McAdam LLC Buys New Position in Eaton Co. plc (NYSE:ETN)

McAdam LLC purchased a new position in shares of Eaton Co. plc (NYSE:ETN) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 882 shares of the industrial products company’s stock, valued at approximately $293,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Horizon Bancorp Inc. IN lifted its holdings in Eaton by 321.7% during the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock worth $32,000 after buying an additional 74 shares in the last quarter. Morse Asset Management Inc acquired a new stake in shares of Eaton in the third quarter valued at $33,000. West Financial Advisors LLC purchased a new position in Eaton in the third quarter valued at $35,000. DT Investment Partners LLC acquired a new position in Eaton during the 3rd quarter worth $37,000. Finally, RPg Family Wealth Advisory LLC purchased a new stake in Eaton during the 3rd quarter worth about $44,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insiders Place Their Bets

In other 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 position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Gregory R. Page sold 10,000 shares of Eaton stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $355.98, for a total value of $3,559,800.00. Following the completion of the sale, the director now owns 43,203 shares in the company, valued at approximately $15,379,403.94. This trade represents a 18.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 72,981 shares of company stock worth $26,318,917. 0.53% of the stock is owned by insiders.

Eaton Stock Performance

NYSE ETN opened at $326.32 on Monday. The firm has a market cap of $128.96 billion, a P/E ratio of 34.72, a P/E/G ratio of 2.21 and a beta of 1.06. Eaton Co. plc has a 52-week low of $245.65 and a 52-week high of $379.99. The business’s 50-day moving average price is $349.23 and its 200 day moving average price is $331.07. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45.

Eaton (NYSE:ETN) last released its 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 return on equity of 21.97% and a net margin of 15.32%. During the same period last year, the company earned $2.55 EPS. On average, equities research analysts expect that Eaton Co. plc will post 10.79 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Mizuho upped their target price on shares of Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. UBS Group started coverage on shares of Eaton in a research report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 price objective on the stock. Melius cut shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 price objective for the company. in a research report on Tuesday, January 28th. Barclays increased their target price on Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Finally, Wells Fargo & Company lowered their price objective on Eaton from $365.00 to $350.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $369.30.

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.