Janney Capital Management LLC Has $3.86 Million Position in Eaton Co. plc (NYSE:ETN)

Janney Capital Management LLC cut its stake in Eaton Co. plc (NYSE:ETN) by 22.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,622 shares of the industrial products company’s stock after selling 3,395 shares during the quarter. Janney Capital Management LLC’s holdings in Eaton were worth $3,857,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Horizon Bancorp Inc. IN increased its holdings in Eaton by 321.7% in the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock worth $32,000 after buying an additional 74 shares during the last quarter. Morse Asset Management Inc bought a new stake in Eaton in the third quarter worth approximately $33,000. West Financial Advisors LLC acquired a new position in shares of Eaton during the 3rd quarter worth $35,000. DT Investment Partners LLC acquired a new position in shares of Eaton during the 3rd quarter worth $37,000. Finally, RPg Family Wealth Advisory LLC acquired a new stake in shares of Eaton in the 3rd quarter valued at $44,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Eaton Stock Performance

NYSE:ETN opened at $373.60 on Wednesday. The firm has a market capitalization of $147.65 billion, a PE ratio of 39.58, a price-to-earnings-growth ratio of 2.40 and a beta of 1.06. 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 Co. plc has a 12-month low of $239.17 and a 12-month high of $379.99. The firm has a 50-day moving average price of $353.58 and a 200 day moving average price of $330.45.

Eaton (NYSE:ETN) last posted its earnings results on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $6.37 billion. During the same quarter last year, the company earned $2.47 EPS. Eaton’s revenue was up 7.9% on a year-over-year basis. Research analysts anticipate that Eaton Co. plc will post 10.79 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Sanford C. Bernstein started coverage on shares of Eaton in a research report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 target price on the stock. Wells Fargo & Company cut their price objective on Eaton from $365.00 to $350.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. Bank of America boosted their target price on Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Mizuho increased their price target on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, Citigroup reduced their price objective on shares of Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $368.89.

Insider Buying and Selling

In related news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $378.58, for a total transaction of $534,554.96. Following the transaction, the insider now owns 31,200 shares in the company, valued at $11,811,696. This represents a 4.33 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gregory R. Page sold 4,000 shares of the firm’s stock in a transaction dated 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 owns 51,422 shares of the company’s stock, valued at $17,241,796.60. The trade was a 7.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 76,981 shares of company stock worth $27,660,117 in the last quarter. 0.33% of the stock is owned by corporate 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.