Nisa Investment Advisors LLC Cuts Stock Holdings in Eaton Co. plc (NYSE:ETN)

Nisa Investment Advisors LLC lessened its stake in Eaton Co. plc (NYSE:ETN) by 0.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 135,961 shares of the industrial products company’s stock after selling 486 shares during the period. Nisa Investment Advisors LLC’s holdings in Eaton were worth $45,121,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Groupama Asset Managment lifted its position in Eaton by 83.2% in the third quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 4,298 shares during the last quarter. Horizon Bancorp Inc. IN raised its holdings in 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 last quarter. Morse Asset Management Inc purchased a new stake in Eaton during the 3rd quarter valued at $33,000. West Financial Advisors LLC bought a new stake in Eaton in the 3rd quarter worth $35,000. Finally, DT Investment Partners LLC purchased a new position in shares of Eaton in the third quarter valued at about $37,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Eaton Stock Performance

Shares of ETN stock opened at $357.45 on Wednesday. The firm has a market capitalization of $141.27 billion, a PE ratio of 38.03, a P/E/G ratio of 2.40 and a beta of 1.06. The company has a 50 day moving average price of $353.82 and a 200-day moving average price of $330.17. Eaton Co. plc has a 52 week low of $239.17 and a 52 week high of $379.99. 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 (NYSE:ETN) last announced its earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $6.37 billion. During the same period in the previous year, the business earned $2.47 EPS. The company’s quarterly revenue was up 7.9% compared to the same quarter last year. As a group, equities research analysts expect that Eaton Co. plc will post 10.79 earnings per share for the current year.

Insider Buying and Selling at Eaton

In related news, Director Gregory R. Page sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the completion of the sale, the director now directly owns 51,422 shares in the company, valued at approximately $17,241,796.60. The trade was a 7.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was 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 in the company, valued at $11,811,696. The trade was a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 76,981 shares of company stock worth $27,660,117 in the last three months. 0.33% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms recently issued reports on ETN. Jefferies Financial Group raised their target price on Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Barclays raised their price target on Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. JPMorgan Chase & Co. reduced their price target on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. Bank of America lifted their price objective on Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, UBS Group assumed coverage on Eaton in a research note on Wednesday, November 13th. They issued a “buy” rating and a $431.00 target price for the company. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $368.89.

Eaton Company 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.