Golden State Equity Partners Has $465,000 Stake in Eaton Co. plc (NYSE:ETN)

Golden State Equity Partners grew its stake in Eaton Co. plc (NYSE:ETN) by 125.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,402 shares of the industrial products company’s stock after buying an additional 780 shares during the period. Golden State Equity Partners’ holdings in Eaton were worth $465,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in ETN. Spire Wealth Management lifted its stake in shares of Eaton by 0.5% in the fourth quarter. Spire Wealth Management now owns 10,624 shares of the industrial products company’s stock worth $3,526,000 after buying an additional 48 shares during the last quarter. SYM FINANCIAL Corp raised its holdings in Eaton by 14.8% in the 4th quarter. SYM FINANCIAL Corp now owns 775 shares of the industrial products company’s stock worth $257,000 after acquiring an additional 100 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. lifted its position in Eaton by 33.0% during the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 931 shares of the industrial products company’s stock worth $309,000 after acquiring an additional 231 shares during the last quarter. Independence Bank of Kentucky boosted its holdings in Eaton by 27.5% during the fourth quarter. Independence Bank of Kentucky now owns 6,167 shares of the industrial products company’s stock valued at $2,047,000 after acquiring an additional 1,330 shares during the period. Finally, SeaBridge Investment Advisors LLC acquired a new stake in shares of Eaton in the fourth quarter valued at about $294,000. Institutional investors own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

ETN has been the topic of a number of research analyst reports. Melius Research reaffirmed a “hold” rating and issued a $373.00 target price on shares of Eaton in a report on Tuesday, January 28th. Jefferies Financial Group boosted their target price on shares of Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Bank of America increased their price target on shares of Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Citigroup dropped their price objective 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. Finally, Sanford C. Bernstein started coverage on shares of Eaton in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 target price for the company. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Eaton presently has an average rating of “Moderate Buy” and an average price target of $369.20.

Insider Activity at Eaton

In other Eaton news, insider Ernest W. Marshall, Jr. sold 1,412 shares of Eaton stock in a transaction on Monday, November 25th. The shares were sold at an average price of $378.58, for a total transaction of $534,554.96. Following the completion of the sale, the insider now owns 31,200 shares of the company’s stock, valued at approximately $11,811,696. The trade was a 4.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gregory R. Page sold 10,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now owns 43,203 shares in the company, 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. Insiders sold 72,981 shares of company stock valued at $26,318,917 over the last ninety days. 0.53% of the stock is owned by insiders.

Eaton Price Performance

NYSE:ETN opened at $315.74 on Tuesday. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. The firm has a market cap of $124.78 billion, a PE ratio of 33.24, a price-to-earnings-growth ratio of 2.27 and a beta of 1.06. Eaton Co. plc has a 12 month low of $255.65 and a 12 month high of $379.99. The company’s 50-day moving average price is $349.23 and its two-hundred day moving average price is $331.21.

Eaton (NYSE:ETN) last released its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, topping analysts’ consensus estimates of $2.82 by $0.01. Eaton had a return on equity of 22.62% and a net margin of 15.25%. During the same quarter last year, the firm posted $2.55 EPS. On average, equities analysts anticipate that Eaton Co. plc will post 12 EPS for the current fiscal year.

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.