Beacon Investment Advisory Services Inc. Has $15.54 Million Stock Holdings in Eaton Co. plc (NYSE:ETN)

Beacon Investment Advisory Services Inc. boosted its holdings in Eaton Co. plc (NYSE:ETN) by 1.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 46,826 shares of the industrial products company’s stock after acquiring an additional 498 shares during the quarter. Beacon Investment Advisory Services Inc.’s holdings in Eaton were worth $15,540,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Bill Few Associates Inc. increased its position in shares of Eaton by 0.5% during the 4th quarter. Bill Few Associates Inc. now owns 8,555 shares of the industrial products company’s stock worth $2,839,000 after purchasing an additional 45 shares in the last quarter. Teamwork Financial Advisors LLC bought a new position in Eaton in the 4th quarter valued at $1,720,000. Mutual Advisors LLC grew its holdings in shares of Eaton by 3.9% during the fourth quarter. Mutual Advisors LLC now owns 6,629 shares of the industrial products company’s stock worth $2,288,000 after purchasing an additional 246 shares during the last quarter. Traynor Capital Management Inc. increased its stake in shares of Eaton by 11.1% in the fourth quarter. Traynor Capital Management Inc. now owns 821 shares of the industrial products company’s stock valued at $273,000 after buying an additional 82 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its holdings in shares of Eaton by 8.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 455,344 shares of the industrial products company’s stock valued at $151,115,000 after buying an additional 33,551 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Wells Fargo & Company lowered their price objective on shares of Eaton from $365.00 to $350.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Sanford C. Bernstein initiated coverage on Eaton in a research report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price objective for the company. Jefferies Financial Group upped 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. UBS Group initiated coverage on shares of Eaton in a research report on Wednesday, November 13th. They set a “buy” rating and a $431.00 price target for the company. Finally, Royal Bank of Canada increased their price objective on shares of Eaton from $374.00 to $392.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Four 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.com, Eaton presently has an average rating of “Moderate Buy” and an average target price of $368.89.

Eaton Stock Up 3.8 %

Eaton stock opened at $371.36 on Thursday. Eaton Co. plc has a twelve month low of $239.17 and a twelve month high of $379.99. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. The company has a 50 day moving average of $353.61 and a 200-day moving average of $330.74. The stock has a market capitalization of $146.76 billion, a PE ratio of 39.51, a price-to-earnings-growth ratio of 2.48 and a beta of 1.06.

Eaton (NYSE:ETN) last released its earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. The firm had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The company’s revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.47 EPS. On average, equities research analysts anticipate that Eaton Co. plc will post 10.79 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the stock in a transaction that occurred on 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 approximately $11,811,696. This represents a 4.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gregory R. Page sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $355.98, for a total value of $3,559,800.00. Following the transaction, the director now directly owns 43,203 shares in the company, 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. Insiders sold a total of 76,981 shares of company stock valued at $27,660,117 in the last quarter. 0.53% of the stock is currently owned by insiders.

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.