Sigma Investment Counselors Inc. Has $3.05 Million Stock Position in Eaton Co. plc (NYSE:ETN)

Sigma Investment Counselors Inc. grew its stake in shares of Eaton Co. plc (NYSE:ETN) by 468.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,195 shares of the industrial products company’s stock after buying an additional 7,578 shares during the quarter. Sigma Investment Counselors Inc.’s holdings in Eaton were worth $3,052,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. MONECO Advisors LLC raised its position in Eaton by 8.6% in the fourth quarter. MONECO Advisors LLC now owns 2,531 shares of the industrial products company’s stock valued at $840,000 after purchasing an additional 201 shares during the last quarter. Pekin Hardy Strauss Inc. increased its stake in shares of Eaton by 5.3% in the fourth quarter. Pekin Hardy Strauss Inc. now owns 10,520 shares of the industrial products company’s stock valued at $3,491,000 after buying an additional 525 shares during the period. Howard Capital Management Inc. raised its holdings in Eaton by 8.1% in the 4th quarter. Howard Capital Management Inc. now owns 2,525 shares of the industrial products company’s stock valued at $838,000 after buying an additional 189 shares during the last quarter. Wealthspire Advisors LLC boosted its position in Eaton by 3.1% during the 4th quarter. Wealthspire Advisors LLC now owns 8,724 shares of the industrial products company’s stock worth $2,895,000 after buying an additional 261 shares during the period. Finally, Callan Capital LLC grew its holdings in Eaton by 26.9% during the 4th quarter. Callan Capital LLC now owns 1,552 shares of the industrial products company’s stock worth $515,000 after acquiring an additional 329 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ETN has been the subject of several analyst reports. Melius Research reaffirmed a “hold” rating and set a $373.00 price target on shares of Eaton in a research note on Tuesday, January 28th. Sanford C. Bernstein assumed coverage on Eaton in a report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 target price on the stock. Evercore ISI reduced their price target on Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a research report on Wednesday. Citigroup lowered their price objective on Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Finally, Wells Fargo & Company reiterated an “equal weight” rating on shares of Eaton in a report on Thursday, February 13th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $366.05.

Eaton Stock Performance

Shares of Eaton stock opened at $297.11 on Friday. The business has a 50-day simple moving average of $331.97 and a 200 day simple moving average of $332.43. The firm has a market capitalization of $117.42 billion, a price-to-earnings ratio of 31.27, a PEG ratio of 2.64 and a beta of 1.05. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. Eaton Co. plc has a one year low of $255.65 and a one year high of $379.99.

Eaton (NYSE:ETN) last issued 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 business earned $2.55 EPS. On average, research analysts anticipate that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Insider Transactions at Eaton

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 completion of the sale, the director now directly owns 43,203 shares of the company’s stock, valued at approximately $15,379,403.94. The trade was a 18.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 31,200 shares in the company, 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 insiders.

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.