Chevy Chase Trust Holdings LLC Cuts Stock Holdings in Eaton Co. plc (NYSE:ETN)

Chevy Chase Trust Holdings LLC decreased its holdings in shares of Eaton Co. plc (NYSE:ETN) by 2.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 208,181 shares of the industrial products company’s stock after selling 5,973 shares during the period. Chevy Chase Trust Holdings LLC owned 0.05% of Eaton worth $69,089,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Groupama Asset Managment boosted its holdings in shares of 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 boosted its holdings in shares of Eaton by 321.7% in the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after buying an additional 74 shares in the last quarter. Morse Asset Management Inc acquired a new stake in Eaton in the 3rd quarter worth approximately $33,000. Activest Wealth Management grew its position in Eaton by 621.4% during the 4th quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 87 shares during the last quarter. Finally, DT Investment Partners LLC purchased a new stake in Eaton during the 3rd quarter worth approximately $37,000. 82.97% of the stock is currently owned by institutional investors.

Eaton Price Performance

Eaton stock opened at $307.70 on Friday. Eaton Co. plc has a 52-week low of $255.65 and a 52-week high of $379.99. The firm has a market capitalization of $121.60 billion, a price-to-earnings ratio of 32.39, a PEG ratio of 2.37 and a beta of 1.05. The company has a fifty day simple moving average of $339.72 and a 200-day simple moving average of $331.47. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46.

Eaton (NYSE:ETN) last released its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.82 by $0.01. Eaton had a net margin of 15.25% and a return on equity of 22.62%. During the same quarter last year, the business earned $2.55 earnings per share. On average, equities analysts anticipate that Eaton Co. plc will post 12.04 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on ETN. Citigroup dropped their target price on shares of Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Bank of America boosted their target price on shares of Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Evercore ISI downgraded shares of Eaton from an “outperform” rating to an “inline” rating and upped their price objective for the company from $333.00 to $389.00 in a report on Wednesday, November 13th. Mizuho upped their price objective 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, Melius Research reaffirmed a “hold” rating and issued a $373.00 price objective on shares of Eaton in a report on Tuesday, January 28th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $369.20.

Insider Activity at Eaton

In other Eaton news, Director Gregory R. Page sold 10,000 shares of the stock in a transaction dated 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 completion of the transaction, the director now owns 43,203 shares of the company’s stock, valued at $15,379,403.94. This trade represents a 18.80 % decrease in their ownership of the stock. The sale was disclosed in a 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 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 position. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by insiders.

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.