McHugh Group LLC Purchases Shares of 620 Eaton Co. plc (NYSE:ETN)

McHugh Group LLC acquired a new position in Eaton Co. plc (NYSE:ETN) during the 4th quarter, HoldingsChannel reports. The fund acquired 620 shares of the industrial products company’s stock, valued at approximately $206,000.

A number of other institutional investors and hedge funds have also bought and sold shares of ETN. B. Riley Wealth Advisors Inc. raised its position in shares of Eaton by 48.9% during the third quarter. B. Riley Wealth Advisors Inc. now owns 41,106 shares of the industrial products company’s stock worth $13,533,000 after acquiring an additional 13,497 shares during the last quarter. Lighthouse Wealth Management Inc. bought a new position in Eaton during the 4th quarter worth approximately $297,000. Webster Bank N. A. boosted its stake in shares of Eaton by 52.4% in the 4th quarter. Webster Bank N. A. now owns 17,925 shares of the industrial products company’s stock valued at $5,949,000 after purchasing an additional 6,166 shares during the last quarter. Ballentine Partners LLC boosted its position in Eaton by 9.3% during the fourth quarter. Ballentine Partners LLC now owns 9,256 shares of the industrial products company’s stock valued at $3,072,000 after acquiring an additional 790 shares during the last quarter. Finally, Blue Trust Inc. grew its holdings in Eaton by 13.2% during the 4th quarter. Blue Trust Inc. now owns 14,494 shares of the industrial products company’s stock worth $4,804,000 after acquiring an additional 1,694 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Eaton Trading Up 0.1 %

Shares of Eaton stock opened at $315.04 on Thursday. The company’s 50-day moving average price is $345.63 and its 200-day moving average price is $331.17. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. Eaton Co. plc has a 12-month low of $255.65 and a 12-month high of $379.99. The company has a market cap of $124.50 billion, a price-to-earnings ratio of 33.16, a PEG ratio of 2.27 and a beta of 1.05.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, topping the consensus estimate of $2.82 by $0.01. Eaton had a net margin of 15.25% and a return on equity of 22.62%. During the same quarter in the prior year, the firm earned $2.55 EPS. On average, equities analysts expect that Eaton Co. plc will post 12 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently commented on ETN. Wells Fargo & Company cut their target price on Eaton from $350.00 to $335.00 and set an “equal weight” rating on the stock in a research report on Monday. JPMorgan Chase & Co. reduced their price objective on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research report on Wednesday, January 15th. Jefferies Financial Group boosted their target price on shares of Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Citigroup reduced their price target on shares of Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a report on Monday, January 13th. 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 report on Wednesday, November 13th. Six investment 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 company presently has an average rating of “Moderate Buy” and a consensus target price of $369.20.

Insider Buying and Selling at Eaton

In other Eaton news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $378.58, for a total transaction of $534,554.96. Following the completion of the sale, the insider now owns 31,200 shares of the company’s stock, valued at $11,811,696. This represents a 4.33 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Gregory R. Page sold 10,000 shares of the firm’s stock in a transaction 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 in the company, valued at approximately $15,379,403.94. This trade represents a 18.80 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.

Eaton 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.