Soltis Investment Advisors LLC Increases Stake in Eaton Co. plc (NYSE:ETN)

Soltis Investment Advisors LLC increased its position in shares of Eaton Co. plc (NYSE:ETN) by 10.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,322 shares of the industrial products company’s stock after buying an additional 229 shares during the period. Soltis Investment Advisors LLC’s holdings in Eaton were worth $770,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. B. Riley Wealth Advisors Inc. increased its stake in shares of 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 valued at $13,533,000 after buying an additional 13,497 shares during the period. Lighthouse Wealth Management Inc. purchased a new position in shares of Eaton during the fourth quarter valued at $297,000. Webster Bank N. A. boosted its position in Eaton by 52.4% during 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 in the last quarter. Ballentine Partners LLC boosted its position in Eaton by 9.3% during 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 in the last quarter. Finally, Blue Trust Inc. boosted its position in Eaton by 13.2% during 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 in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ETN shares. UBS Group started coverage on Eaton in a research report on Wednesday, November 13th. They set a “buy” rating and a $431.00 price objective on the stock. Barclays raised their price objective on Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Jefferies Financial Group raised their price objective on Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Royal Bank of Canada dropped their price objective on Eaton from $407.00 to $405.00 and set an “outperform” rating on the stock in a research report on Monday, February 3rd. Finally, Evercore ISI downgraded Eaton from an “outperform” rating to an “inline” rating and raised their price target for the stock from $333.00 to $389.00 in a report on Wednesday, November 13th. Six 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 stock has an average rating of “Moderate Buy” and a consensus price target of $369.20.

Insider Activity at Eaton

In related news, insider Ernest W. Marshall, Jr. sold 1,412 shares of Eaton 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 completion of the transaction, the insider now directly owns 31,200 shares in the company, valued at approximately $11,811,696. This trade represents a 4.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gregory R. Page sold 10,000 shares of Eaton stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $355.98, for a total value of $3,559,800.00. Following the transaction, the director now owns 43,203 shares of the company’s stock, valued at approximately $15,379,403.94. This represents a 18.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.53% of the stock is owned by company insiders.

Eaton Trading Up 2.2 %

Shares of NYSE:ETN opened at $319.97 on Tuesday. Eaton Co. plc has a 52-week low of $255.65 and a 52-week high of $379.99. The stock has a market cap of $126.45 billion, a price-to-earnings ratio of 33.68, a PEG ratio of 2.37 and a beta of 1.05. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. The business has a 50-day moving average price of $343.25 and a 200-day moving average price of $331.29.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, topping the consensus estimate 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 previous year, the business earned $2.55 earnings per share. Equities analysts predict that Eaton Co. plc will post 12.04 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.