Wingate Wealth Advisors Inc. Makes New $161,000 Investment in Eaton Co. plc (NYSE:ETN)

Wingate Wealth Advisors Inc. bought a new position in Eaton Co. plc (NYSE:ETN) during the 4th quarter, HoldingsChannel.com reports. The fund bought 485 shares of the industrial products company’s stock, valued at approximately $161,000.

A number of other large investors have also made changes to their positions in the company. Groupama Asset Managment raised its stake in Eaton by 83.2% during the 3rd quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 4,298 shares during the period. Horizon Bancorp Inc. IN raised its position in Eaton by 321.7% during the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after buying an additional 74 shares during the period. Morse Asset Management Inc purchased a new stake in Eaton in the 3rd quarter worth about $33,000. Activest Wealth Management grew its stake in Eaton by 621.4% during the 4th quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 87 shares in the last quarter. Finally, DT Investment Partners LLC acquired a new position in shares of Eaton in the 3rd quarter valued at about $37,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Buying and Selling

In other news, Director Gregory R. Page sold 10,000 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the completion of the transaction, the director now directly owns 43,203 shares of the company’s stock, valued at approximately $15,379,403.94. This trade represents a 18.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $378.58, for a total transaction of $534,554.96. Following the completion of the transaction, the insider now directly owns 31,200 shares of the company’s stock, valued at $11,811,696. This trade represents a 4.33 % decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on ETN. Bank of America lifted their target price on shares of Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Barclays boosted their target price on Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Evercore ISI cut 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 research note on Wednesday, November 13th. Wells Fargo & Company cut their price objective on shares of Eaton from $350.00 to $335.00 and set an “equal weight” rating on the stock in a research report on Monday, February 3rd. Finally, Melius Research reaffirmed a “hold” rating and issued a $373.00 price objective on shares of Eaton in a research note on Tuesday, January 28th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Eaton currently has a consensus rating of “Moderate Buy” and an average price target of $369.20.

Eaton Stock Performance

NYSE:ETN opened at $313.11 on Monday. The firm’s 50-day moving average is $343.25 and its 200-day moving average is $331.07. The company has a market cap of $123.74 billion, a price-to-earnings ratio of 32.96, a PEG ratio of 2.37 and a beta of 1.05. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. Eaton Co. plc has a 52-week low of $255.65 and a 52-week high of $379.99.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.82 by $0.01. Eaton had a return on equity of 22.62% and a net margin of 15.25%. During the same quarter last year, the business earned $2.55 EPS. Equities research analysts anticipate that Eaton Co. plc will post 12.04 earnings per share for the current year.

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.