Swedbank AB Has $193.27 Million Stock Holdings in Eaton Co. plc (NYSE:ETN)

Swedbank AB reduced its stake in Eaton Co. plc (NYSE:ETN) by 13.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 582,354 shares of the industrial products company’s stock after selling 92,148 shares during the period. Swedbank AB’s holdings in Eaton were worth $193,266,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Groupama Asset Managment grew its holdings in Eaton by 83.2% in the 3rd quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock valued at $31,000 after buying an additional 4,298 shares in the last quarter. Horizon Bancorp Inc. IN grew its stake in shares of Eaton by 321.7% in the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 74 shares in the last quarter. Morse Asset Management Inc bought a new position in Eaton during the third quarter worth about $33,000. West Financial Advisors LLC acquired a new stake in Eaton in the 3rd quarter worth about $35,000. Finally, DT Investment Partners LLC bought a new stake in Eaton in the 3rd quarter valued at about $37,000. 82.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ETN has been the subject of a number of analyst reports. Jefferies Financial Group lifted their price target on shares of Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. cut their target price on Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research report on Wednesday, January 15th. Melius cut Eaton from a “buy” rating to a “hold” rating and set a $373.00 price target on the stock. in a research report on Tuesday. Royal Bank of Canada upped their price objective on shares of Eaton from $374.00 to $392.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Finally, Wells Fargo & Company decreased their target price on shares of Eaton from $365.00 to $350.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $369.30.

Insider Transactions at Eaton

In other news, Director Gregory R. Page sold 4,000 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $335.30, for a total value of $1,341,200.00. Following the completion of the sale, the director now directly owns 51,422 shares of the company’s stock, valued at $17,241,796.60. This represents a 7.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Craig Arnold sold 61,569 shares of Eaton stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total value of $22,224,561.93. Following the transaction, the insider now directly owns 506,360 shares in the company, valued at approximately $182,780,769.20. The trade was a 10.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 76,981 shares of company stock valued at $27,660,117 over the last ninety days. 0.53% of the stock is owned by company insiders.

Eaton Trading Up 1.1 %

Shares of ETN stock traded up $3.29 during trading hours on Wednesday, hitting $315.96. 618,104 shares of the company were exchanged, compared to its average volume of 3,211,535. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53. Eaton Co. plc has a fifty-two week low of $245.65 and a fifty-two week high of $379.99. The company has a 50 day simple moving average of $351.98 and a two-hundred day simple moving average of $331.21. The firm has a market cap of $124.87 billion, a P/E ratio of 33.71, a P/E/G ratio of 2.57 and a beta of 1.06.

Eaton (NYSE:ETN) last issued its earnings results on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, beating the consensus estimate of $2.80 by $0.04. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The company had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.37 billion. During the same period last year, the business posted $2.47 EPS. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. Equities analysts anticipate that Eaton Co. plc will post 10.79 EPS for the current 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.