Equitable Trust Co. Acquires 39 Shares of Eaton Co. plc (NYSE:ETN)

Equitable Trust Co. increased its holdings in shares of Eaton Co. plc (NYSE:ETN) by 2.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,536 shares of the industrial products company’s stock after purchasing an additional 39 shares during the period. Equitable Trust Co.’s holdings in Eaton were worth $510,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its stake in Eaton by 251.5% in the 3rd quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 1,037 shares of the industrial products company’s stock valued at $344,000 after acquiring an additional 742 shares in the last quarter. Procyon Advisors LLC lifted its stake in Eaton by 6.6% in the 3rd quarter. Procyon Advisors LLC now owns 4,814 shares of the industrial products company’s stock valued at $1,595,000 after acquiring an additional 296 shares in the last quarter. ORG Wealth Partners LLC bought a new stake in Eaton in the 3rd quarter valued at approximately $140,000. Wesbanco Bank Inc. lifted its stake in Eaton by 8.2% in the 3rd quarter. Wesbanco Bank Inc. now owns 73,011 shares of the industrial products company’s stock valued at $24,199,000 after acquiring an additional 5,539 shares in the last quarter. Finally, Creative Planning lifted its stake in Eaton by 2.7% in the 3rd quarter. Creative Planning now owns 181,067 shares of the industrial products company’s stock valued at $60,013,000 after acquiring an additional 4,705 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Royal Bank of Canada cut their target price on Eaton from $407.00 to $405.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd. UBS Group began coverage on Eaton in a research note on Wednesday, November 13th. They set a “buy” rating and a $431.00 price objective on the stock. Melius cut Eaton from a “buy” rating to a “hold” rating and set a $373.00 price objective on the stock. in a research note on Tuesday, January 28th. Jefferies Financial Group upped their price objective on Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Finally, Barclays upped their price objective on Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $369.20.

Eaton Price Performance

Shares of ETN stock opened at $316.92 on Wednesday. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. Eaton Co. plc has a twelve month low of $255.65 and a twelve month high of $379.99. The company has a market cap of $125.25 billion, a P/E ratio of 33.36, a P/E/G ratio of 2.37 and a beta of 1.05. The business has a fifty day simple moving average of $342.21 and a 200 day simple moving average of $331.48.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, topping the consensus estimate of $2.82 by $0.01. Eaton had a return on equity of 22.62% and a net margin of 15.25%. During the same quarter in the prior year, the company posted $2.55 earnings per share. On average, sell-side analysts forecast that Eaton Co. plc will post 12.04 EPS for the current fiscal year.

Insider Buying and Selling at Eaton

In other Eaton news, Director Gregory R. Page sold 10,000 shares of the stock in a transaction dated 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 completion of the transaction, the director now directly owns 43,203 shares in the company, valued at approximately $15,379,403.94. This trade represents a 18.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $378.58, for a total value of $534,554.96. Following the completion of the sale, the insider now directly owns 31,200 shares of the company’s stock, valued at approximately $11,811,696. The trade was a 4.33 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.53% 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.