Bill Few Associates Inc. Has $2.84 Million Position in Eaton Co. plc (NYSE:ETN)

Bill Few Associates Inc. boosted its position in Eaton Co. plc (NYSE:ETN) by 0.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,555 shares of the industrial products company’s stock after acquiring an additional 45 shares during the quarter. Bill Few Associates Inc.’s holdings in Eaton were worth $2,839,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Thrivent Financial for Lutherans grew its position in Eaton by 110.2% in the second quarter. Thrivent Financial for Lutherans now owns 57,820 shares of the industrial products company’s stock valued at $18,129,000 after acquiring an additional 30,319 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in Eaton by 60.1% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 76,594 shares of the industrial products company’s stock worth $24,016,000 after purchasing an additional 28,760 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in Eaton in the 2nd quarter valued at approximately $13,290,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Eaton during the second quarter worth $338,000. Finally, Unisphere Establishment acquired a new position in shares of Eaton during the second quarter worth $6,271,000. 82.97% of the stock is currently owned by institutional investors.

Insider Activity at Eaton

In related news, insider Craig Arnold sold 61,569 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the completion of the sale, the insider now owns 506,360 shares in the company, valued at approximately $182,780,769.20. This trade represents a 10.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Gregory R. Page sold 10,000 shares of the stock in a transaction that occurred on 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 transaction, the director now directly owns 43,203 shares of the company’s stock, valued at $15,379,403.94. This represents a 18.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 76,981 shares of company stock valued at $27,660,117. 0.53% of the stock is owned by insiders.

Eaton Stock Performance

Shares of ETN opened at $371.36 on Thursday. Eaton Co. plc has a 52 week low of $239.17 and a 52 week high of $379.99. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53. The stock has a 50 day moving average price of $353.61 and a two-hundred day moving average price of $330.74. The firm has a market capitalization of $146.76 billion, a P/E ratio of 39.51, a P/E/G ratio of 2.48 and a beta of 1.06.

Eaton (NYSE:ETN) last posted its quarterly earnings data 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. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The firm had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.37 billion. During the same period in the previous year, the firm earned $2.47 EPS. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. Equities analysts forecast that Eaton Co. plc will post 10.79 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on ETN. Evercore ISI lowered Eaton from an “outperform” rating to an “inline” rating and lifted their price target for the company from $333.00 to $389.00 in a research note on Wednesday, November 13th. Citigroup cut their price target on shares of Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Bank of America raised their target price on Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Jefferies Financial Group increased their price target on Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Finally, Sanford C. Bernstein started coverage on Eaton in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price objective on the stock. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Eaton presently has an average rating of “Moderate Buy” and a consensus target price of $368.89.

Eaton Company 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.