Parcion Private Wealth LLC Has $9.50 Million Stock Holdings in Eaton Co. plc (NYSE:ETN)

Parcion Private Wealth LLC boosted its position in shares of Eaton Co. plc (NYSE:ETN) by 313.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 28,637 shares of the industrial products company’s stock after buying an additional 21,719 shares during the quarter. Parcion Private Wealth LLC’s holdings in Eaton were worth $9,504,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of ETN. 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 valued at $32,000 after purchasing an additional 74 shares during the period. Morse Asset Management Inc bought a new position in Eaton during the 3rd quarter worth approximately $33,000. Activest Wealth Management raised its holdings in Eaton by 621.4% in the fourth quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 87 shares during the period. DT Investment Partners LLC bought a new position in shares of Eaton during the third quarter worth $37,000. Finally, Hager Investment Management Services LLC acquired a new position in shares of Eaton in the 4th quarter valued at $38,000. Institutional investors own 82.97% of the company’s stock.

Eaton Price Performance

ETN stock opened at $309.31 on Thursday. The company’s 50-day moving average price is $334.15 and its two-hundred day moving average price is $332.04. Eaton Co. plc has a 12 month low of $255.65 and a 12 month high of $379.99. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. The firm has a market cap of $122.24 billion, a P/E ratio of 32.56, a P/E/G ratio of 2.64 and a beta of 1.05.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, beating 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 in the prior year, the company earned $2.55 earnings per share. On average, analysts anticipate that Eaton Co. plc will post 12.03 earnings per share for the current fiscal year.

Insider Activity at Eaton

In related news, Director Gregory R. Page sold 10,000 shares of Eaton 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 approximately $15,379,403.94. The trade was a 18.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 completion of the transaction, the insider now directly owns 31,200 shares of the company’s stock, valued at approximately $11,811,696. The trade was a 4.33 % decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have issued reports on ETN. Citigroup lowered their price target on Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a report on Monday, January 13th. Wells Fargo & Company cut their price objective on shares of Eaton from $350.00 to $335.00 and set an “equal weight” rating on the stock in a research report on Monday, February 3rd. Jefferies Financial Group raised their target price on shares of Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Royal Bank of Canada cut their price target on shares of Eaton from $407.00 to $405.00 and set an “outperform” rating on the stock in a research report on Monday, February 3rd. Finally, Barclays raised their price objective on Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Eaton presently has a consensus rating of “Moderate Buy” and a consensus target price of $366.05.

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.