Smith Salley & Associates reduced its holdings in Eaton Co. PLC (NYSE:ETN) by 4.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 34,503 shares of the industrial products company’s stock after selling 1,756 shares during the period. Smith Salley & Associates’ holdings in Eaton were worth $2,369,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. increased its position in Eaton by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 31,765,973 shares of the industrial products company’s stock worth $2,755,064,000 after buying an additional 150,330 shares during the period. Vanguard Group Inc increased its position in shares of Eaton by 0.5% during the third quarter. Vanguard Group Inc now owns 31,765,973 shares of the industrial products company’s stock valued at $2,755,064,000 after purchasing an additional 150,330 shares during the period. Bank of New York Mellon Corp increased its position in shares of Eaton by 9.4% during the third quarter. Bank of New York Mellon Corp now owns 6,820,730 shares of the industrial products company’s stock valued at $591,563,000 after purchasing an additional 586,855 shares during the period. LSV Asset Management increased its position in shares of Eaton by 310.2% during the third quarter. LSV Asset Management now owns 5,085,523 shares of the industrial products company’s stock valued at $441,067,000 after purchasing an additional 3,845,813 shares during the period. Finally, Morgan Stanley increased its position in shares of Eaton by 6.4% during the third quarter. Morgan Stanley now owns 4,737,065 shares of the industrial products company’s stock valued at $410,845,000 after purchasing an additional 285,824 shares during the period. 79.17% of the stock is currently owned by institutional investors.

Shares of ETN stock opened at $75.83 on Monday. The company has a current ratio of 1.47, a quick ratio of 0.93 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $32.86 billion, a P/E ratio of 14.07, a P/E/G ratio of 1.40 and a beta of 1.45. Eaton Co. PLC has a one year low of $64.46 and a one year high of $89.46.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Thursday, January 31st. The industrial products company reported $1.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.43 by $0.03. The business had revenue of $5.46 billion for the quarter, compared to analyst estimates of $5.42 billion. Eaton had a return on equity of 14.06% and a net margin of 9.93%. Research analysts expect that Eaton Co. PLC will post 5.87 earnings per share for the current fiscal year.

A number of analysts have recently issued reports on ETN shares. Morgan Stanley lowered their price objective on Eaton from $94.00 to $80.00 and set a “hold” rating on the stock in a research report on Wednesday, October 31st. Credit Suisse Group lowered their price objective on Eaton from $91.00 to $85.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 31st. Deutsche Bank lowered their price objective on Eaton from $102.00 to $83.00 and set a “buy” rating on the stock in a research report on Wednesday, October 31st. Barclays restated an “underweight” rating and set a $75.00 price objective (down from $77.00) on shares of Eaton in a research report on Thursday, November 1st. Finally, UBS Group set a $97.00 price objective on Eaton and gave the company a “buy” rating in a research report on Wednesday, October 31st. Three analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have assigned a buy rating to the company. Eaton currently has an average rating of “Buy” and a consensus target price of $86.00.

In related news, insider Joao V. Faria sold 5,000 shares of the business’s stock in a transaction on Monday, February 4th. The stock was sold at an average price of $76.73, for a total value of $383,650.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.50% of the stock is owned by insiders.

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About Eaton

Eaton Corporation plc operates as a power management company worldwide. Its Electrical Products segment offers electrical and industrial components, residential products, single phase power quality products, emergency lighting and fire detection products, wiring devices, structural support systems, and circuit protection and lighting products.

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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