Eaton Co. plc (NYSE:ETN) Holdings Lifted by Chicago Capital LLC

Chicago Capital LLC grew its position in Eaton Co. plc (NYSE:ETN) by 2.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 67,623 shares of the industrial products company’s stock after purchasing an additional 1,834 shares during the period. Chicago Capital LLC’s holdings in Eaton were worth $22,442,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Groupama Asset Managment lifted its stake in shares of Eaton by 83.2% in the 3rd quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 4,298 shares during the period. Horizon Bancorp Inc. IN lifted its stake in shares of Eaton by 321.7% in the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 74 shares during the period. Morse Asset Management Inc acquired a new stake in shares of Eaton in the 3rd quarter worth approximately $33,000. West Financial Advisors LLC acquired a new stake in shares of Eaton in the 3rd quarter worth approximately $35,000. Finally, DT Investment Partners LLC acquired a new stake in shares of Eaton in the 3rd quarter worth approximately $37,000. Institutional investors own 82.97% of the company’s stock.

Eaton Stock Down 0.2 %

Eaton stock opened at $326.32 on Monday. The firm has a market cap of $128.96 billion, a PE ratio of 34.35, a P/E/G ratio of 2.27 and a beta of 1.05. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. The firm’s 50 day moving average price is $349.23 and its two-hundred day moving average price is $331.07. Eaton Co. plc has a twelve month low of $245.65 and a twelve month high of $379.99.

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

Insider Transactions at Eaton

In related news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $378.58, for a total value of $534,554.96. Following the transaction, the insider now directly owns 31,200 shares in the company, valued at approximately $11,811,696. This trade represents a 4.33 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Craig Arnold sold 61,569 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the completion of the transaction, the insider now owns 506,360 shares in the company, valued at $182,780,769.20. The trade was a 10.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 72,981 shares of company stock worth $26,318,917 in the last 90 days. 0.33% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on ETN. Evercore ISI lowered shares of Eaton from an “outperform” rating to an “inline” rating and increased their target price for the company from $333.00 to $389.00 in a research note on Wednesday, November 13th. Wells Fargo & Company cut their target price on shares of Eaton from $365.00 to $350.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Melius lowered shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price for the company. in a research note on Tuesday, January 28th. UBS Group began coverage on shares of Eaton in a research note on Wednesday, November 13th. They set a “buy” rating and a $431.00 target price for the company. Finally, Mizuho increased their target price on shares of Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $369.30.

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.