New York Life Investment Management LLC Buys 36 Shares of Eaton Co. plc (NYSE:ETN)

New York Life Investment Management LLC grew its position in shares of Eaton Co. plc (NYSE:ETN) by 0.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 53,047 shares of the industrial products company’s stock after acquiring an additional 36 shares during the quarter. New York Life Investment Management LLC’s holdings in Eaton were worth $17,605,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of ETN. Nwam LLC increased its position in Eaton by 0.6% during the fourth quarter. Nwam LLC now owns 5,314 shares of the industrial products company’s stock worth $1,764,000 after buying an additional 34 shares during the last quarter. Cable Hill Partners LLC lifted its position in shares of Eaton by 47.2% during the 4th quarter. Cable Hill Partners LLC now owns 936 shares of the industrial products company’s stock valued at $311,000 after acquiring an additional 300 shares during the period. Whipplewood Advisors LLC acquired a new stake in Eaton during the fourth quarter worth about $135,000. Simmons Bank increased its stake in Eaton by 2.4% in the fourth quarter. Simmons Bank now owns 7,870 shares of the industrial products company’s stock valued at $2,612,000 after acquiring an additional 188 shares during the last quarter. Finally, Lake Street Advisors Group LLC raised its holdings in shares of Eaton by 143.0% during the 4th quarter. Lake Street Advisors Group LLC now owns 22,382 shares of the industrial products company’s stock worth $7,428,000 after buying an additional 13,172 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Insider Activity at Eaton

In other news, Director Gregory R. Page sold 10,000 shares of the stock in a transaction dated 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.33% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have commented on ETN shares. Melius Research reiterated a “hold” rating and issued a $373.00 target price on shares of Eaton in a research report on Tuesday, January 28th. Bank of America lifted their price objective on Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. UBS Group assumed coverage on shares of Eaton in a research note on Wednesday, November 13th. They set a “buy” rating and a $431.00 target price on the stock. Evercore ISI reduced their price objective on Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a research note on Wednesday, February 19th. Finally, Mizuho boosted their price objective on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $366.05.

Eaton Stock Performance

NYSE:ETN opened at $297.28 on Thursday. The business has a fifty day simple moving average of $328.71 and a two-hundred day simple moving average of $332.55. Eaton Co. plc has a 1 year low of $255.65 and a 1 year high of $379.99. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. The company has a market capitalization of $117.48 billion, a P/E ratio of 31.29, a P/E/G ratio of 2.64 and a beta of 1.05.

Eaton (NYSE:ETN) last posted its earnings results 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 net margin of 15.25% and a return on equity of 22.62%. During the same period in the previous year, the firm posted $2.55 EPS. On average, analysts expect that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton 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.