Mutual Advisors LLC Acquires 246 Shares of Eaton Co. plc (NYSE:ETN)

Mutual Advisors LLC raised its holdings in shares of Eaton Co. plc (NYSE:ETN) by 3.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,629 shares of the industrial products company’s stock after acquiring an additional 246 shares during the quarter. Mutual Advisors LLC’s holdings in Eaton were worth $2,288,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in ETN. Horizon Bancorp Inc. IN raised its stake in shares of Eaton by 321.7% during the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 74 shares during the period. Morse Asset Management Inc bought a new stake in shares of Eaton during the third quarter valued at about $33,000. West Financial Advisors LLC purchased a new stake in shares of Eaton in the third quarter worth about $35,000. DT Investment Partners LLC bought a new position in Eaton in the 3rd quarter valued at $37,000. Finally, RPg Family Wealth Advisory LLC purchased a new stake in shares of Eaton in the third quarter worth $44,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling

In other news, Director Gregory R. Page sold 10,000 shares of Eaton stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $355.98, for a total value of $3,559,800.00. Following the sale, the director now directly owns 43,203 shares in the company, valued at approximately $15,379,403.94. This trade represents a 18.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Craig Arnold sold 61,569 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider now owns 506,360 shares of the company’s stock, valued at approximately $182,780,769.20. This represents a 10.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 76,981 shares of company stock valued at $27,660,117 over the last ninety days. 0.53% of the stock is owned by insiders.

Eaton Stock Performance

Shares of ETN stock opened at $369.58 on Friday. The company has a market capitalization of $146.06 billion, a P/E ratio of 39.32, a PEG ratio of 2.48 and a beta of 1.06. Eaton Co. plc has a fifty-two week low of $241.45 and a fifty-two week high of $379.99. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53. The stock has a 50 day moving average price of $353.61 and a two-hundred day moving average price of $330.74.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.80 by $0.04. The company had revenue of $6.35 billion during 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% compared to the same quarter last year. During the same period in the prior year, the business posted $2.47 EPS. Analysts expect that Eaton Co. plc will post 10.79 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on ETN shares. Royal Bank of Canada upped their target price on Eaton from $374.00 to $392.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Sanford C. Bernstein began coverage on shares of Eaton in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 target price on the stock. Citigroup decreased their price target on shares of Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Wells Fargo & Company dropped their price objective on shares of Eaton from $365.00 to $350.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Finally, Mizuho increased their target price on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.