Securian Asset Management Inc lifted its stake in Eaton Co. PLC (NYSE:ETN) by 1.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,281 shares of the industrial products company’s stock after purchasing an additional 525 shares during the quarter. Securian Asset Management Inc’s holdings in Eaton were worth $3,040,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently bought and sold shares of the company. Hartford Investment Management Co. raised its position in shares of Eaton by 4.2% in the 4th quarter. Hartford Investment Management Co. now owns 58,752 shares of the industrial products company’s stock worth $4,034,000 after purchasing an additional 2,389 shares during the last quarter. Country Trust Bank raised its position in shares of Eaton by 67.4% in the 4th quarter. Country Trust Bank now owns 832 shares of the industrial products company’s stock worth $57,000 after purchasing an additional 335 shares during the last quarter. Alerus Financial NA raised its position in shares of Eaton by 3.4% in the 4th quarter. Alerus Financial NA now owns 34,627 shares of the industrial products company’s stock worth $2,378,000 after purchasing an additional 1,124 shares during the last quarter. Icon Advisers Inc. Co. purchased a new position in shares of Eaton in the 4th quarter worth about $412,000. Finally, Providence Capital Advisors LLC raised its position in shares of Eaton by 43.2% in the 4th quarter. Providence Capital Advisors LLC now owns 31,841 shares of the industrial products company’s stock worth $2,186,000 after purchasing an additional 9,612 shares during the last quarter. 77.02% of the stock is owned by hedge funds and other institutional investors.
In related news, insider Joao V. Faria sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, February 4th. The stock was sold at an average price of $76.73, for a total transaction of $383,650.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.50% of the company’s stock.
Shares of NYSE:ETN opened at $75.83 on Friday. The company has a market cap of $33.09 billion, a P/E ratio of 14.07, a P/E/G ratio of 1.41 and a beta of 1.45. The company has a quick ratio of 0.93, a current ratio of 1.47 and a debt-to-equity ratio of 0.42. Eaton Co. PLC has a 12-month low of $64.46 and a 12-month high of $89.46.
Eaton (NYSE:ETN) last announced its quarterly earnings data on Thursday, January 31st. The industrial products company reported $1.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.43 by $0.03. The company had revenue of $5.46 billion during the quarter, compared to the consensus estimate of $5.42 billion. Eaton had a return on equity of 14.06% and a net margin of 9.93%. On average, sell-side analysts expect that Eaton Co. PLC will post 5.87 earnings per share for the current year.
A number of equities analysts have weighed in on ETN shares. UBS Group set a $97.00 target price on Eaton and gave the stock a “buy” rating in a research report on Wednesday, October 31st. Zacks Investment Research lowered Eaton from a “hold” rating to a “sell” rating in a research report on Tuesday, January 29th. Wolfe Research lowered Eaton from an “outperform” rating to a “market perform” rating in a research report on Tuesday, January 8th. Morgan Stanley set a $82.00 target price on Eaton and gave the stock a “hold” rating in a research report on Saturday, February 2nd. Finally, Robert W. Baird set a $88.00 target price on Eaton and gave the stock a “buy” rating in a research report on Friday, January 25th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $86.00.
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Eaton Company Profile
Eaton Corporation plc operates as a power management company worldwide. Its Electrical Products segment offers electrical and industrial components, residential products, single phase power quality products, emergency lighting and fire detection products, wiring devices, structural support systems, and circuit protection and lighting products.
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