ING Groep NV Acquires Shares of 41,983 Eaton Co., PLC (ETN)

ING Groep NV acquired a new stake in shares of Eaton Co., PLC (NYSE:ETN) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 41,983 shares of the industrial products company’s stock, valued at approximately $3,317,000.

Other hedge funds also recently modified their holdings of the company. PGGM Investments raised its stake in Eaton by 142.1% in the third quarter. PGGM Investments now owns 703,839 shares of the industrial products company’s stock valued at $54,048,000 after buying an additional 413,096 shares during the last quarter. Miller Howard Investments Inc. NY raised its stake in Eaton by 41.1% in the fourth quarter. Miller Howard Investments Inc. NY now owns 1,077,532 shares of the industrial products company’s stock valued at $85,136,000 after buying an additional 313,924 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in Eaton by 91.8% in the third quarter. Canada Pension Plan Investment Board now owns 375,869 shares of the industrial products company’s stock valued at $28,863,000 after buying an additional 179,900 shares during the last quarter. Denali Advisors LLC raised its stake in Eaton by 109.6% in the fourth quarter. Denali Advisors LLC now owns 199,978 shares of the industrial products company’s stock valued at $15,800,000 after buying an additional 104,569 shares during the last quarter. Finally, Aperio Group LLC raised its stake in Eaton by 15.1% in the fourth quarter. Aperio Group LLC now owns 381,172 shares of the industrial products company’s stock valued at $30,116,000 after buying an additional 50,119 shares during the last quarter. 76.63% of the stock is currently owned by institutional investors.

Eaton Co., PLC (NYSE:ETN) opened at $80.77 on Friday. Eaton Co., PLC has a 12 month low of $69.82 and a 12 month high of $89.85. The stock has a market capitalization of $34,988.05, a PE ratio of 12.09, a PEG ratio of 1.83 and a beta of 1.39. The company has a quick ratio of 1.13, a current ratio of 1.65 and a debt-to-equity ratio of 0.41.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Thursday, February 1st. The industrial products company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.04. Eaton had a return on equity of 12.84% and a net margin of 14.60%. The firm had revenue of $5.21 billion during the quarter, compared to analysts’ expectations of $5.10 billion. During the same period last year, the business posted $1.12 earnings per share. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. research analysts anticipate that Eaton Co., PLC will post 5.14 EPS for the current year.

ETN has been the subject of a number of research analyst reports. Robert W. Baird upgraded Eaton from a “neutral” rating to an “outperform” rating and increased their price target for the company from $82.00 to $92.00 in a research note on Wednesday, January 3rd. Stifel Nicolaus upgraded Eaton from a “hold” rating to a “buy” rating and increased their price target for the company from $77.00 to $99.00 in a research note on Sunday, February 4th. Zacks Investment Research cut Eaton from a “hold” rating to a “sell” rating in a research note on Tuesday, January 9th. Argus increased their price target on Eaton from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday. Finally, ValuEngine upgraded Eaton from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company’s stock. Eaton has an average rating of “Hold” and a consensus price target of $86.93.

In related news, Director Charles E. Golden sold 4,311 shares of Eaton stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $76.03, for a total transaction of $327,765.33. Following the completion of the transaction, the director now directly owns 20,275 shares in the company, valued at $1,541,508.25. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Curtis J. Hutchins sold 14,360 shares of Eaton stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $78.36, for a total value of $1,125,249.60. Following the transaction, the insider now owns 26,596 shares of the company’s stock, valued at $2,084,062.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,745 shares of company stock valued at $2,233,669. Company insiders own 0.80% of the company’s stock.

TRADEMARK VIOLATION WARNING: “ING Groep NV Acquires Shares of 41,983 Eaton Co., PLC (ETN)” was first published by Sports Perspectives and is the sole property of of Sports Perspectives. If you are viewing this article on another website, it was illegally copied and reposted in violation of US & international copyright and trademark law. The original version of this article can be accessed at https://sportsperspectives.com/2018/02/10/ing-groep-nv-acquires-shares-of-41983-eaton-co-plc-etn.html.

About Eaton

Eaton Corporation (Eaton) is a diversified power management company. It is engaged in the manufacturing of electrical components and systems for power quality, distribution and control; hydraulics components, systems and services for industrial and mobile equipment; aerospace fuel, hydraulics and pneumatic systems for commercial and military use, and truck and automotive drivetrain and powertrain systems for performance, fuel economy and safety.

Want to see what other hedge funds are holding ETN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Eaton Co., PLC (NYSE:ETN).

Institutional Ownership by Quarter for Eaton (NYSE:ETN)

Receive News & Ratings for Eaton Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eaton and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply