Mill Creek Capital Advisors LLC Acquires New Shares in Eaton Co. plc (NYSE:ETN)

Mill Creek Capital Advisors LLC bought a new stake in Eaton Co. plc (NYSE:ETN) during the fourth quarter, Holdings Channel.com reports. The firm bought 1,194 shares of the industrial products company’s stock, valued at approximately $396,000.

Several other institutional investors have also modified their holdings of ETN. Wetzel Investment Advisors Inc. grew its position in Eaton by 0.9% in the 4th quarter. Wetzel Investment Advisors Inc. now owns 3,101 shares of the industrial products company’s stock worth $1,029,000 after purchasing an additional 28 shares during the last quarter. Fairfield Financial Advisors LTD increased its position in Eaton by 16.2% in the 3rd quarter. Fairfield Financial Advisors LTD now owns 215 shares of the industrial products company’s stock valued at $71,000 after acquiring an additional 30 shares during the period. Westmount Partners LLC raised its stake in Eaton by 3.1% during the 4th quarter. Westmount Partners LLC now owns 985 shares of the industrial products company’s stock valued at $327,000 after acquiring an additional 30 shares in the last quarter. Signal Advisors Wealth LLC boosted its position in Eaton by 3.5% during the 4th quarter. Signal Advisors Wealth LLC now owns 896 shares of the industrial products company’s stock worth $297,000 after acquiring an additional 30 shares during the period. Finally, Lantz Financial LLC grew its stake in shares of Eaton by 4.8% in the fourth quarter. Lantz Financial LLC now owns 659 shares of the industrial products company’s stock worth $219,000 after purchasing an additional 30 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Eaton Stock Performance

Shares of ETN stock opened at $319.97 on Tuesday. The stock’s fifty day simple moving average is $343.25 and its 200-day simple moving average is $331.29. The company has a market capitalization of $126.45 billion, a price-to-earnings ratio of 33.68, a P/E/G ratio of 2.37 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 1-year low of $255.65 and a 1-year 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 quarter in the previous year, the company earned $2.55 earnings per share. On average, sell-side analysts predict that Eaton Co. plc will post 12.04 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ETN has been the subject of several research analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Melius Research reiterated a “hold” rating and issued a $373.00 price objective on shares of Eaton in a report on Tuesday, January 28th. Wells Fargo & Company dropped their target price on Eaton from $350.00 to $335.00 and set an “equal weight” rating on the stock in a report on Monday, February 3rd. Royal Bank of Canada decreased their price target on Eaton from $407.00 to $405.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Finally, Mizuho boosted their price objective on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $369.20.

Insider Buying and Selling

In related news, Director Gregory R. Page sold 10,000 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $355.98, for a total value of $3,559,800.00. Following the transaction, the director now owns 43,203 shares in the company, valued at approximately $15,379,403.94. This represents a 18.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of Eaton 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 sale, the insider now owns 31,200 shares of the company’s stock, valued at $11,811,696. This trade represents a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.53% of the stock is owned by corporate insiders.

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.