Eaton Co. plc (NYSE:ETN) Position Boosted by Proquility Private Wealth Partners LLC

Proquility Private Wealth Partners LLC lifted its stake in Eaton Co. plc (NYSE:ETN) by 2.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,422 shares of the industrial products company’s stock after purchasing an additional 162 shares during the quarter. Proquility Private Wealth Partners LLC’s holdings in Eaton were worth $2,795,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. B. Riley Wealth Advisors Inc. raised its stake in shares of Eaton by 48.9% in 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 acquiring an additional 13,497 shares in the last quarter. Scientech Research LLC raised its position in shares of Eaton by 285.5% in the second quarter. Scientech Research LLC now owns 5,744 shares of the industrial products company’s stock valued at $1,801,000 after purchasing an additional 4,254 shares during the period. Eastover Investment Advisors LLC acquired a new stake in shares of Eaton in the fourth quarter worth $6,167,000. Neville Rodie & Shaw Inc. boosted its holdings in shares of Eaton by 6.8% during the 4th quarter. Neville Rodie & Shaw Inc. now owns 38,386 shares of the industrial products company’s stock worth $12,739,000 after buying an additional 2,428 shares during the period. Finally, Wolverine Asset Management LLC acquired a new position in Eaton in the 3rd quarter valued at $1,160,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Eaton

In related news, insider Craig Arnold sold 61,569 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the sale, the insider now owns 506,360 shares of the company’s stock, valued at approximately $182,780,769.20. This trade represents a 10.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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 value of $3,559,800.00. Following the sale, the director now directly owns 43,203 shares in the company, valued at approximately $15,379,403.94. This represents a 18.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 76,981 shares of company stock worth $27,660,117 in the last ninety days. Company insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Mizuho raised their price target on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Barclays upped their price target on Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Citigroup lowered their price objective on shares of Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Royal Bank of Canada upped their target price on shares of Eaton from $374.00 to $392.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Finally, Sanford C. Bernstein assumed coverage on shares of Eaton in a research report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price target on the stock. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Eaton currently has a consensus rating of “Moderate Buy” and a consensus target price of $368.89.

Eaton Trading Up 3.2 %

Shares of NYSE ETN opened at $357.45 on Wednesday. The company’s 50 day simple moving average is $353.82 and its 200 day simple moving average is $330.17. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00. Eaton Co. plc has a fifty-two week low of $239.17 and a fifty-two week high of $379.99. The firm has a market capitalization of $141.27 billion, a P/E ratio of 38.03, a P/E/G ratio of 2.40 and a beta of 1.06.

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