SSI Investment Management Inc. trimmed its position in Eaton Co., PLC (NYSE:ETN) by 25.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,751 shares of the industrial products company’s stock after selling 963 shares during the period. SSI Investment Management Inc.’s holdings in Eaton were worth $218,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently bought and sold shares of the company. Cable Hill Partners LLC grew its position in Eaton by 174.8% in the 3rd quarter. Cable Hill Partners LLC now owns 1,363 shares of the industrial products company’s stock valued at $105,000 after buying an additional 867 shares during the last quarter. Independence Bank of Kentucky purchased a new position in Eaton in the 4th quarter valued at $118,000. Fieldpoint Private Securities LLC purchased a new position in Eaton in the 3rd quarter valued at $130,000. Montag A & Associates Inc. purchased a new position in Eaton in the 4th quarter valued at $201,000. Finally, Murphy Capital Management Inc. purchased a new position in Eaton in the 4th quarter valued at $201,000. Hedge funds and other institutional investors own 74.74% of the company’s stock.
In related news, Director Charles E. Golden sold 4,311 shares of the business’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $76.03, for a total value of $327,765.33. Following the sale, the director now directly owns 20,275 shares in the company, valued at approximately $1,541,508.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Ken D. Semelsberger sold 15,595 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $82.67, for a total transaction of $1,289,238.65. Following the completion of the sale, the insider now owns 104,613 shares in the company, valued at $8,648,356.71. The disclosure for this sale can be found here. Insiders sold a total of 44,340 shares of company stock worth $3,522,908 over the last quarter. Insiders own 0.80% of the company’s stock.
Shares of Eaton Co., PLC (NYSE ETN) opened at $82.79 on Monday. Eaton Co., PLC has a 1 year low of $69.82 and a 1 year high of $89.85. The company has a quick ratio of 1.13, a current ratio of 1.65 and a debt-to-equity ratio of 0.41. The company has a market cap of $36,480.00, a PE ratio of 12.39, a P/E/G ratio of 1.99 and a beta of 1.38.
Eaton (NYSE:ETN) last released its quarterly earnings data on Thursday, February 1st. The industrial products company reported $1.29 EPS for the quarter, topping the consensus estimate of $1.25 by $0.04. Eaton had a net margin of 14.60% and a return on equity of 12.84%. The business had revenue of $5.21 billion for the quarter, compared to analyst estimates of $5.10 billion. During the same period in the previous year, the firm earned $1.12 EPS. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. analysts anticipate that Eaton Co., PLC will post 5.14 earnings per share for the current fiscal year.
Several equities research analysts have commented on ETN shares. Citigroup boosted their target price on shares of Eaton from $90.00 to $92.00 and gave the stock a “buy” rating in a research report on Thursday, November 2nd. Stifel Nicolaus restated a “hold” rating and set a $80.00 target price on shares of Eaton in a research report on Monday, December 11th. Zacks Investment Research upgraded shares of Eaton from a “hold” rating to a “buy” rating and set a $88.00 target price on the stock in a research report on Tuesday, January 2nd. Credit Suisse Group restated an “outperform” rating and set a $92.00 target price (up from $86.00) on shares of Eaton in a research report on Wednesday, November 1st. Finally, Robert W. Baird upgraded shares of Eaton from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $82.00 to $92.00 in a research report on Wednesday, January 3rd. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $87.57.
TRADEMARK VIOLATION WARNING: “SSI Investment Management Inc. Has $218,000 Position in Eaton Co., PLC (ETN)” was first reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are viewing this report on another website, it was copied illegally and republished in violation of United States and international copyright law. The correct version of this report can be viewed at https://www.dispatchtribunal.com/2018/02/19/ssi-investment-management-inc-has-218000-position-in-eaton-co-plc-etn.html.
Eaton Company Profile
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.
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