Financiere des Professionnels Fonds d investissement inc. Lowers Holdings in Eaton Co. plc (NYSE:ETN)

Financiere des Professionnels Fonds d investissement inc. decreased its stake in shares of Eaton Co. plc (NYSE:ETN) by 12.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 41,145 shares of the industrial products company’s stock after selling 5,784 shares during the quarter. Eaton comprises about 1.0% of Financiere des Professionnels Fonds d investissement inc.’s investment portfolio, making the stock its 25th biggest holding. Financiere des Professionnels Fonds d investissement inc.’s holdings in Eaton were worth $13,655,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Groupama Asset Managment raised its stake in shares of Eaton by 83.2% in the third quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 4,298 shares during the last quarter. Horizon Bancorp Inc. IN raised 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 worth $32,000 after purchasing an additional 74 shares during the last quarter. Morse Asset Management Inc purchased a new position in shares of Eaton in the third quarter worth $33,000. Activest Wealth Management raised its stake in shares of Eaton by 621.4% in the fourth 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 position in shares of Eaton in the third quarter worth $37,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Stock Performance

NYSE:ETN opened at $309.21 on Monday. The stock has a 50-day simple moving average of $337.21 and a two-hundred day simple moving average of $331.70. 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 $122.20 billion, a PE ratio of 32.55, a P/E/G ratio of 2.37 and a beta of 1.05. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, beating 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 period in the prior year, the business earned $2.55 EPS. Analysts forecast that Eaton Co. plc will post 12.04 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on ETN shares. UBS Group started coverage on Eaton in a research note on Wednesday, November 13th. They issued a “buy” rating and a $431.00 price target for the company. Barclays lifted their price objective on Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Sanford C. Bernstein began coverage on Eaton in a report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price objective for the company. Jefferies Financial Group lifted 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. Finally, Royal Bank of Canada cut their price objective on Eaton from $407.00 to $405.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Eaton currently has an average rating of “Moderate Buy” and a consensus target price of $369.20.

Insider Activity

In other news, Director Gregory R. Page sold 10,000 shares of the business’s 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 transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $378.58, for a total value of $534,554.96. Following the completion of the transaction, the insider now owns 31,200 shares in the company, valued at $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. Company 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.