Quadrant Private Wealth Management LLC Grows Stock Holdings in Eaton Co. plc (NYSE:ETN)

Quadrant Private Wealth Management LLC raised its position in shares of Eaton Co. plc (NYSE:ETN) by 32.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,145 shares of the industrial products company’s stock after purchasing an additional 281 shares during the period. Quadrant Private Wealth Management LLC’s holdings in Eaton were worth $380,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in ETN. Groupama Asset Managment grew its stake in shares of Eaton by 83.2% in the third quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 4,298 shares during the last quarter. Horizon Bancorp Inc. IN grew its stake in shares of Eaton by 321.7% in the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 74 shares during the last quarter. Morse Asset Management Inc bought a new stake in shares of Eaton in the third quarter worth about $33,000. Activest Wealth Management grew its stake in shares of Eaton by 621.4% in the fourth quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 87 shares during the last quarter. Finally, DT Investment Partners LLC bought a new stake in shares of Eaton in the third quarter worth about $37,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on ETN shares. Melius Research reissued a “hold” rating and issued a $373.00 target price on shares of Eaton in a research note on Tuesday, January 28th. Evercore ISI cut Eaton from an “outperform” rating to an “inline” rating and lifted their price objective for the company from $333.00 to $389.00 in a research report on Wednesday, November 13th. Royal Bank of Canada cut their price objective on Eaton from $407.00 to $405.00 and set an “outperform” rating on the stock in a research report on Monday, February 3rd. Bank of America lifted their price objective on Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, Sanford C. Bernstein started coverage on Eaton in a research report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Eaton currently has an average rating of “Moderate Buy” and an average price target of $369.20.

Insider Activity at Eaton

In other 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 value of $534,554.96. Following the sale, the insider now owns 31,200 shares in the company, valued at $11,811,696. This trade represents a 4.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 completion of the sale, the director now owns 43,203 shares in the company, valued at approximately $15,379,403.94. This trade represents a 18.80 % decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is owned by company insiders.

Eaton Trading Up 0.5 %

NYSE ETN opened at $309.21 on Friday. The company has a fifty day simple moving average of $337.21 and a two-hundred day simple moving average of $331.39. The stock has a market cap of $122.20 billion, a P/E ratio of 32.55, a P/E/G 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 company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46.

Eaton (NYSE:ETN) last issued its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (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 firm earned $2.55 earnings per share. On average, analysts forecast that Eaton Co. plc will post 12.04 earnings per share for the current year.

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.