Wesbanco Bank Inc. reduced its position in Eaton Co. plc (NYSE:ETN – Free Report) by 5.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 69,218 shares of the industrial products company’s stock after selling 3,793 shares during the quarter. Eaton comprises approximately 0.8% of Wesbanco Bank Inc.’s holdings, making the stock its 25th largest position. Wesbanco Bank Inc.’s holdings in Eaton were worth $22,971,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of ETN. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Eaton by 253.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,273,685 shares of the industrial products company’s stock worth $753,590,000 after acquiring an additional 1,629,856 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in Eaton by 27,075.5% in the 3rd quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company’s stock worth $355,959,000 after acquiring an additional 1,070,024 shares during the period. Janus Henderson Group PLC grew its holdings in Eaton by 32.8% during the 3rd quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company’s stock valued at $801,798,000 after purchasing an additional 597,700 shares in the last quarter. Electron Capital Partners LLC lifted its stake in shares of Eaton by 8,348.9% in the second quarter. Electron Capital Partners LLC now owns 446,524 shares of the industrial products company’s stock worth $140,008,000 after acquiring an additional 441,239 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. acquired a new position in Eaton during the 3rd quarter worth $137,794,000. Institutional investors and hedge funds own 82.97% of the company’s stock.
Insider Activity
In related news, insider Craig Arnold sold 61,569 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total value of $22,224,561.93. Following the sale, the insider now directly owns 506,360 shares of the company’s stock, valued at $182,780,769.20. This trade represents a 10.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gregory R. Page sold 4,000 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $335.30, for a total value of $1,341,200.00. Following the transaction, the director now owns 51,422 shares in the company, valued at approximately $17,241,796.60. This represents a 7.22 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 76,981 shares of company stock worth $27,660,117. 0.53% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
Read Our Latest Analysis on Eaton
Eaton Stock Performance
NYSE:ETN opened at $371.36 on Thursday. Eaton Co. plc has a 1 year low of $239.17 and a 1 year high of $379.99. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00. The business has a fifty day simple moving average of $353.58 and a two-hundred day simple moving average of $330.45. The company has a market capitalization of $146.76 billion, a P/E ratio of 39.51, a P/E/G ratio of 2.48 and a beta of 1.06.
Eaton (NYSE:ETN – Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. The business had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.47 EPS. On average, analysts expect that Eaton Co. plc will post 10.79 earnings per share for the current year.
Eaton 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.
Featured Stories
- Five stocks we like better than Eaton
- Bank Stocks – Best Bank Stocks to Invest In
- 3 Small-Cap Stocks Insiders and Institutions Are Buying
- Are Penny Stocks a Good Fit for Your Portfolio?
- MaxCyte: Building the Future of Cell and Gene Therapy Innovation
- What is the Nasdaq? Complete Overview with History
- Oracle Announces Game-Changing News for the AI Industry
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 – Free Report).
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.