Ieq Capital LLC Has $12.52 Million Stake in Eaton Co. plc (NYSE:ETN)

Ieq Capital LLC grew its holdings in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 24.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 37,737 shares of the industrial products company's stock after purchasing an additional 7,340 shares during the period. Ieq Capital LLC's holdings in Eaton were worth $12,523,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of ETN. Geode Capital Management LLC grew its position in Eaton by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 8,069,341 shares of the industrial products company's stock worth $2,665,342,000 after purchasing an additional 56,516 shares in the last quarter. Franklin Resources Inc. raised its position in Eaton by 15.1% during the third quarter. Franklin Resources Inc. now owns 2,421,626 shares of the industrial products company's stock valued at $836,938,000 after buying an additional 316,830 shares during the period. Janus Henderson Group PLC boosted its position in Eaton by 32.8% during the 3rd quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company's stock worth $801,798,000 after acquiring an additional 597,700 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Eaton by 253.2% during the 3rd 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 acquiring an additional 1,629,856 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Eaton by 1.0% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,436,051 shares of the industrial products company's stock worth $476,582,000 after purchasing an additional 13,862 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on ETN. Evercore ISI reduced their target price on shares of Eaton from $382.00 to $326.00 and set an "in-line" rating for the company in a research note on Wednesday. Royal Bank of Canada cut their target price on Eaton from $407.00 to $405.00 and set an "outperform" rating on the stock in a report on Monday, February 3rd. Wells Fargo & Company decreased their price target on Eaton from $350.00 to $335.00 and set an "equal weight" rating for the company in a research note on Monday, February 3rd. Melius lowered shares of Eaton from a "buy" rating to a "hold" rating and set a $373.00 target price on the stock. in a research note on Tuesday, January 28th. Finally, Sanford C. Bernstein assumed coverage on Eaton in a research note on Tuesday, November 5th. They set an "outperform" rating and a $382.00 target price for the company. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $366.05.

Insiders Place Their Bets

In other news, insider Ernest W. Marshall, Jr. sold 1,412 shares of Eaton stock in a transaction on Monday, November 25th. The stock was sold at an average price of $378.58, for a total value of $534,554.96. Following the completion of the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gregory R. Page sold 10,000 shares of the company's stock in a transaction on Friday, December 13th. The shares were 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. This trade represents a 18.80 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.53% of the company's stock.

Eaton Price Performance

Shares of NYSE:ETN traded down $12.03 on Friday, hitting $296.79. The stock had a trading volume of 3,264,771 shares, compared to its average volume of 3,319,729. The firm's 50 day moving average price is $333.15 and its 200-day moving average price is $331.88. 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 Co. plc has a twelve month low of $255.65 and a twelve month high of $379.99. The company has a market capitalization of $117.29 billion, a price-to-earnings ratio of 31.27, a price-to-earnings-growth ratio of 2.65 and a beta of 1.05.

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 last year, the business earned $2.55 earnings per share. On average, equities research analysts predict that Eaton Co. plc will post 12.02 earnings per share for the current 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.