KPP Advisory Services LLC Increases Stake in Eaton Co. plc (NYSE:ETN)

KPP Advisory Services LLC raised its holdings in shares of Eaton Co. plc (NYSE:ETN) by 9.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,949 shares of the industrial products company’s stock after acquiring an additional 176 shares during the period. KPP Advisory Services LLC’s holdings in Eaton were worth $647,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. B. Riley Wealth Advisors Inc. increased its stake in shares of Eaton by 48.9% in the third quarter. B. Riley Wealth Advisors Inc. now owns 41,106 shares of the industrial products company’s stock worth $13,533,000 after purchasing an additional 13,497 shares in the last quarter. Lighthouse Wealth Management Inc. purchased a new stake in shares of Eaton in the fourth quarter worth $297,000. Webster Bank N. A. increased its stake in shares of Eaton by 52.4% in the fourth quarter. Webster Bank N. A. now owns 17,925 shares of the industrial products company’s stock worth $5,949,000 after purchasing an additional 6,166 shares in the last quarter. Ballentine Partners LLC increased its stake in shares of Eaton by 9.3% in the fourth quarter. Ballentine Partners LLC now owns 9,256 shares of the industrial products company’s stock worth $3,072,000 after purchasing an additional 790 shares in the last quarter. Finally, Blue Trust Inc. increased its stake in shares of Eaton by 13.2% in the fourth quarter. Blue Trust Inc. now owns 14,494 shares of the industrial products company’s stock worth $4,804,000 after purchasing an additional 1,694 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Eaton Price Performance

Eaton stock opened at $326.32 on Monday. The firm has a 50-day moving average price of $349.23 and a 200-day moving average price of $331.07. The firm has a market capitalization of $128.96 billion, a PE ratio of 34.35, a price-to-earnings-growth ratio of 2.27 and a beta of 1.05. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. Eaton Co. plc has a 12-month low of $245.65 and a 12-month high of $379.99.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, topping 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 period in the prior year, the firm posted $2.55 EPS. As a group, equities research analysts forecast that Eaton Co. plc will post 12 EPS for the current year.

Wall Street Analyst Weigh In

ETN has been the subject of a number of analyst reports. Bank of America increased their price objective on shares of Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Barclays upped their target price 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. Wells Fargo & Company dropped their target price on shares of Eaton from $365.00 to $350.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Evercore ISI lowered shares of Eaton from an “outperform” rating to an “inline” rating and upped their target price for the stock from $333.00 to $389.00 in a research report on Wednesday, November 13th. Finally, Royal Bank of Canada upped their target price on shares of Eaton from $374.00 to $392.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $369.30.

Insider Buying and Selling

In other Eaton news, Director Gregory R. Page sold 10,000 shares of the firm’s stock in a transaction dated 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 owns 43,203 shares of the company’s stock, valued at approximately $15,379,403.94. This trade represents a 18.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Craig Arnold sold 61,569 shares of the firm’s stock in a transaction dated 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 in the company, valued at $182,780,769.20. This trade represents a 10.84 % 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. Company insiders own 0.33% of the company’s stock.

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.