Exchange Traded Concepts LLC Buys 6,120 Shares of Eaton Co. plc (NYSE:ETN)

Exchange Traded Concepts LLC grew its position in shares of Eaton Co. plc (NYSE:ETN) by 120.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 11,204 shares of the industrial products company’s stock after acquiring an additional 6,120 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Eaton were worth $3,718,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Horizon Bancorp Inc. IN boosted its holdings in shares of Eaton by 321.7% in the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock worth $32,000 after buying an additional 74 shares during the last quarter. Morse Asset Management Inc purchased a new position in shares of Eaton in the third quarter valued at about $33,000. West Financial Advisors LLC bought a new position in Eaton in the 3rd quarter worth approximately $35,000. DT Investment Partners LLC purchased a new position in Eaton during the third quarter valued at $37,000. Finally, RPg Family Wealth Advisory LLC bought a new position in shares of Eaton during the 3rd quarter valued at about $44,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on ETN. Barclays increased their target price on Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Mizuho boosted their target price on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. lowered their price target on Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research report on Wednesday, January 15th. UBS Group began coverage on shares of Eaton in a research note on Wednesday, November 13th. They issued a “buy” rating and a $431.00 target price on the stock. Finally, Sanford C. Bernstein began coverage on shares of Eaton in a research note on Tuesday, November 5th. They set an “outperform” rating and a $382.00 price target for the company. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $368.89.

Eaton Trading Down 0.3 %

NYSE ETN opened at $368.63 on Friday. The company’s 50-day simple moving average is $353.96 and its two-hundred day simple moving average is $331.35. Eaton Co. plc has a one year low of $241.87 and a one year high of $379.99. The company has a market capitalization of $145.68 billion, a price-to-earnings ratio of 39.22, a price-to-earnings-growth ratio of 2.57 and a beta of 1.06. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53.

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

Insider Activity at Eaton

In other Eaton news, 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 sale, the insider now directly owns 31,200 shares in the company, valued at $11,811,696. This trade represents a 4.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Craig Arnold sold 61,569 shares of the stock in a transaction 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 sale, 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 a total of 76,981 shares of company stock valued at $27,660,117 over the last quarter. 0.53% of the stock is owned by corporate insiders.

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.