LSV Asset Management increased its stake in shares of Eaton Co. PLC (NYSE:ETN) by 4.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 5,310,523 shares of the industrial products company’s stock after purchasing an additional 225,000 shares during the quarter. LSV Asset Management owned 1.23% of Eaton worth $364,620,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Comerica Securities Inc. increased its position in shares of Eaton by 7.6% during the 4th quarter. Comerica Securities Inc. now owns 5,112 shares of the industrial products company’s stock valued at $351,000 after purchasing an additional 361 shares during the last quarter. Unison Advisors LLC bought a new position in Eaton in the 4th quarter valued at $1,092,000. Bailard Inc. bought a new position in Eaton in the 4th quarter valued at $208,000. Capital Investment Advisory Services LLC bought a new position in Eaton in the 4th quarter valued at $62,000. Finally, Hamilton Point Investment Advisors LLC grew its position in Eaton by 3.1% in the 4th quarter. Hamilton Point Investment Advisors LLC now owns 40,853 shares of the industrial products company’s stock valued at $2,805,000 after acquiring an additional 1,224 shares during the last quarter. 79.17% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Joao V. Faria sold 5,000 shares of the stock in a transaction on Monday, February 4th. The stock was sold at an average price of $76.73, for a total transaction of $383,650.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.50% of the stock is currently owned by corporate insiders.
ETN opened at $75.89 on Monday. Eaton Co. PLC has a 12-month low of $64.46 and a 12-month high of $89.46. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.93 and a current ratio of 1.47. The firm has a market cap of $32.86 billion, a PE ratio of 14.08, a PEG ratio of 1.40 and a beta of 1.45.
Eaton (NYSE:ETN) last posted its quarterly earnings results on Thursday, January 31st. The industrial products company reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.03. Eaton had a return on equity of 14.06% and a net margin of 9.93%. The business had revenue of $5.46 billion for the quarter, compared to the consensus estimate of $5.42 billion. On average, equities analysts expect that Eaton Co. PLC will post 5.87 EPS for the current year.
Several equities analysts have commented on ETN shares. Wells Fargo & Co reaffirmed a “buy” rating and issued a $85.00 price objective (down previously from $96.00) on shares of Eaton in a research report on Tuesday, October 30th. They noted that the move was a valuation call. Deutsche Bank cut their price objective on Eaton from $102.00 to $83.00 and set a “buy” rating on the stock in a research report on Wednesday, October 31st. Morgan Stanley cut their price objective on Eaton from $94.00 to $80.00 and set a “hold” rating on the stock in a research report on Wednesday, October 31st. UBS Group set a $97.00 price objective on Eaton and gave the company a “buy” rating in a research report on Wednesday, October 31st. Finally, Credit Suisse Group cut their price objective on Eaton from $91.00 to $85.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 31st. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and fourteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $86.00.
Eaton Corporation plc operates as a power management company worldwide. Its Electrical Products segment offers electrical and industrial components, residential products, single phase power quality products, emergency lighting and fire detection products, wiring devices, structural support systems, and circuit protection and lighting products.
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