Eaton Co. plc (NYSE:ETN) Shares Bought by Perigon Wealth Management LLC

Perigon Wealth Management LLC boosted its position in shares of Eaton Co. plc (NYSE:ETN) by 10.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 6,754 shares of the industrial products company’s stock after acquiring an additional 643 shares during the quarter. Perigon Wealth Management LLC’s holdings in Eaton were worth $2,331,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Horizon Bancorp Inc. IN increased 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 worth $32,000 after buying an additional 74 shares during the period. Morse Asset Management Inc purchased a new position in shares of Eaton in the 3rd quarter valued at approximately $33,000. West Financial Advisors LLC purchased a new position in shares of Eaton in the 3rd quarter valued at approximately $35,000. DT Investment Partners LLC purchased a new position in shares of Eaton in the 3rd quarter valued at approximately $37,000. Finally, RPg Family Wealth Advisory LLC purchased a new position in shares of Eaton in the 3rd quarter valued at approximately $44,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Activity at Eaton

In related news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the company’s stock in a transaction 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 completion of the transaction, the insider now directly owns 31,200 shares in the company, valued at approximately $11,811,696. This represents a 4.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Gregory R. Page sold 4,000 shares of the company’s stock in a transaction on 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 completion of the transaction, the director now owns 51,422 shares of the company’s stock, valued at $17,241,796.60. The trade was 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 sold 76,981 shares of company stock worth $27,660,117. 0.53% of the stock is currently owned by insiders.

Eaton Stock Performance

NYSE ETN opened at $317.90 on Thursday. Eaton Co. plc has a fifty-two week low of $245.65 and a fifty-two week high of $379.99. The stock has a market cap of $125.63 billion, a price-to-earnings ratio of 33.82, a price-to-earnings-growth ratio of 2.57 and a beta of 1.06. The business has a fifty day moving average of $351.98 and a 200-day moving average of $331.21. 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 released its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share 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 company had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.37 billion. During the same period in the previous year, the firm posted $2.47 earnings per share. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. As a group, analysts predict that Eaton Co. plc will post 10.79 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on ETN shares. Barclays lifted their target price on Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Melius Research restated a “hold” rating and issued a $373.00 price target on shares of Eaton in a research note on Tuesday. Mizuho lifted their price target on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Sanford C. Bernstein assumed coverage on Eaton in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price target on the stock. Finally, Wells Fargo & Company decreased their price target on Eaton from $365.00 to $350.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Eaton has an average rating of “Moderate Buy” and an average target price of $369.30.

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.