Sycomore Asset Management Has $14.80 Million Position in Eaton Co. plc (NYSE:ETN)

Sycomore Asset Management boosted its holdings in shares of Eaton Co. plc (NYSE:ETN) by 14.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 44,428 shares of the industrial products company’s stock after buying an additional 5,650 shares during the quarter. Eaton comprises 1.9% of Sycomore Asset Management’s holdings, making the stock its 14th largest holding. Sycomore Asset Management’s holdings in Eaton were worth $14,795,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in ETN. B. Riley Wealth Advisors Inc. raised its position in shares of Eaton by 48.9% during the third quarter. B. Riley Wealth Advisors Inc. now owns 41,106 shares of the industrial products company’s stock worth $13,533,000 after purchasing an additional 13,497 shares during the period. Lighthouse Wealth Management Inc. acquired a new stake in Eaton during the 4th quarter worth approximately $297,000. Webster Bank N. A. lifted its stake in Eaton by 52.4% in the fourth quarter. Webster Bank N. A. now owns 17,925 shares of the industrial products company’s stock valued at $5,949,000 after buying an additional 6,166 shares in the last quarter. Ballentine Partners LLC boosted its holdings in shares of Eaton by 9.3% in the fourth quarter. Ballentine Partners LLC now owns 9,256 shares of the industrial products company’s stock valued at $3,072,000 after buying an additional 790 shares during the period. Finally, Blue Trust Inc. increased its position in shares of Eaton by 13.2% during the fourth quarter. Blue Trust Inc. now owns 14,494 shares of the industrial products company’s stock worth $4,804,000 after acquiring an additional 1,694 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Eaton Stock Down 0.9 %

NYSE:ETN opened at $313.11 on Monday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. Eaton Co. plc has a one year low of $255.65 and a one year high of $379.99. The firm’s 50 day simple moving average is $343.25 and its 200 day simple moving average is $331.07. The company has a market cap 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 released its quarterly 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 return on equity of 22.62% and a net margin of 15.25%. During the same period last year, the firm posted $2.55 EPS. On average, research analysts anticipate that Eaton Co. plc will post 12.04 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Wells Fargo & Company lowered their target price on Eaton from $350.00 to $335.00 and set an “equal weight” rating for the company in a report on Monday, February 3rd. Melius lowered Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price on the stock. in a research report on Tuesday, January 28th. Bank of America upped their price target on Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. JPMorgan Chase & Co. lowered their price objective on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Finally, Melius Research restated a “hold” rating and set a $373.00 target price on shares of Eaton in a report on Tuesday, January 28th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $369.20.

Insider Transactions at Eaton

In related news, Director Gregory R. Page sold 10,000 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the transaction, the director now directly owns 43,203 shares of the company’s stock, valued at $15,379,403.94. This represents a 18.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of Eaton stock in a transaction on Monday, November 25th. The shares were sold at an average price of $378.58, for a total transaction of $534,554.96. Following the completion of the sale, the insider now directly owns 31,200 shares of the company’s stock, 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.

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.