Rhumbline Advisers Sells 21,835 Shares of Eaton Co. plc (NYSE:ETN)

Rhumbline Advisers trimmed its position in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 3.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 702,064 shares of the industrial products company's stock after selling 21,835 shares during the period. Rhumbline Advisers owned 0.18% of Eaton worth $232,994,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Creative Planning increased its holdings in shares of Eaton by 2.7% during the third quarter. Creative Planning now owns 181,067 shares of the industrial products company's stock valued at $60,013,000 after purchasing an additional 4,705 shares during the period. Vontobel Holding Ltd. increased its holdings in shares of Eaton by 52.6% in the third quarter. Vontobel Holding Ltd. now owns 26,611 shares of the industrial products company's stock valued at $8,820,000 after buying an additional 9,174 shares in the last quarter. B.O.S.S. Retirement Advisors LLC lifted its position in shares of Eaton by 18.4% during the 3rd quarter. B.O.S.S. Retirement Advisors LLC now owns 1,270 shares of the industrial products company's stock valued at $421,000 after acquiring an additional 197 shares during the last quarter. Good Life Advisors LLC boosted its stake in shares of Eaton by 46.0% during the 3rd quarter. Good Life Advisors LLC now owns 2,839 shares of the industrial products company's stock worth $941,000 after acquiring an additional 895 shares in the last quarter. Finally, Buffington Mohr McNeal grew its holdings in shares of Eaton by 6.2% in the 3rd quarter. Buffington Mohr McNeal now owns 3,402 shares of the industrial products company's stock worth $1,128,000 after acquiring an additional 200 shares during the last quarter. Institutional investors own 82.97% of the company's stock.

Eaton Stock Down 1.6 %

Shares of ETN traded down $5.01 during trading hours on Wednesday, hitting $308.11. 869,010 shares of the company were exchanged, compared to its average volume of 3,311,545. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. The company has a market cap of $121.76 billion, a PE ratio of 32.43, a PEG ratio of 2.64 and a beta of 1.05. The firm's 50 day moving average is $335.20 and its 200-day moving average is $332.20. Eaton Co. plc has a 52 week low of $255.65 and a 52 week high of $379.99.

Eaton (NYSE:ETN - Get Free Report) last announced its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, beating 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 quarter in the prior year, the firm earned $2.55 EPS. On average, equities research analysts forecast that Eaton Co. plc will post 12.03 EPS for the current fiscal year.

Insiders Place Their Bets

In related 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 transaction, the director now owns 43,203 shares of the company's stock, valued at approximately $15,379,403.94. The trade was a 18.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the stock in a transaction on Monday, November 25th. The shares were 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.33% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Melius Research reiterated a "hold" rating and issued a $373.00 price target on shares of Eaton in a research report on Tuesday, January 28th. UBS Group started coverage on shares of Eaton in a report on Wednesday, November 13th. They issued a "buy" rating and a $431.00 target price for the company. Citigroup cut their price target on shares of Eaton from $440.00 to $410.00 and set a "buy" rating on the stock in a report on Monday, January 13th. JPMorgan Chase & Co. decreased their price objective on shares of Eaton from $350.00 to $348.00 and set an "overweight" rating for the company in a research note on Wednesday, January 15th. Finally, Mizuho raised their price objective on Eaton from $365.00 to $385.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $366.05.

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.