Y Intercept Hong Kong Ltd Invests $2.15 Million in Eaton Co. plc (NYSE:ETN)

Y Intercept Hong Kong Ltd bought a new position in shares of Eaton Co. plc (NYSE:ETN) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 6,470 shares of the industrial products company’s stock, valued at approximately $2,147,000.

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

Eaton Stock Down 2.6 %

NYSE:ETN opened at $289.68 on Tuesday. The firm has a market capitalization of $114.48 billion, a price-to-earnings ratio of 30.49, a price-to-earnings-growth ratio of 2.64 and a beta of 1.05. Eaton Co. plc has a twelve month low of $255.65 and a twelve month high of $379.99. The stock’s 50 day moving average price is $330.66 and its two-hundred day moving average price is $332.83. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share 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 quarter last year, the business posted $2.55 EPS. Equities research analysts expect that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Sanford C. Bernstein assumed coverage on Eaton in a report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 price objective on the stock. Wells Fargo & Company reiterated an “equal weight” rating on shares of Eaton in a report on Thursday, February 13th. Evercore ISI cut their price objective on Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a report on Wednesday, February 19th. Bank of America lifted their price objective on Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Barclays lifted their price objective on Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $366.05.

Insiders Place Their Bets

In other Eaton news, Director Gregory R. Page sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the transaction, the director now owns 43,203 shares of the company’s stock, valued at $15,379,403.94. The trade was a 18.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.53% of the company’s stock.

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.