Hamilton Point Investment Advisors LLC Purchases 418 Shares of Eaton Co. plc (NYSE:ETN)

Hamilton Point Investment Advisors LLC boosted its position in shares of Eaton Co. plc (NYSE:ETN) by 1.4% in the 4th quarter, HoldingsChannel reports. The firm owned 29,769 shares of the industrial products company’s stock after buying an additional 418 shares during the period. Eaton accounts for about 1.7% of Hamilton Point Investment Advisors LLC’s investment portfolio, making the stock its 14th largest holding. Hamilton Point Investment Advisors LLC’s holdings in Eaton were worth $9,879,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Groupama Asset Managment increased its stake in shares of Eaton by 83.2% in the third quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock valued at $31,000 after buying an additional 4,298 shares in the last quarter. Horizon Bancorp Inc. IN grew its holdings in Eaton by 321.7% during 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 last quarter. Morse Asset Management Inc acquired a new stake in Eaton in the 3rd quarter valued at about $33,000. West Financial Advisors LLC bought a new position in shares of Eaton in the third quarter worth about $35,000. Finally, DT Investment Partners LLC acquired a new position in shares of Eaton during the third quarter worth approximately $37,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Gregory R. Page sold 10,000 shares of the business’s stock in a transaction 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the stock in a transaction 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 sale, the insider now owns 31,200 shares of the company’s stock, valued at approximately $11,811,696. This represents a 4.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 72,981 shares of company stock valued at $26,318,917 in the last 90 days. 0.53% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ETN shares. Evercore ISI downgraded Eaton from an “outperform” rating to an “inline” rating and boosted their target price for the stock from $333.00 to $389.00 in a research report on Wednesday, November 13th. Melius downgraded shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price on the stock. in a research report on Tuesday. Barclays lifted their price target on shares of Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. JPMorgan Chase & Co. cut their price objective on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Finally, Citigroup lowered their target price on shares of Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a report on Monday, January 13th. Six 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 has a consensus rating of “Moderate Buy” and a consensus target price of $369.30.

Eaton Stock Performance

Shares of ETN stock opened at $327.08 on Friday. The firm has a market cap of $129.26 billion, a PE ratio of 34.80, a P/E/G ratio of 2.21 and a beta of 1.06. Eaton Co. plc has a 12 month low of $245.65 and a 12 month high of $379.99. The company’s fifty day simple moving average is $350.25 and its 200-day simple moving average is $331.09. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, topping analysts’ consensus estimates of $2.82 by $0.01. Eaton had a net margin of 15.32% and a return on equity of 21.97%. Equities research analysts expect that Eaton Co. plc will post 10.79 EPS for the current fiscal 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.