Baillie Gifford & Co. Has $264.83 Million Stake in Eaton Co. plc (NYSE:ETN)

Baillie Gifford & Co. cut its stake in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 36.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 797,982 shares of the industrial products company's stock after selling 461,438 shares during the period. Baillie Gifford & Co. owned 0.20% of Eaton worth $264,826,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Horizon Bancorp Inc. IN raised its position in Eaton by 321.7% during the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company's stock valued at $32,000 after purchasing an additional 74 shares during the period. Morse Asset Management Inc purchased a new stake in shares of Eaton in the third quarter worth approximately $33,000. Activest Wealth Management raised 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 worth $34,000 after buying an additional 87 shares during the period. DT Investment Partners LLC purchased a new stake in shares of Eaton in the third quarter worth approximately $37,000. Finally, Hager Investment Management Services LLC purchased a new stake in shares of Eaton in the fourth quarter worth approximately $38,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Eaton Price Performance

Shares of NYSE ETN traded down $0.48 during mid-day trading on Thursday, reaching $308.95. 1,982,892 shares of the company traded hands, compared to its average volume of 3,330,502. The firm has a market cap of $122.10 billion, a PE ratio of 32.52, a price-to-earnings-growth ratio of 2.68 and a beta of 1.05. Eaton Co. plc has a fifty-two week low of $255.65 and a fifty-two week high of $379.99. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. The stock has a fifty day simple moving average of $334.15 and a 200-day simple moving average of $332.04.

Eaton (NYSE:ETN - Get Free Report) last posted its quarterly earnings data 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 net margin of 15.25% and a return on equity of 22.62%. During the same quarter in the previous year, the business posted $2.55 EPS. Equities research analysts anticipate that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ETN has been the topic of several research analyst reports. Barclays increased their price objective on Eaton from $320.00 to $353.00 and gave the stock an "equal weight" rating in a research note on Thursday, December 5th. Sanford C. Bernstein began coverage on Eaton in a research report on Tuesday, November 5th. They issued an "outperform" rating and a $382.00 price objective for the company. Wells Fargo & Company lowered their price objective on Eaton from $350.00 to $335.00 and set an "equal weight" rating for the company in a research report on Monday, February 3rd. UBS Group assumed coverage on Eaton in a research note on Wednesday, November 13th. They issued a "buy" rating and a $431.00 target price for the company. Finally, Mizuho lifted their price objective on Eaton from $365.00 to $385.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Eaton presently has an average rating of "Moderate Buy" and an average price target of $366.05.

Insider Activity at Eaton

In other Eaton news, Director Gregory R. Page sold 10,000 shares of the business's 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 completion of the transaction, the director now owns 43,203 shares of the company's stock, valued at $15,379,403.94. The trade was a 18.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the business's stock in a transaction on 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 represents a 4.33 % decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is owned by company insiders.

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.