Beacon Investment Advisory Services Inc. Acquires 498 Shares of Eaton Co. plc (NYSE:ETN)

Beacon Investment Advisory Services Inc. grew its holdings in Eaton Co. plc (NYSE:ETN) by 1.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 46,826 shares of the industrial products company’s stock after acquiring an additional 498 shares during the period. Beacon Investment Advisory Services Inc.’s holdings in Eaton were worth $15,540,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Strategic Wealth Partners Ltd. increased its holdings in shares of Eaton by 3.0% in the third quarter. Strategic Wealth Partners Ltd. now owns 1,027 shares of the industrial products company’s stock valued at $340,000 after purchasing an additional 30 shares during the last quarter. Fairfield Financial Advisors LTD boosted its holdings in shares of Eaton by 16.2% during the 3rd quarter. Fairfield Financial Advisors LTD now owns 215 shares of the industrial products company’s stock worth $71,000 after buying an additional 30 shares during the period. Westmount Partners LLC raised its holdings in Eaton by 3.1% in the 4th quarter. Westmount Partners LLC now owns 985 shares of the industrial products company’s stock valued at $327,000 after acquiring an additional 30 shares during the period. Signal Advisors Wealth LLC lifted its position in Eaton by 3.5% during the fourth quarter. Signal Advisors Wealth LLC now owns 896 shares of the industrial products company’s stock worth $297,000 after acquiring an additional 30 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its holdings in shares of Eaton by 2.1% during the third quarter. Venturi Wealth Management LLC now owns 1,549 shares of the industrial products company’s stock worth $513,000 after acquiring an additional 32 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Eaton Stock Performance

NYSE:ETN opened at $371.36 on Thursday. Eaton Co. plc has a twelve month low of $239.17 and a twelve month high of $379.99. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. The stock’s 50-day simple moving average is $353.61 and its 200 day simple moving average is $330.74. The firm has a market capitalization of $146.76 billion, a PE ratio of 39.51, a price-to-earnings-growth ratio of 2.48 and a beta of 1.06.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.80 by $0.04. The company had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The firm’s revenue was up 7.9% on a year-over-year basis. During the same period in the previous year, the firm posted $2.47 EPS. On average, analysts anticipate that Eaton Co. plc will post 10.79 EPS for the current fiscal year.

Insider Transactions at Eaton

In other Eaton news, Director Gregory R. Page sold 4,000 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $335.30, for a total value of $1,341,200.00. Following the completion of the transaction, the director now owns 51,422 shares of the company’s stock, valued at $17,241,796.60. This represents a 7.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Craig Arnold sold 61,569 shares of Eaton stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total value of $22,224,561.93. Following the sale, the insider now directly owns 506,360 shares in the company, valued at $182,780,769.20. The trade was a 10.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 76,981 shares of company stock worth $27,660,117. Corporate insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ETN. UBS Group started coverage on Eaton in a research note on Wednesday, November 13th. They issued a “buy” rating and a $431.00 price target for the company. Mizuho upped their price target 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. Bank of America raised their price target on shares of Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Barclays boosted their price objective 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. Finally, Sanford C. Bernstein initiated coverage on shares of Eaton in a report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 target price on the stock. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Eaton presently has a consensus rating of “Moderate Buy” and an average target price of $368.89.

About Eaton

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.