Sentry Investment Management LLC Reduces Position in Eaton Co. plc (NYSE:ETN)

Sentry Investment Management LLC trimmed its holdings in Eaton Co. plc (NYSE:ETN) by 14.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,630 shares of the industrial products company’s stock after selling 265 shares during the quarter. Sentry Investment Management LLC’s holdings in Eaton were worth $541,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Groupama Asset Managment lifted its position in Eaton by 83.2% during the third quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock worth $31,000 after buying an additional 4,298 shares in the last quarter. Horizon Bancorp Inc. IN raised its holdings in shares of Eaton by 321.7% during the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 74 shares during the period. Morse Asset Management Inc acquired a new position in shares of Eaton during the 3rd quarter valued at about $33,000. Activest Wealth Management grew its holdings 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 valued at $34,000 after purchasing an additional 87 shares during the period. Finally, Hager Investment Management Services LLC acquired a new stake in Eaton during the fourth quarter worth about $38,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Eaton

In other news, Director Gregory R. Page sold 10,000 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $15,379,403.94. This represents a 18.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on ETN shares. JPMorgan Chase & Co. decreased their target price 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. Wells Fargo & Company reiterated an “equal weight” rating on shares of Eaton in a research report on Thursday, February 13th. Bank of America lifted their target price on Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Melius Research reiterated a “hold” rating and set a $373.00 price target on shares of Eaton in a report on Tuesday, January 28th. Finally, Evercore ISI reduced their price objective on shares of Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a report on Wednesday, February 19th. Seven 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.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $366.05.

Eaton Stock Performance

Shares of Eaton stock opened at $289.68 on Tuesday. The firm has a market capitalization of $114.48 billion, a P/E ratio of 30.49, a P/E/G ratio of 2.64 and a beta of 1.05. 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 Co. plc has a 52 week low of $255.65 and a 52 week high of $379.99. The firm’s 50 day moving average is $330.66 and its two-hundred day moving average is $332.83.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, topping the consensus estimate 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 company posted $2.55 EPS. Research analysts forecast that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Company 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.