Blue Chip Partners LLC Buys 22,554 Shares of Eaton Co. plc (NYSE:ETN)

Blue Chip Partners LLC raised its stake in shares of Eaton Co. plc (NYSE:ETN) by 84.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 49,383 shares of the industrial products company’s stock after purchasing an additional 22,554 shares during the period. Eaton accounts for 1.4% of Blue Chip Partners LLC’s portfolio, making the stock its 25th largest holding. Blue Chip Partners LLC’s holdings in Eaton were worth $16,389,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of ETN. B. Riley Wealth Advisors Inc. grew its position in shares of Eaton by 48.9% in 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 purchasing an additional 13,497 shares during the last quarter. Lighthouse Wealth Management Inc. bought a new stake in shares of Eaton in the 4th quarter worth approximately $297,000. Webster Bank N. A. increased its position in shares of 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 during the period. Ballentine Partners LLC raised its stake in shares of 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 in the last quarter. Finally, Blue Trust Inc. lifted its position in Eaton by 13.2% in the fourth quarter. Blue Trust Inc. now owns 14,494 shares of the industrial products company’s stock worth $4,804,000 after purchasing an additional 1,694 shares during the period. Institutional investors own 82.97% of the company’s stock.

Insider Transactions at Eaton

In related news, Director Gregory R. Page sold 10,000 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the transaction, the director now directly owns 43,203 shares of the company’s stock, valued at approximately $15,379,403.94. This trade represents a 18.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $378.58, for a total transaction of $534,554.96. Following the completion of the sale, the insider now directly owns 31,200 shares of the company’s stock, valued at $11,811,696. This represents a 4.33 % decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by corporate insiders.

Eaton Stock Up 0.5 %

Shares of ETN stock opened at $309.21 on Monday. Eaton Co. plc has a 52-week low of $255.65 and a 52-week 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 market cap of $122.20 billion, a price-to-earnings ratio of 32.55, a PEG ratio of 2.37 and a beta of 1.05. The firm’s 50-day moving average is $337.21 and its 200-day moving average is $331.89.

Eaton (NYSE:ETN) last posted its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, topping 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 quarter last year, the firm posted $2.55 EPS. Sell-side analysts predict that Eaton Co. plc will post 12.04 EPS for the current year.

Analyst Upgrades and Downgrades

ETN has been the topic of several analyst reports. Citigroup lowered their price target 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. Mizuho upped their target price on shares of Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. decreased their price objective on Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Barclays upped their target price 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. Finally, Bank of America raised their price objective on shares of Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus 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.