World Equity Group Inc. Buys 85 Shares of Eaton Co. plc (NYSE:ETN)

World Equity Group Inc. lifted its stake in Eaton Co. plc (NYSE:ETN) by 3.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,695 shares of the industrial products company’s stock after acquiring an additional 85 shares during the quarter. World Equity Group Inc.’s holdings in Eaton were worth $894,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Activity at Eaton

In other Eaton news, insider Ernest W. Marshall, Jr. sold 1,412 shares of Eaton 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 transaction, the insider now directly owns 31,200 shares of the company’s stock, valued at $11,811,696. The trade was a 4.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gregory R. Page sold 10,000 shares of the firm’s stock in a transaction dated 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 owns 43,203 shares of the company’s stock, valued at $15,379,403.94. This trade represents a 18.80 % decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is owned by insiders.

Eaton Stock Performance

NYSE ETN opened at $297.11 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. Eaton Co. plc has a 1-year low of $255.65 and a 1-year high of $379.99. The business has a 50 day simple moving average of $331.97 and a two-hundred day simple moving average of $332.43. The stock has a market capitalization of $117.42 billion, a PE ratio of 31.27, a P/E/G ratio of 2.64 and a beta of 1.05.

Eaton (NYSE:ETN) last released its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business earned $2.55 EPS. On average, research analysts predict that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Analyst Ratings Changes

ETN has been the topic of a number of research reports. Bank of America raised their price objective on shares of Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Evercore ISI cut their price objective on shares of Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a research report on Wednesday. UBS Group started coverage on Eaton in a report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 target price on the stock. JPMorgan Chase & Co. cut their price target on Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Finally, Citigroup decreased their price objective on Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Seven equities 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, Eaton currently has an average rating of “Moderate Buy” and a consensus price target of $366.05.

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.