eaton Co. plc will post 12.04 EPS for the current year.

Insider Activity

In other news, Director Gregory R. Page sold 10,000 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were 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 approximately $15,379,403.94. This trade represents a 18.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $378.58, for a total transaction of $534,554.96. Following the transaction, the insider now owns 31,200 shares in the company, valued at approximately $11,811,696. This trade represents a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.53% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Citigroup reduced their price objective on Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. JPMorgan Chase & Co. reduced their price target on Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. Bank of America boosted their price objective on Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Melius Research reiterated a “hold” rating and issued a $373.00 price target on shares of Eaton in a research note on Tuesday, January 28th. Finally, Melius downgraded shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 price objective on the stock. in a research report on Tuesday, January 28th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $369.20.

Eaton Company 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.