PUREfi Wealth LLC Buys New Position in Eaton Co. plc (NYSE:ETN)

PUREfi Wealth LLC purchased a new position in shares of Eaton Co. plc (NYSE:ETN) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,293 shares of the industrial products company’s stock, valued at approximately $429,000.

Other hedge funds also recently made changes to their positions in the company. Creative Planning boosted its holdings in Eaton by 2.7% during the third quarter. Creative Planning now owns 181,067 shares of the industrial products company’s stock worth $60,013,000 after purchasing an additional 4,705 shares during the last quarter. Vontobel Holding Ltd. lifted its position in Eaton by 52.6% during the 3rd quarter. Vontobel Holding Ltd. now owns 26,611 shares of the industrial products company’s stock worth $8,820,000 after buying an additional 9,174 shares in the last quarter. B.O.S.S. Retirement Advisors LLC boosted its stake in shares of Eaton by 18.4% during the 3rd quarter. B.O.S.S. Retirement Advisors LLC now owns 1,270 shares of the industrial products company’s stock worth $421,000 after buying an additional 197 shares during the last quarter. Good Life Advisors LLC grew its holdings in shares of Eaton by 46.0% in the 3rd quarter. Good Life Advisors LLC now owns 2,839 shares of the industrial products company’s stock valued at $941,000 after acquiring an additional 895 shares in the last quarter. Finally, Buffington Mohr McNeal increased its position in shares of Eaton by 6.2% in the third quarter. Buffington Mohr McNeal now owns 3,402 shares of the industrial products company’s stock valued at $1,128,000 after acquiring an additional 200 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Eaton Trading Up 0.5 %

ETN stock opened at $309.21 on Friday. Eaton Co. plc has a 52 week low of $255.65 and a 52 week high of $379.99. The company has a market capitalization of $122.20 billion, a PE ratio of 32.55, a price-to-earnings-growth ratio of 2.37 and a beta of 1.05. The company’s 50-day simple moving average is $338.45 and its 200 day simple moving average is $331.30. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50.

Eaton (NYSE:ETN) last announced its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm posted $2.55 EPS. As a group, sell-side analysts anticipate that Eaton Co. plc will post 12.04 earnings per share for the current year.

Insider Buying and Selling at Eaton

In other news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 31,200 shares in the company, valued at approximately $11,811,696. The trade was a 4.33 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gregory R. Page sold 10,000 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the sale, the director now owns 43,203 shares in the company, valued at $15,379,403.94. This represents a 18.80 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ETN shares. JPMorgan Chase & Co. decreased their price target on Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. Melius Research reissued a “hold” rating and issued a $373.00 target price on shares of Eaton in a research note on Tuesday, January 28th. Royal Bank of Canada lowered their target price on shares of Eaton from $407.00 to $405.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Jefferies Financial Group increased their price target on shares of Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Finally, Citigroup lowered their price objective on shares of Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $369.20.

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.