Hager Investment Management Services LLC Takes $38,000 Position in Eaton Co. plc (NYSE:ETN)

Hager Investment Management Services LLC bought a new stake in Eaton Co. plc (NYSE:ETN) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 115 shares of the industrial products company’s stock, valued at approximately $38,000.

A number of other large investors have also added to or reduced their stakes in the company. Geode Capital Management LLC grew its stake in shares of Eaton by 0.7% during the third quarter. Geode Capital Management LLC now owns 8,069,341 shares of the industrial products company’s stock valued at $2,665,342,000 after acquiring an additional 56,516 shares in the last quarter. Franklin Resources Inc. grew its stake in Eaton by 15.1% during the 3rd quarter. Franklin Resources Inc. now owns 2,421,626 shares of the industrial products company’s stock valued at $836,938,000 after purchasing an additional 316,830 shares in the last quarter. Janus Henderson Group PLC increased its holdings in Eaton by 32.8% during the 3rd quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company’s stock worth $801,798,000 after purchasing an additional 597,700 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Eaton by 253.2% in 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 valued at $753,590,000 after purchasing an additional 1,629,856 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Eaton by 2.9% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,422,189 shares of the industrial products company’s stock valued at $471,370,000 after buying an additional 40,078 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Eaton

In related news, Director Gregory R. Page sold 10,000 shares of the 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 owns 43,203 shares in the company, valued at $15,379,403.94. This trade represents a 18.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $378.58, for a total value of $534,554.96. Following the sale, the insider now owns 31,200 shares in the company, valued at approximately $11,811,696. The trade was a 4.33 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.

Eaton Trading Up 0.1 %

Shares of ETN stock opened at $315.04 on Thursday. Eaton Co. plc has a 1 year low of $255.65 and a 1 year high of $379.99. The firm has a market capitalization of $124.50 billion, a PE ratio of 33.16, a price-to-earnings-growth ratio of 2.27 and a beta of 1.05. The stock has a fifty day moving average of $346.77 and a two-hundred day moving average of $331.28. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50.

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, beating 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 period last year, the firm posted $2.55 earnings per share. As a group, research analysts expect that Eaton Co. plc will post 12 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ETN. Melius Research reaffirmed a “hold” rating and issued a $373.00 price target on shares of Eaton in a report on Tuesday, January 28th. Melius lowered shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price on the stock. in a research note on Tuesday, January 28th. Royal Bank of Canada decreased their price target on Eaton from $407.00 to $405.00 and set an “outperform” rating for the company in a research note on Monday. Wells Fargo & Company cut their price objective on Eaton from $350.00 to $335.00 and set an “equal weight” rating on the stock in a research note on Monday. Finally, Barclays lifted their target price on Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Six 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.com, the company has an average rating of “Moderate Buy” and an average price target of $369.20.

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.