McHugh Group LLC Takes Position in Eaton Co. plc (NYSE:ETN)

McHugh Group LLC acquired a new stake in Eaton Co. plc (NYSE:ETN) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 620 shares of the industrial products company’s stock, valued at approximately $206,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Groupama Asset Managment grew its position in shares of Eaton by 83.2% during the 3rd quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock worth $31,000 after buying an additional 4,298 shares during the period. Horizon Bancorp Inc. IN raised its holdings in Eaton by 321.7% in the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 74 shares during the period. Morse Asset Management Inc bought a new position in shares of Eaton during the third quarter worth $33,000. West Financial Advisors LLC bought a new stake in shares of Eaton in the 3rd quarter valued at $35,000. Finally, DT Investment Partners LLC acquired a new stake in Eaton during the 3rd quarter worth $37,000. Institutional investors own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on ETN shares. Wells Fargo & Company dropped their price target on Eaton from $350.00 to $335.00 and set an “equal weight” rating on the stock in a research report on Monday. JPMorgan Chase & Co. cut their price target on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. Bank of America increased their price objective on shares of Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Citigroup cut their price objective on shares of Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Finally, Mizuho boosted their price target on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $369.20.

Insider Activity at Eaton

In other Eaton news, Director Gregory R. Page sold 10,000 shares of the stock in a transaction dated 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 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $378.58, for a total value of $534,554.96. Following the sale, the insider now 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 disclosure for this sale can be found here. 0.33% of the stock is owned by company insiders.

Eaton Stock Performance

Shares of ETN opened at $315.04 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. The firm has a 50-day moving average of $345.63 and a 200-day moving average of $331.17. The company has a market cap of $124.50 billion, a PE ratio of 33.16, a price-to-earnings-growth ratio of 2.27 and a beta of 1.05. Eaton Co. plc has a one year low of $255.65 and a one year high of $379.99.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share 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 in the prior year, the firm earned $2.55 EPS. As a group, equities analysts forecast that Eaton Co. plc will post 12 earnings per share 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.