Eaton Co. plc (NYSE:ETN) Position Increased by Great Diamond Partners LLC

Great Diamond Partners LLC raised its position in Eaton Co. plc (NYSE:ETN) by 1.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 9,870 shares of the industrial products company’s stock after buying an additional 175 shares during the quarter. Great Diamond Partners LLC’s holdings in Eaton were worth $3,276,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ETN. Wetzel Investment Advisors Inc. increased its position in Eaton by 0.9% during the fourth quarter. Wetzel Investment Advisors Inc. now owns 3,101 shares of the industrial products company’s stock worth $1,029,000 after buying an additional 28 shares during the last quarter. Strategic Wealth Partners Ltd. increased its holdings in shares of Eaton by 3.0% during the 3rd quarter. Strategic Wealth Partners Ltd. now owns 1,027 shares of the industrial products company’s stock valued at $340,000 after acquiring an additional 30 shares during the last quarter. Fairfield Financial Advisors LTD raised its stake in shares of Eaton by 16.2% in the 3rd quarter. Fairfield Financial Advisors LTD now owns 215 shares of the industrial products company’s stock valued at $71,000 after acquiring an additional 30 shares in the last quarter. Westmount Partners LLC lifted its holdings in Eaton by 3.1% in the 4th quarter. Westmount Partners LLC now owns 985 shares of the industrial products company’s stock worth $327,000 after purchasing an additional 30 shares during the last quarter. Finally, Signal Advisors Wealth LLC boosted its position in Eaton by 3.5% during the fourth quarter. Signal Advisors Wealth LLC now owns 896 shares of the industrial products company’s stock worth $297,000 after purchasing an additional 30 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on ETN shares. Citigroup reduced their price objective on shares of Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a research note on Monday, January 13th. UBS Group started coverage on shares of Eaton in a research report on Wednesday, November 13th. They set a “buy” rating and a $431.00 target price for the company. Barclays raised their price target on Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Evercore ISI cut Eaton from an “outperform” rating to an “inline” rating and boosted their price objective for the stock from $333.00 to $389.00 in a research report on Wednesday, November 13th. Finally, Royal Bank of Canada raised their target price on Eaton from $374.00 to $392.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $369.30.

Insider Activity at Eaton

In other news, 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 sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 transaction of $534,554.96. Following the completion of the transaction, the insider now owns 31,200 shares of the company’s stock, valued at $11,811,696. This trade represents a 4.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 72,981 shares of company stock valued at $26,318,917 in the last three months. Corporate insiders own 0.53% of the company’s stock.

Eaton Trading Down 0.2 %

ETN stock opened at $326.32 on Friday. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. 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 1-year low of $245.65 and a 1-year high of $379.99. The business’s 50 day moving average is $350.25 and its 200-day moving average is $331.09.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.82 by $0.01. Eaton had a net margin of 15.32% and a return on equity of 21.97%. During the same quarter in the prior year, the company posted $2.55 earnings per share. Equities analysts anticipate that Eaton Co. plc will post 10.79 earnings per share for the current fiscal year.

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.