Cornerstone Wealth Group LLC trimmed its position in Eaton Co. plc (NYSE:ETN – Free Report) by 34.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,176 shares of the industrial products company’s stock after selling 5,319 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Eaton were worth $3,377,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Eaton by 253.2% in 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 in the last quarter. International Assets Investment Management LLC raised its stake in Eaton by 27,075.5% during the 3rd quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company’s stock valued at $355,959,000 after purchasing an additional 1,070,024 shares during the period. Janus Henderson Group PLC lifted its holdings in Eaton by 32.8% in 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 purchasing an additional 597,700 shares in the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in Eaton in the 3rd quarter worth approximately $137,794,000. Finally, Assenagon Asset Management S.A. raised its position in shares of Eaton by 3,508.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 401,728 shares of the industrial products company’s stock valued at $133,321,000 after buying an additional 390,595 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.
Insider Buying and Selling at Eaton
In related news, Director Gregory R. Page sold 4,000 shares of Eaton stock in a transaction dated 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 in the company, valued at $17,241,796.60. The trade was a 7.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Craig Arnold sold 61,569 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the transaction, the insider now owns 506,360 shares in the company, valued at approximately $182,780,769.20. The trade was a 10.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 76,981 shares of company stock valued at $27,660,117 in the last three months. Company insiders own 0.53% of the company’s stock.
Wall Street Analysts Forecast Growth
Eaton Price Performance
Shares of ETN stock opened at $368.63 on Monday. The stock has a 50 day moving average price of $353.96 and a 200 day moving average price of $331.44. Eaton Co. plc has a 52-week low of $241.87 and a 52-week high of $379.99. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53. The firm has a market capitalization of $145.68 billion, a P/E ratio of 39.22, a P/E/G ratio of 2.57 and a beta of 1.06.
Eaton (NYSE:ETN – Get Free Report) last released its earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.80 by $0.04. The business had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period last year, the company earned $2.47 earnings per share. As a group, sell-side analysts predict that Eaton Co. plc will post 10.79 earnings per share 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.
See Also
- Five stocks we like better than Eaton
- Why Are Stock Sectors Important to Successful Investing?
- D-Wave: Recent Updates Propel Shares Off 2025 Lows
- Where to Find Earnings Call Transcripts
- Health-Tech Revival: 3 Stocks Set for a Big 2025 Rebound
- 5 Top Rated Dividend Stocks to Consider
- How the $500 Billion Stargate Investment Can Boost These Stocks
Want to see what other hedge funds are holding ETN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Eaton Co. plc (NYSE:ETN – Free Report).
Receive News & Ratings for Eaton Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eaton and related companies with MarketBeat.com's FREE daily email newsletter.