Advisor Partners LLC lifted its stake in Eaton Co. PLC (NYSE:ETN) by 6.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,469 shares of the industrial products company’s stock after acquiring an additional 804 shares during the period. Advisor Partners LLC’s holdings in Eaton were worth $1,171,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in ETN. Barnett & Company Inc. raised its position in shares of Eaton by 1,372.2% in the 4th quarter. Barnett & Company Inc. now owns 265 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 247 shares in the last quarter. Northern Oak Wealth Management Inc. bought a new position in shares of Eaton in the 3rd quarter worth $33,000. Ellevest Inc. bought a new position in shares of Eaton in the 2nd quarter worth $35,000. Golden State Wealth Management LLC raised its position in shares of Eaton by 730.2% in the 3rd quarter. Golden State Wealth Management LLC now owns 440 shares of the industrial products company’s stock worth $37,000 after acquiring an additional 387 shares in the last quarter. Finally, Old North State Trust LLC raised its position in shares of Eaton by 49.1% in the 3rd quarter. Old North State Trust LLC now owns 492 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 162 shares in the last quarter. 78.20% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Michael J. Critelli sold 10,000 shares of the company’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $92.00, for a total value of $920,000.00. Following the sale, the director now owns 55,566 shares in the company, valued at $5,112,072. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Richard H. Fearon sold 34,000 shares of the company’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $90.05, for a total value of $3,061,700.00. Following the completion of the sale, the insider now owns 200,384 shares in the company, valued at approximately $18,044,579.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 60,988 shares of company stock worth $5,527,268. Company insiders own 0.70% of the company’s stock.
Eaton stock opened at $96.84 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.10 and a current ratio of 1.72. The business’s 50-day simple moving average is $94.72 and its two-hundred day simple moving average is $86.33. The company has a market cap of $40.03 billion, a PE ratio of 17.20, a PEG ratio of 1.95 and a beta of 1.43. Eaton Co. PLC has a fifty-two week low of $67.97 and a fifty-two week high of $99.82.
Eaton (NYSE:ETN) last posted its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.51 by $0.01. The business had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $5.51 billion. Eaton had a return on equity of 15.15% and a net margin of 11.06%. The company’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.43 EPS. As a group, analysts predict that Eaton Co. PLC will post 5.71 EPS for the current fiscal year.
ETN has been the subject of several recent research reports. Vertical Research lowered Eaton from a “buy” rating to a “hold” rating and set a $85.00 price target for the company. in a research report on Wednesday, October 9th. Oppenheimer assumed coverage on Eaton in a research note on Wednesday. They set a “buy” rating on the stock. Wolfe Research upgraded Eaton from a “peer perform” rating to an “outperform” rating in a research note on Thursday, January 9th. Stephens restated a “buy” rating and set a $110.00 target price on shares of Eaton in a research note on Wednesday. Finally, Credit Suisse Group restated a “buy” rating and set a $100.00 target price on shares of Eaton in a research note on Thursday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $96.56.
Eaton Corporation plc operates as a power management company worldwide. Its Electrical Products segment offers electrical and industrial components, residential products, single phase power quality products, emergency lighting and fire detection products, wiring devices, structural support systems, and circuit protection and lighting products.
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