Oak Harvest Investment Services Purchases New Holdings in Eaton Co. plc (NYSE:ETN)

Oak Harvest Investment Services acquired a new stake in Eaton Co. plc (NYSE:ETN) during the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 15,685 shares of the industrial products company’s stock, valued at approximately $5,205,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quarry LP acquired a new position in Eaton in the second quarter valued at approximately $84,000. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Eaton by 35.8% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 48,902 shares of the industrial products company’s stock worth $15,333,000 after acquiring an additional 12,902 shares in the last quarter. Neville Rodie & Shaw Inc. grew its stake in Eaton by 1.0% in the third quarter. Neville Rodie & Shaw Inc. now owns 35,958 shares of the industrial products company’s stock valued at $11,918,000 after acquiring an additional 342 shares during the period. Jacobs & Co. CA bought a new stake in shares of Eaton in the third quarter worth about $268,000. Finally, M&R Capital Management Inc. increased its stake in Eaton by 2.7% during the 3rd quarter. M&R Capital Management Inc. now owns 7,049 shares of the industrial products company’s stock worth $2,336,000 after purchasing an additional 183 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on ETN shares. Jefferies Financial Group upped their price target on shares of Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a report on Friday, December 6th. Sanford C. Bernstein assumed coverage on Eaton in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price target on the stock. Barclays increased their price objective on Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Evercore ISI downgraded Eaton from an “outperform” rating to an “inline” rating and upped their price target for the stock from $333.00 to $389.00 in a research report on Wednesday, November 13th. Finally, UBS Group started coverage on shares of Eaton in a report on Wednesday, November 13th. They set a “buy” rating and a $431.00 target price for the company. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $369.30.

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 in the company, valued at $15,379,403.94. This trade represents a 18.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 transaction, the insider now directly owns 506,360 shares of the company’s stock, valued at $182,780,769.20. The trade was a 10.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 72,981 shares of company stock valued at $26,318,917 in the last quarter. Insiders own 0.53% of the company’s stock.

Eaton Stock Performance

Shares of NYSE:ETN opened at $327.08 on Friday. The company’s 50 day simple moving average is $351.13 and its 200 day simple moving average is $331.12. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00. Eaton Co. plc has a 1 year low of $245.65 and a 1 year high of $379.99. The stock has a market capitalization of $129.26 billion, a price-to-earnings ratio of 34.80, a price-to-earnings-growth ratio of 2.21 and a beta of 1.06.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.80 by $0.04. The business had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. Eaton’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the prior year, the company earned $2.47 EPS. As a group, research analysts predict 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.