Eaton Co. plc (NYSE:ETN) Shares Acquired by Avitas Wealth Management LLC

Avitas Wealth Management LLC grew its holdings in Eaton Co. plc (NYSE:ETN) by 0.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,785 shares of the industrial products company’s stock after buying an additional 200 shares during the quarter. Eaton comprises 1.3% of Avitas Wealth Management LLC’s investment portfolio, making the stock its 16th biggest holding. Avitas Wealth Management LLC’s holdings in Eaton were worth $9,553,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. B. Riley Wealth Advisors Inc. boosted its position in Eaton by 48.9% during the third quarter. B. Riley Wealth Advisors Inc. now owns 41,106 shares of the industrial products company’s stock worth $13,533,000 after purchasing an additional 13,497 shares in the last quarter. Lighthouse Wealth Management Inc. acquired a new position in Eaton in the fourth quarter valued at $297,000. Webster Bank N. A. increased its stake in Eaton by 52.4% in the fourth quarter. Webster Bank N. A. now owns 17,925 shares of the industrial products company’s stock valued at $5,949,000 after purchasing an additional 6,166 shares during the last quarter. Ballentine Partners LLC increased its stake in Eaton by 9.3% in the fourth quarter. Ballentine Partners LLC now owns 9,256 shares of the industrial products company’s stock valued at $3,072,000 after purchasing an additional 790 shares during the last quarter. Finally, Blue Trust Inc. increased its stake in Eaton by 13.2% in the fourth quarter. Blue Trust Inc. now owns 14,494 shares of the industrial products company’s stock valued at $4,804,000 after purchasing an additional 1,694 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Eaton Trading Down 0.1 %

Shares of ETN opened at $315.21 on Wednesday. The company has a market capitalization of $124.57 billion, a P/E ratio of 33.18, a P/E/G ratio of 2.27 and a beta of 1.05. Eaton Co. plc has a one year low of $255.65 and a one year high of $379.99. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. The stock has a 50-day moving average price of $348.01 and a 200 day moving average price of $331.26.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, beating analysts’ consensus estimates of $2.82 by $0.01. Eaton had a return on equity of 22.62% and a net margin of 15.25%. During the same period in the prior year, the company earned $2.55 earnings per share. Sell-side analysts forecast that Eaton Co. plc will post 12 EPS for the current fiscal year.

Insider Activity at Eaton

In other Eaton news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was 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 $11,811,696. This trade represents a 4.33 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Gregory R. Page sold 10,000 shares of the 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 transaction, 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 disclosure for this sale can be found here. 0.33% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

ETN has been the subject of several research analyst reports. Citigroup dropped their price target on Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Evercore ISI lowered Eaton from an “outperform” rating to an “inline” rating and upped their price target for the stock from $333.00 to $389.00 in a research note on Wednesday, November 13th. Jefferies Financial Group upped their price target on Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Royal Bank of Canada dropped their price target on Eaton from $407.00 to $405.00 and set an “outperform” rating for the company in a research note on Monday. Finally, Barclays upped their price target on Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Eaton presently has an average rating of “Moderate Buy” and an average price target of $369.20.

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.