Pacer Advisors Inc. Increases Position in Eaton Co. plc (NYSE:ETN)

Pacer Advisors Inc. lifted its position in shares of Eaton Co. plc (NYSE:ETNFree Report) by 7.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 31,622 shares of the industrial products company’s stock after buying an additional 2,110 shares during the quarter. Pacer Advisors Inc.’s holdings in Eaton were worth $10,494,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of ETN. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Eaton by 253.2% during 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 boosted its position 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 last quarter. Janus Henderson Group PLC grew its stake in Eaton by 32.8% during 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 acquiring an additional 597,700 shares in the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in Eaton in the 3rd quarter valued at $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 valued at $133,321,000 after purchasing an additional 390,595 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Activity

In related news, Director Gregory R. Page sold 4,000 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $335.30, for a total value of $1,341,200.00. Following the completion of the transaction, the director now directly owns 51,422 shares in the company, valued at $17,241,796.60. The trade was a 7.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Craig Arnold sold 61,569 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total value of $22,224,561.93. Following the completion of the sale, the insider now owns 506,360 shares of the company’s stock, valued at $182,780,769.20. This trade represents a 10.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 76,981 shares of company stock valued at $27,660,117. Company insiders own 0.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Sanford C. Bernstein assumed coverage on Eaton in a research report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 target price on the stock. Wells Fargo & Company cut their target price on shares of Eaton from $365.00 to $350.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Jefferies Financial Group increased their price objective on shares of Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Bank of America boosted their target price on shares of Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, Evercore ISI lowered Eaton from an “outperform” rating to an “inline” rating and lifted their price target for the stock from $333.00 to $389.00 in a research report on Wednesday, November 13th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Eaton currently has an average rating of “Moderate Buy” and a consensus target price of $369.30.

Read Our Latest Analysis on ETN

Eaton Stock Up 0.2 %

Shares of NYSE ETN opened at $312.26 on Wednesday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53. Eaton Co. plc has a 52-week low of $244.35 and a 52-week high of $379.99. The stock has a 50 day moving average price of $353.01 and a 200 day moving average price of $331.34. The firm has a market capitalization of $123.41 billion, a price-to-earnings ratio of 33.22, a PEG ratio of 2.57 and a beta of 1.06.

Eaton (NYSE:ETNGet Free Report) last released its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.80 by $0.04. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The business had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.37 billion. During the same period in the previous year, the company earned $2.47 earnings per share. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. Sell-side analysts expect that Eaton Co. plc will post 10.79 earnings per share for the current year.

Eaton Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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