Veracity Capital LLC Purchases 199 Shares of Eaton Co. plc (NYSE:ETN)

Veracity Capital LLC increased its position in Eaton Co. plc (NYSE:ETN) by 26.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 956 shares of the industrial products company’s stock after purchasing an additional 199 shares during the quarter. Veracity Capital LLC’s holdings in Eaton were worth $317,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of ETN. B. Riley Wealth Advisors Inc. boosted its position in shares of Eaton by 48.9% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 41,106 shares of the industrial products company’s stock valued at $13,533,000 after acquiring an additional 13,497 shares in the last quarter. Ballentine Partners LLC lifted its stake in Eaton by 9.3% during the fourth quarter. Ballentine Partners LLC now owns 9,256 shares of the industrial products company’s stock worth $3,072,000 after purchasing an additional 790 shares during the period. Dakota Wealth Management boosted its holdings in Eaton by 8.8% during the fourth quarter. Dakota Wealth Management now owns 49,436 shares of the industrial products company’s stock valued at $16,406,000 after purchasing an additional 4,011 shares in the last quarter. Scientech Research LLC grew its stake in shares of Eaton by 285.5% in the 2nd quarter. Scientech Research LLC now owns 5,744 shares of the industrial products company’s stock valued at $1,801,000 after purchasing an additional 4,254 shares during the period. Finally, Eastover Investment Advisors LLC acquired a new position in shares of Eaton in the 4th quarter worth approximately $6,167,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Stock Down 0.3 %

Shares of NYSE ETN opened at $368.63 on Friday. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $145.68 billion, a PE ratio of 39.22, a price-to-earnings-growth ratio of 2.57 and a beta of 1.06. The firm’s 50-day moving average is $353.77 and its 200-day moving average is $331.00. Eaton Co. plc has a 1 year low of $241.87 and a 1 year high of $379.99.

Eaton (NYSE:ETN) last released its 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. The firm had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.47 EPS. Equities analysts expect that Eaton Co. plc will post 10.79 EPS for the current year.

Wall Street Analysts Forecast Growth

ETN has been the topic of a number of analyst reports. Royal Bank of Canada upped their price target on Eaton from $374.00 to $392.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Citigroup lowered their target price on shares of Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a report on Monday, January 13th. UBS Group initiated coverage on shares of Eaton in a report on Wednesday, November 13th. They set a “buy” rating and a $431.00 price target for the company. Jefferies Financial Group upped their price objective on shares of Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Finally, JPMorgan Chase & Co. cut their target price on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $368.89.

Insider Activity at Eaton

In other news, insider Craig Arnold sold 61,569 shares of the company’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 completion of the sale, the insider now directly owns 506,360 shares of the company’s stock, valued at $182,780,769.20. This represents a 10.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $378.58, for a total transaction of $534,554.96. Following the transaction, the insider now owns 31,200 shares of the company’s stock, valued at approximately $11,811,696. This represents a 4.33 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 76,981 shares of company stock worth $27,660,117. 0.53% of the stock is owned by insiders.

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.