Trust Point Inc. Purchases 56 Shares of Eaton Co. plc (NYSE:ETN)

Trust Point Inc. grew its position in shares of Eaton Co. plc (NYSE:ETN) by 1.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,751 shares of the industrial products company’s stock after buying an additional 56 shares during the quarter. Trust Point Inc.’s holdings in Eaton were worth $1,245,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Groupama Asset Managment increased its position in shares of Eaton by 83.2% during the third quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 4,298 shares in the last quarter. Horizon Bancorp Inc. IN increased its position in shares of Eaton by 321.7% during the fourth 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 in the last quarter. Morse Asset Management Inc bought a new stake in shares of Eaton during the third quarter worth $33,000. West Financial Advisors LLC bought a new stake in shares of Eaton during the third quarter worth $35,000. Finally, DT Investment Partners LLC bought a new stake in shares of Eaton during the third quarter worth $37,000. 82.97% of the stock is owned by institutional investors.

Insider Activity

In other Eaton news, Director Gregory R. Page sold 10,000 shares of the firm’s stock in a transaction 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 transaction, the director now 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Craig Arnold sold 61,569 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total value of $22,224,561.93. Following the transaction, the insider now owns 506,360 shares in the company, valued at approximately $182,780,769.20. This trade represents a 10.84 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 72,981 shares of company stock worth $26,318,917. Corporate insiders own 0.53% of the company’s stock.

Eaton Stock Performance

NYSE ETN opened at $315.74 on Tuesday. The firm has a 50-day moving average of $349.23 and a 200-day moving average of $331.21. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. The stock has a market cap of $124.78 billion, a PE ratio of 33.24, a P/E/G ratio of 2.27 and a beta of 1.06. Eaton Co. plc has a 52-week low of $255.65 and a 52-week high of $379.99.

Eaton (NYSE:ETN) last posted 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 in the previous year, the firm posted $2.55 earnings per share. On average, sell-side analysts anticipate that Eaton Co. plc will post 12 EPS for the current year.

Analyst Ratings Changes

ETN has been the subject of a number of analyst reports. Bank of America raised their target price on shares of Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Wells Fargo & Company decreased their target price on shares of Eaton from $350.00 to $335.00 and set an “equal weight” rating for the company in a research report on Monday. Evercore ISI downgraded shares of Eaton from an “outperform” rating to an “inline” rating and raised their target price for the company from $333.00 to $389.00 in a research report on Wednesday, November 13th. JPMorgan Chase & Co. decreased their target price on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research report on Wednesday, January 15th. Finally, Barclays raised their target price on shares of Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Eaton presently has a consensus rating of “Moderate Buy” and a consensus target price of $369.20.

Eaton Profile

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.