Congress Asset Management Co. Purchases 3,022 Shares of Eaton Co. plc (NYSE:ETN)

Congress Asset Management Co. increased its position in shares of Eaton Co. plc (NYSE:ETN) by 0.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 524,422 shares of the industrial products company’s stock after acquiring an additional 3,022 shares during the period. Eaton makes up about 1.2% of Congress Asset Management Co.’s holdings, making the stock its 12th biggest position. Congress Asset Management Co. owned 0.13% of Eaton worth $174,040,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vivid Wealth Management LLC purchased a new stake in shares of Eaton during the 4th quarter valued at $2,133,000. Myriad Asset Management US LP purchased a new stake in shares of Eaton during the 4th quarter valued at $1,987,000. PUREfi Wealth LLC purchased a new stake in shares of Eaton during the 4th quarter valued at $429,000. Quadrant Private Wealth Management LLC raised its position in shares of Eaton by 32.5% during the 4th quarter. Quadrant Private Wealth Management LLC now owns 1,145 shares of the industrial products company’s stock valued at $380,000 after buying an additional 281 shares in the last quarter. Finally, Adell Harriman & Carpenter Inc. raised its position in shares of Eaton by 2.7% during the 4th quarter. Adell Harriman & Carpenter Inc. now owns 57,615 shares of the industrial products company’s stock valued at $19,121,000 after buying an additional 1,494 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Insider Activity

In related news, insider Ernest W. Marshall, Jr. sold 1,412 shares of Eaton stock in a transaction dated 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 transaction, the insider now directly owns 31,200 shares of the company’s stock, valued at $11,811,696. This trade represents a 4.33 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Gregory R. Page sold 10,000 shares of Eaton 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 directly 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.53% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. UBS Group assumed coverage on shares of Eaton in a research report on Wednesday, November 13th. They set a “buy” rating and a $431.00 price objective on the stock. Jefferies Financial Group raised their price objective 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. Sanford C. Bernstein assumed coverage on shares of Eaton in a research report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 target price on the stock. Melius cut shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price on the stock. in a research report on Tuesday, January 28th. Finally, Bank of America lifted 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. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Eaton presently has an average rating of “Moderate Buy” and an average target price of $369.20.

Eaton Trading Up 0.5 %

Shares of ETN opened at $309.21 on Friday. The firm’s 50-day moving average price is $337.21 and its 200-day moving average price is $331.39. The firm has a market capitalization of $122.20 billion, a price-to-earnings ratio of 32.55, a PEG 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 announced its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, beating 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 last year, the business posted $2.55 EPS. Sell-side analysts anticipate that Eaton Co. plc will post 12.04 EPS for the current year.

Eaton Company 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.