Westbourne Investment Advisors Inc. Has $638,000 Stake in Eaton Co. plc (NYSE:ETN)

Westbourne Investment Advisors Inc. boosted its stake in Eaton Co. plc (NYSE:ETN) by 11.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,923 shares of the industrial products company’s stock after buying an additional 200 shares during the quarter. Westbourne Investment Advisors Inc.’s holdings in Eaton were worth $638,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in ETN. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Eaton by 253.2% in the third 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 valued at $753,590,000 after acquiring an additional 1,629,856 shares in the last quarter. International Assets Investment Management LLC grew its stake in shares of Eaton by 27,075.5% during the 3rd quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company’s stock worth $355,959,000 after acquiring an additional 1,070,024 shares during the period. Janus Henderson Group PLC raised its stake in 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 acquiring an additional 597,700 shares during the period. Vaughan Nelson Investment Management L.P. purchased a new stake in Eaton during the third quarter valued at about $137,794,000. Finally, Assenagon Asset Management S.A. increased its stake in shares of Eaton by 3,508.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 401,728 shares of the industrial products company’s stock worth $133,321,000 after purchasing an additional 390,595 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the stock in a transaction that occurred 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 sale, the insider now owns 31,200 shares in the company, valued at $11,811,696. This represents a 4.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Gregory R. Page sold 10,000 shares of the company’s stock in a transaction on 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 in the company, valued at approximately $15,379,403.94. The trade was a 18.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.53% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

ETN has been the subject of several analyst reports. Jefferies Financial Group raised their price objective on shares of Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a report on Friday, December 6th. JPMorgan Chase & Co. reduced their price target on Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research report on Wednesday, January 15th. Wells Fargo & Company cut their target price on Eaton from $350.00 to $335.00 and set an “equal weight” rating for the company in a research note on Monday, February 3rd. Bank of America increased their price target on shares of Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, Melius lowered shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price on the stock. in a report on Tuesday, January 28th. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $369.20.

Eaton Stock Performance

Shares of ETN stock opened at $313.11 on Friday. The company has a market capitalization of $123.74 billion, a P/E ratio of 32.96, a PEG ratio of 2.27 and a beta of 1.05. Eaton Co. plc has a fifty-two week low of $255.65 and a fifty-two week high of $379.99. 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 stock has a 50 day moving average price of $344.50 and a two-hundred day moving average price of $331.06.

Eaton (NYSE:ETN) last announced its earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, beating 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 earnings per share. Analysts expect 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.