Corps Capital Advisors LLC Invests $1.66 Million in Eaton Co. plc (NYSE:ETN)

Corps Capital Advisors LLC bought a new stake in shares of Eaton Co. plc (NYSE:ETN - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 5,000 shares of the industrial products company's stock, valued at approximately $1,659,000. Eaton accounts for 1.7% of Corps Capital Advisors LLC's investment portfolio, making the stock its 18th biggest position.

A number of other hedge funds also recently modified their holdings of ETN. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Eaton by 253.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,273,685 shares of the industrial products company's stock valued at $753,590,000 after buying an additional 1,629,856 shares during the period. International Assets Investment Management LLC raised its position in Eaton by 27,075.5% during the third quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company's stock valued at $355,959,000 after acquiring an additional 1,070,024 shares in the last quarter. Janus Henderson Group PLC lifted its stake in Eaton by 32.8% in the third quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company's stock valued at $801,798,000 after acquiring an additional 597,700 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in Eaton in the third quarter worth approximately $137,794,000. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Eaton by 3,508.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 401,728 shares of the industrial products company's stock valued at $133,321,000 after purchasing an additional 390,595 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

Eaton Trading Down 4.0 %

Shares of Eaton stock traded down $12.33 during trading on Friday, hitting $296.49. 3,264,771 shares of the company were exchanged, compared to its average volume of 3,319,729. The firm has a market capitalization of $117.17 billion, a P/E ratio of 31.27, a price-to-earnings-growth ratio of 2.65 and a beta of 1.05. Eaton Co. plc has a 1-year low of $255.65 and a 1-year 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 firm's fifty day moving average price is $333.15 and its 200 day moving average price is $331.88.

Eaton (NYSE:ETN - Get Free Report) last announced its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, topping 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 company earned $2.55 earnings per share. As a group, sell-side analysts expect that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. UBS Group began coverage on shares of Eaton in a research report on Wednesday, November 13th. They set a "buy" rating and a $431.00 target price on the stock. Mizuho upped their price target on shares of Eaton from $365.00 to $385.00 and gave the company an "outperform" rating in a report on Friday, November 1st. Melius downgraded Eaton from a "buy" rating to a "hold" rating and set a $373.00 price target on the stock. in a research report on Tuesday, January 28th. Citigroup lowered their price objective on shares of Eaton from $440.00 to $410.00 and set a "buy" rating on the stock in a research note on Monday, January 13th. Finally, Barclays boosted their price objective on shares of Eaton from $320.00 to $353.00 and gave the stock an "equal weight" rating in a report on Thursday, December 5th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $366.05.

Insider Buying and Selling at Eaton

In related news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the firm's stock in a transaction on 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction of $3,559,800.00. Following the sale, the director now directly owns 43,203 shares in the company, valued at $15,379,403.94. This trade represents a 18.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.