Signet Investment Advisory Group Inc. Sells 117 Shares of Eaton Co. plc (NYSE:ETN)

Signet Investment Advisory Group Inc. lessened its holdings in shares of Eaton Co. plc (NYSE:ETN) by 2.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,325 shares of the industrial products company’s stock after selling 117 shares during the quarter. Signet Investment Advisory Group Inc.’s holdings in Eaton were worth $1,767,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its position in shares of 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 buying an additional 56,516 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of Eaton by 15.1% during the third quarter. Franklin Resources Inc. now owns 2,421,626 shares of the industrial products company’s stock worth $836,938,000 after acquiring an additional 316,830 shares during the last quarter. Janus Henderson Group PLC grew 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Eaton by 253.2% in 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 valued at $753,590,000 after acquiring an additional 1,629,856 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake 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 worth $476,582,000 after purchasing an additional 13,862 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Eaton

In related news, Director Gregory R. Page sold 10,000 shares of Eaton stock in a transaction dated Friday, December 13th. The stock was 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 directly owns 43,203 shares in the company, valued at $15,379,403.94. The trade was a 18.80 % 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 Ernest W. Marshall, Jr. sold 1,412 shares of the 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. The trade was a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on ETN shares. Evercore ISI lowered Eaton from an “outperform” rating to an “inline” rating and raised their price objective for the company from $333.00 to $389.00 in a research report on Wednesday, November 13th. Melius cut Eaton from a “buy” rating to a “hold” rating and set a $373.00 price target for the company. in a report on Tuesday, January 28th. Jefferies Financial Group upped their price objective on Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Mizuho raised their target price on shares of Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, Citigroup decreased their price target on shares of Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $369.20.

Eaton Price Performance

Shares of ETN stock opened at $316.92 on Wednesday. The stock has a 50 day moving average price of $342.21 and a 200 day moving average price of $331.48. Eaton Co. plc has a 52-week low of $255.65 and a 52-week high of $379.99. 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 firm has a market capitalization of $125.25 billion, a P/E ratio of 33.36, a P/E/G ratio of 2.37 and a beta of 1.05.

Eaton (NYSE:ETN) last released its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, topping 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 quarter in the prior year, the business earned $2.55 earnings per share. As a group, sell-side analysts predict that Eaton Co. plc will post 12.04 earnings per share for the current year.

About Eaton

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.