Meitav Investment House Ltd. Sells 82,513 Shares of Eaton Co. plc (NYSE:ETN)

Meitav Investment House Ltd. cut its stake in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 52.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 74,000 shares of the industrial products company's stock after selling 82,513 shares during the quarter. Meitav Investment House Ltd.'s holdings in Eaton were worth $24,538,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Transactions at Eaton

In other news, insider Ernest W. Marshall, Jr. sold 1,412 shares of Eaton 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. 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 available at the SEC website. Also, Director Gregory R. Page sold 10,000 shares of the firm's stock in a transaction that occurred 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. This trade represents a 18.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.53% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Jefferies Financial Group increased their price objective on shares of Eaton from $400.00 to $440.00 and gave the stock a "buy" rating in a research report on Friday, December 6th. Mizuho raised their price objective on shares of Eaton from $365.00 to $385.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. UBS Group began coverage on shares of Eaton in a research note on Wednesday, November 13th. They issued a "buy" rating and a $431.00 price objective on the stock. Evercore ISI dropped their price objective on shares of Eaton from $382.00 to $326.00 and set an "in-line" rating on the stock in a research note on Wednesday. Finally, Melius Research reissued a "hold" rating and set a $373.00 price target on shares of Eaton in a research report on Tuesday, January 28th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $366.05.

Eaton Stock Performance

NYSE ETN traded down $11.71 during trading hours on Friday, reaching $297.11. 4,399,446 shares of the company were exchanged, compared to its average volume of 3,361,916. Eaton Co. plc has a 1 year low of $255.65 and a 1 year high of $379.99. The business's 50 day simple moving average is $333.15 and its 200-day simple moving average is $331.88. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $117.42 billion, a P/E ratio of 31.27, a P/E/G 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 (EPS) for the quarter, topping analysts' consensus estimates 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 prior year, the firm earned $2.55 earnings per share. On average, equities research analysts expect that Eaton Co. plc will post 12.02 earnings per share for the current year.

About Eaton

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.