Sachetta LLC Has $42,000 Stock Holdings in Eaton Co. plc (NYSE:ETN)

Sachetta LLC reduced its position in Eaton Co. plc (NYSE:ETN) by 46.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 128 shares of the industrial products company’s stock after selling 111 shares during the period. Sachetta LLC’s holdings in Eaton were worth $42,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of 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 period. International Assets Investment Management LLC boosted its position in 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 purchasing an additional 1,070,024 shares during the period. Janus Henderson Group PLC increased its holdings in shares of 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 during the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in shares of Eaton in the third quarter valued at about $137,794,000. Finally, Assenagon Asset Management S.A. lifted its stake 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 last quarter. Institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on ETN shares. JPMorgan Chase & Co. lowered their price target 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. Mizuho lifted their price target on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. UBS Group began coverage on Eaton in a report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 price objective on the stock. Barclays lifted their target price on Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Finally, Wells Fargo & Company decreased their price target on shares of Eaton from $365.00 to $350.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, Eaton has an average rating of “Moderate Buy” and a consensus price target of $368.89.

Insider Buying and Selling

In related news, insider Craig Arnold sold 61,569 shares of Eaton stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the sale, the insider now directly owns 506,360 shares in the company, valued at $182,780,769.20. This trade represents a 10.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now 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. Insiders have sold 76,981 shares of company stock worth $27,660,117 in the last 90 days. Insiders own 0.53% of the company’s stock.

Eaton Stock Performance

Eaton stock opened at $368.63 on Friday. The stock has a market cap of $145.68 billion, a PE ratio of 39.22, a P/E/G ratio of 2.57 and a beta of 1.06. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. Eaton Co. plc has a 12-month low of $241.87 and a 12-month high of $379.99. The business’s 50-day moving average price is $353.96 and its two-hundred day moving average price is $331.35.

Eaton (NYSE:ETN) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. The business had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the company earned $2.47 EPS. As a group, analysts expect that Eaton Co. plc will post 10.79 earnings per share for the current fiscal 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.