SRN Advisors LLC Has $1.10 Million Stake in Eaton Co. plc (NYSE:ETN)

SRN Advisors LLC reduced its position in shares of Eaton Co. plc (NYSE:ETN) by 5.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,301 shares of the industrial products company’s stock after selling 178 shares during the quarter. SRN Advisors LLC’s holdings in Eaton were worth $1,096,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Groupama Asset Managment boosted its holdings in shares of Eaton by 83.2% during the third quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 4,298 shares during the period. Horizon Bancorp Inc. IN boosted its stake in shares of Eaton by 321.7% during the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after buying an additional 74 shares during the period. Morse Asset Management Inc purchased a new position in shares of Eaton during the 3rd quarter valued at $33,000. Activest Wealth Management increased its stake in shares of Eaton by 621.4% in the fourth quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 87 shares during the last quarter. Finally, Hager Investment Management Services LLC purchased a new stake in shares of Eaton during the fourth quarter worth $38,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on ETN shares. Mizuho boosted their target price on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Sanford C. Bernstein initiated coverage on Eaton in a report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price objective on the stock. Barclays lifted their target price on shares of Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Bank of America increased their price target on shares of Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, Jefferies Financial Group lifted their price objective on shares of Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $366.05.

Eaton Stock Performance

Shares of NYSE ETN opened at $297.28 on Thursday. Eaton Co. plc has a 12 month low of $255.65 and a 12 month high of $379.99. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. The company has a market cap of $117.48 billion, a P/E ratio of 31.29, a P/E/G ratio of 2.64 and a beta of 1.05. The business’s 50 day moving average is $328.71 and its two-hundred day moving average is $332.55.

Eaton (NYSE:ETN) last announced its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.82 by $0.01. Eaton had a net margin of 15.25% and a return on equity of 22.62%. During the same quarter last year, the company earned $2.55 EPS. On average, equities analysts expect that Eaton Co. plc will post 12.02 EPS for the current year.

Insider Activity

In related news, Director Gregory R. Page sold 10,000 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the transaction, the director now directly owns 43,203 shares in the company, valued at $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 at this link. 0.33% of the stock is owned by company insiders.

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.