Eaton Co. plc (NYSE:ETN) Shares Sold by Goelzer Investment Management Inc.

Goelzer Investment Management Inc. cut its holdings in shares of Eaton Co. plc (NYSE:ETN) by 2.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 57,580 shares of the industrial products company’s stock after selling 1,615 shares during the period. Eaton comprises approximately 1.1% of Goelzer Investment Management Inc.’s portfolio, making the stock its 8th largest position. Goelzer Investment Management Inc.’s holdings in Eaton were worth $19,109,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in ETN. APG Asset Management N.V. raised its position in shares of Eaton by 33.7% during the second quarter. APG Asset Management N.V. now owns 199,553 shares of the industrial products company’s stock worth $58,381,000 after acquiring an additional 50,340 shares during the last quarter. Dark Forest Capital Management LP bought a new position in Eaton during the 2nd quarter worth approximately $400,000. MBB Public Markets I LLC lifted its position in shares of Eaton by 1,753.7% in the 2nd quarter. MBB Public Markets I LLC now owns 28,491 shares of the industrial products company’s stock worth $8,933,000 after purchasing an additional 26,954 shares during the period. Maverick Capital Ltd. acquired a new stake in shares of Eaton during the second quarter worth $782,000. Finally, Lighthouse Investment Partners LLC bought a new position in Eaton during the second quarter worth $2,195,000. 82.97% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have commented on ETN shares. Jefferies Financial Group upped their price target 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. JPMorgan Chase & Co. cut their target price on Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. 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. UBS Group began coverage on shares of Eaton in a research report on Wednesday, November 13th. They set a “buy” rating and a $431.00 price objective for the company. Finally, Citigroup dropped their target price on shares of Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $368.89.

Insider Activity at Eaton

In related news, insider Craig Arnold sold 61,569 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the completion of the sale, the insider now directly owns 506,360 shares of the company’s stock, valued at approximately $182,780,769.20. This trade represents a 10.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gregory R. Page sold 10,000 shares of the business’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $355.98, for a total value of $3,559,800.00. Following the completion of the transaction, the director now directly owns 43,203 shares in the company, valued at approximately $15,379,403.94. This represents a 18.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 76,981 shares of company stock valued at $27,660,117 over the last ninety days. Corporate insiders own 0.53% of the company’s stock.

Eaton Stock Performance

Shares of ETN opened at $368.63 on Friday. Eaton Co. plc has a 52 week low of $241.87 and a 52 week high of $379.99. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53. The stock has a 50 day moving average price of $353.77 and a two-hundred day moving average price of $331.00. The firm has a market capitalization of $145.68 billion, a P/E ratio of 39.22, a P/E/G ratio of 2.57 and a beta of 1.06.

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

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.