Adell Harriman & Carpenter Inc. Acquires 1,494 Shares of Eaton Co. plc (NYSE:ETN)

Adell Harriman & Carpenter Inc. lifted its holdings in shares of Eaton Co. plc (NYSE:ETN) by 2.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 57,615 shares of the industrial products company’s stock after purchasing an additional 1,494 shares during the quarter. Eaton comprises approximately 1.3% of Adell Harriman & Carpenter Inc.’s holdings, making the stock its 21st biggest position. Adell Harriman & Carpenter Inc.’s holdings in Eaton were worth $19,121,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in ETN. Creative Planning increased its holdings in shares of Eaton by 2.7% in the third quarter. Creative Planning now owns 181,067 shares of the industrial products company’s stock valued at $60,013,000 after purchasing an additional 4,705 shares during the last quarter. Vontobel Holding Ltd. boosted its holdings in shares of Eaton by 52.6% during the 3rd quarter. Vontobel Holding Ltd. now owns 26,611 shares of the industrial products company’s stock worth $8,820,000 after buying an additional 9,174 shares during the period. B.O.S.S. Retirement Advisors LLC grew its stake in Eaton by 18.4% in the 3rd quarter. B.O.S.S. Retirement Advisors LLC now owns 1,270 shares of the industrial products company’s stock valued at $421,000 after buying an additional 197 shares during the last quarter. Good Life Advisors LLC raised its holdings in Eaton by 46.0% in the 3rd quarter. Good Life Advisors LLC now owns 2,839 shares of the industrial products company’s stock valued at $941,000 after acquiring an additional 895 shares during the period. Finally, Buffington Mohr McNeal lifted its position in Eaton by 6.2% during the third quarter. Buffington Mohr McNeal now owns 3,402 shares of the industrial products company’s stock worth $1,128,000 after acquiring an additional 200 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ETN has been the topic of a number of research reports. Sanford C. Bernstein assumed coverage on Eaton in a report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price objective on the stock. JPMorgan Chase & Co. decreased their price target on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. Barclays lifted their price objective on shares of Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Bank of America increased their target price on shares of Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, Jefferies Financial Group lifted their price target on shares of Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $369.20.

Eaton Price Performance

Shares of ETN opened at $309.21 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. The stock has a market cap of $122.20 billion, a PE ratio of 32.55, a PEG ratio of 2.37 and a beta of 1.05. Eaton Co. plc has a 12-month low of $255.65 and a 12-month high of $379.99. The business has a 50-day simple moving average of $338.45 and a two-hundred day simple moving average of $331.30.

Eaton (NYSE:ETN) last released its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, beating 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 period in the prior year, the company earned $2.55 earnings per share. Analysts anticipate that Eaton Co. plc will post 12.04 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the stock in a transaction dated Monday, November 25th. The stock was 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 owns 31,200 shares of the company’s stock, valued at approximately $11,811,696. This represents a 4.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Gregory R. Page sold 10,000 shares of the firm’s 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 transaction, the director now owns 43,203 shares of the company’s stock, valued at $15,379,403.94. This trade represents a 18.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.