Pittenger & Anderson Inc. Sells 1,587 Shares of Eaton Co. plc (NYSE:ETN)

Pittenger & Anderson Inc. decreased its position in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 2.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,562 shares of the industrial products company's stock after selling 1,587 shares during the period. Pittenger & Anderson Inc.'s holdings in Eaton were worth $17,776,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Eaton by 253.2% in 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 worth $753,590,000 after purchasing an additional 1,629,856 shares in the last quarter. International Assets Investment Management LLC raised its holdings in shares of 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 worth $355,959,000 after acquiring an additional 1,070,024 shares during the period. Janus Henderson Group PLC grew its position 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 purchasing an additional 597,700 shares in the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in shares of Eaton in the 3rd quarter valued at about $137,794,000. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Eaton by 3,508.4% during the 4th 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. Institutional investors own 82.97% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ETN shares. Jefferies Financial Group lifted their price target on shares of Eaton from $400.00 to $440.00 and gave the company a "buy" rating in a report on Friday, December 6th. Royal Bank of Canada reduced their price objective on shares of Eaton from $407.00 to $405.00 and set an "outperform" rating on the stock in a research note on Monday, February 3rd. JPMorgan Chase & Co. lowered their price objective 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. Melius downgraded shares of Eaton from a "buy" rating to a "hold" rating and set a $373.00 price objective on the stock. in a report on Tuesday, January 28th. Finally, Bank of America increased their price target on shares of Eaton from $350.00 to $410.00 and gave the company a "buy" rating in a research report on Wednesday, November 13th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Eaton has an average rating of "Moderate Buy" and a consensus target price of $366.05.

Insider Buying and Selling

In other Eaton news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the stock in a transaction that occurred 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 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 legal filing with the Securities & Exchange Commission, which can be accessed through 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 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 $15,379,403.94. This represents a 18.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.53% of the stock is owned by corporate insiders.

Eaton Stock Down 0.2 %

Shares of ETN stock traded down $0.48 during trading hours on Thursday, reaching $308.95. 1,982,892 shares of the company's stock were exchanged, compared to its average volume of 3,330,502. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. Eaton Co. plc has a 1 year low of $255.65 and a 1 year high of $379.99. The stock has a market cap of $122.10 billion, a PE ratio of 32.52, a PEG ratio of 2.68 and a beta of 1.05. The stock's fifty day moving average price is $334.15 and its two-hundred day moving average price is $332.04.

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, beating analysts' consensus estimates 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 firm earned $2.55 earnings per share. Research analysts predict that Eaton Co. plc will post 12.02 EPS 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.