By otakuyassine3@gmail.com 
Diversify Advisory Services LLC grew its holdings in shares of Eaton Co. plc (NYSE:ETN – Free Report) by 45.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,579 shares of the industrial products company’s stock after acquiring an additional 491 shares during the period. Diversify Advisory Services LLC’s holdings in Eaton were worth $539,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in ETN. Groupama Asset Managment increased its holdings in Eaton by 83.2% in the third quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 4,298 shares in the last quarter. Horizon Bancorp Inc. IN increased its stake in shares of Eaton by 321.7% in the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 74 shares in the last quarter. Morse Asset Management Inc acquired a new position in shares of Eaton during the 3rd quarter valued at $33,000. West Financial Advisors LLC bought a new position in Eaton during the third quarter worth $35,000. Finally, DT Investment Partners LLC acquired a new stake in Eaton in the third quarter worth $37,000. 82.97% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Eaton
In other Eaton news, insider Craig Arnold sold 61,569 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were 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 in the company, valued at $182,780,769.20. This represents a 10.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Gregory R. Page sold 4,000 shares of the business’s stock in a transaction on 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 transaction, the director now owns 51,422 shares of the company’s stock, valued at $17,241,796.60. This trade represents a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 76,981 shares of company stock valued at $27,660,117. 0.33% of the stock is currently owned by corporate insiders.
Eaton Price Performance
NYSE ETN opened at $357.45 on Wednesday. The firm’s 50-day simple moving average is $353.82 and its two-hundred day simple moving average is $330.17. The company has a market cap of $141.27 billion, a PE ratio of 38.03, a price-to-earnings-growth ratio of 2.40 and a beta of 1.06. Eaton Co. plc has a 52 week low of $239.17 and a 52 week high of $379.99. 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 (NYSE:ETN – Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The firm had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.37 billion. During the same period last year, the company earned $2.47 earnings per share. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. Research analysts predict that Eaton Co. plc will post 10.79 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of research firms have recently issued reports on ETN. Barclays increased their price objective on shares of Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. JPMorgan Chase & Co. reduced their price objective on Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. Royal Bank of Canada upped their target price on Eaton from $374.00 to $392.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Citigroup decreased their price target 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. Finally, Sanford C. Bernstein initiated coverage on shares of Eaton in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $368.89.
View Our Latest Stock Report on Eaton
Eaton Company 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
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.