3,334 Shares in Eaton Co. plc (NYSE:ETN) Purchased by Redmond Asset Management LLC

Redmond Asset Management LLC purchased a new position in shares of Eaton Co. plc (NYSE:ETN) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 3,334 shares of the industrial products company’s stock, valued at approximately $1,106,000.

A number of other large investors have also recently made changes to their positions in ETN. Foundations Investment Advisors LLC lifted its holdings in Eaton by 17.4% during the 3rd quarter. Foundations Investment Advisors LLC now owns 1,830 shares of the industrial products company’s stock valued at $607,000 after buying an additional 271 shares in the last quarter. Private Advisor Group LLC lifted its holdings in Eaton by 16.7% during the 3rd quarter. Private Advisor Group LLC now owns 38,564 shares of the industrial products company’s stock valued at $12,782,000 after buying an additional 5,508 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in Eaton by 27,075.5% during the 3rd quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company’s stock valued at $355,959,000 after buying an additional 1,070,024 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its holdings in Eaton by 11.0% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 3,351 shares of the industrial products company’s stock valued at $1,111,000 after buying an additional 332 shares in the last quarter. Finally, Moody Aldrich Partners LLC bought a new stake in Eaton during the 3rd quarter valued at about $328,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $378.58, for a total value of $534,554.96. Following 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gregory R. Page sold 10,000 shares of the stock in a transaction 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 sale, the director now directly owns 43,203 shares in the company, valued at $15,379,403.94. This trade represents a 18.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Barclays boosted their price target on shares of Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. JPMorgan Chase & Co. reduced their price target on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Bank of America boosted their price target on shares of Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Sanford C. Bernstein assumed coverage on shares of Eaton in a report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price target for the company. Finally, Citigroup reduced their price target on shares of Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a report on Monday, January 13th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Eaton has an average rating of “Moderate Buy” and a consensus price target of $366.05.

Eaton Stock Down 3.8 %

NYSE:ETN opened at $297.11 on Friday. The company has a market cap of $117.42 billion, a PE ratio of 31.27, a P/E/G ratio of 2.65 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 company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. The company’s 50 day moving average is $331.97 and its two-hundred day moving average is $332.05.

Eaton (NYSE:ETN) last released its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, beating 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 prior year, the company posted $2.55 EPS. Analysts anticipate that Eaton Co. plc will post 12.02 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.