Teamwork Financial Advisors LLC Buys Shares of 5,184 Eaton Co. plc (NYSE:ETN)

Teamwork Financial Advisors LLC acquired a new stake in Eaton Co. plc (NYSE:ETN) in the fourth quarter, Holdings Channel.com reports. The fund acquired 5,184 shares of the industrial products company’s stock, valued at approximately $1,720,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC boosted its holdings in Eaton by 0.7% in the third quarter. Geode Capital Management LLC now owns 8,069,341 shares of the industrial products company’s stock valued at $2,665,342,000 after purchasing an additional 56,516 shares during the period. Legal & General Group Plc grew its holdings in Eaton by 0.6% during the 2nd quarter. Legal & General Group Plc now owns 3,206,251 shares of the industrial products company’s stock worth $1,005,317,000 after acquiring an additional 18,077 shares in the last quarter. Franklin Resources Inc. grew its holdings in Eaton by 15.1% during the 3rd quarter. Franklin Resources Inc. now owns 2,421,626 shares of the industrial products company’s stock worth $836,938,000 after acquiring an additional 316,830 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of Eaton by 32.8% in the 3rd quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company’s stock valued at $801,798,000 after purchasing an additional 597,700 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Eaton by 253.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,273,685 shares of the industrial products company’s stock worth $753,590,000 after purchasing an additional 1,629,856 shares during the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Eaton Stock Up 3.8 %

Eaton stock opened at $371.36 on Thursday. The stock’s 50 day moving average price is $353.61 and its 200 day moving average price is $330.74. Eaton Co. plc has a 1-year low of $239.17 and a 1-year high of $379.99. The company has a market cap of $146.76 billion, a PE ratio of 39.51, a price-to-earnings-growth ratio of 2.48 and a beta of 1.06. 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 (NYSE:ETN) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. The business had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the prior year, the company posted $2.47 EPS. On average, sell-side analysts predict that Eaton Co. plc will post 10.79 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ETN has been the topic of a number of recent analyst reports. Sanford C. Bernstein initiated coverage on Eaton in a report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price objective on the stock. Bank of America raised their price objective on shares of Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Citigroup dropped their target price 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. Royal Bank of Canada boosted their price target on shares of Eaton from $374.00 to $392.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Finally, JPMorgan Chase & Co. dropped their price objective on Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $368.89.

Insider Transactions at Eaton

In related news, insider Craig Arnold sold 61,569 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total value of $22,224,561.93. Following the sale, the insider now directly owns 506,360 shares in the company, valued at $182,780,769.20. The trade was a 10.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gregory R. Page sold 4,000 shares of Eaton stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the transaction, the director now owns 51,422 shares of the company’s stock, valued at approximately $17,241,796.60. The trade was a 7.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 76,981 shares of company stock valued at $27,660,117 in the last quarter. 0.53% of the stock is currently owned by corporate insiders.

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.