Foundations Investment Advisors LLC Purchases 1,933 Shares of Eaton Co. plc (NYSE:ETN)

Foundations Investment Advisors LLC raised its position in Eaton Co. plc (NYSE:ETN) by 105.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,763 shares of the industrial products company’s stock after purchasing an additional 1,933 shares during the period. Foundations Investment Advisors LLC’s holdings in Eaton were worth $1,249,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. Groupama Asset Managment lifted its holdings in Eaton by 83.2% during the third quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 4,298 shares in the last quarter. Horizon Bancorp Inc. IN raised its position in shares of Eaton by 321.7% during the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 74 shares during the period. Morse Asset Management Inc bought a new position in shares of Eaton during the 3rd quarter valued at about $33,000. West Financial Advisors LLC acquired a new position in shares of Eaton in the 3rd quarter valued at approximately $35,000. Finally, DT Investment Partners LLC bought a new stake in Eaton during the 3rd quarter worth approximately $37,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ETN has been the subject of several research analyst reports. Melius cut shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 price target for the company. in a report on Tuesday. Sanford C. Bernstein began coverage on Eaton in a report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 target price for the company. Evercore ISI lowered Eaton from an “outperform” rating to an “inline” rating and boosted their price target for the company from $333.00 to $389.00 in a report on Wednesday, November 13th. Jefferies Financial Group increased their price objective on Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Finally, Bank of America boosted their target price on Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $369.30.

Eaton Stock Up 0.2 %

ETN stock opened at $312.26 on Wednesday. The business’s 50 day simple moving average is $353.01 and its 200 day simple moving average is $331.34. Eaton Co. plc has a 1-year low of $244.35 and a 1-year high of $379.99. The firm has a market capitalization of $123.41 billion, a PE ratio of 33.22, a PEG ratio of 2.57 and a beta of 1.06. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share 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 company’s revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the firm earned $2.47 earnings per share. As a group, research analysts anticipate that Eaton Co. plc will post 10.79 EPS for the current year.

Insider Activity

In other Eaton news, Director Gregory R. Page sold 4,000 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the transaction, the director now owns 51,422 shares in the company, 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 SEC, which is available at this hyperlink. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the business’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 owns 31,200 shares of the company’s stock, valued at approximately $11,811,696. This trade represents a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 76,981 shares of company stock valued at $27,660,117. 0.53% of the stock is owned by 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.