Eaton Co. plc (NYSE:ETN) Holdings Raised by Gradient Investments LLC

Gradient Investments LLC grew its stake in shares of Eaton Co. plc (NYSE:ETN) by 9.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 53,782 shares of the industrial products company’s stock after acquiring an additional 4,803 shares during the period. Gradient Investments LLC’s holdings in Eaton were worth $17,849,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Groupama Asset Managment raised its stake in shares of Eaton by 83.2% during the 3rd 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 raised its position in Eaton by 321.7% during the fourth 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 stake in Eaton in the third quarter valued at approximately $33,000. West Financial Advisors LLC acquired a new position in shares of Eaton during the 3rd quarter worth $35,000. Finally, DT Investment Partners LLC bought a new position in shares of Eaton during the 3rd quarter valued at $37,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Eaton

In other news, Director Gregory R. Page sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $355.98, for a total value of $3,559,800.00. Following the sale, the director now directly owns 43,203 shares in the company, valued at approximately $15,379,403.94. This represents a 18.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $378.58, for a total value of $534,554.96. Following the transaction, the insider now owns 31,200 shares of the company’s stock, valued at $11,811,696. This trade represents a 4.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 76,981 shares of company stock valued at $27,660,117 over the last quarter. 0.53% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on ETN shares. Mizuho increased their target price on shares of Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Jefferies Financial Group increased their price objective on Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a report on Friday, December 6th. Wells Fargo & Company decreased their target price on Eaton from $365.00 to $350.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Bank of America lifted their price target on shares of Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, Barclays upped their price objective on shares of Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $368.89.

Eaton Trading Down 0.3 %

Eaton stock opened at $368.63 on Friday. Eaton Co. plc has a 12 month low of $241.87 and a 12 month high of $379.99. The stock has a market cap of $145.68 billion, a price-to-earnings ratio of 39.22, a price-to-earnings-growth ratio of 2.57 and a beta of 1.06. The business has a 50 day moving average price of $353.77 and a two-hundred day moving average price of $331.00. 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) last issued its earnings results on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $6.37 billion. During the same period last year, the business earned $2.47 earnings per share. Eaton’s quarterly revenue was up 7.9% compared to the same quarter last year. As a group, equities analysts forecast that Eaton Co. plc will post 10.79 EPS for the current year.

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.