Centricity Wealth Management LLC Invests $194,000 in Eaton Co. plc (NYSE:ETN)

Centricity Wealth Management LLC bought a new position in shares of Eaton Co. plc (NYSE:ETN) in the 4th quarter, HoldingsChannel.com reports. The firm bought 584 shares of the industrial products company’s stock, valued at approximately $194,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ETN. Horizon Bancorp Inc. IN boosted its holdings in shares of Eaton by 321.7% in the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after buying an additional 74 shares in the last quarter. Morse Asset Management Inc purchased a new stake in Eaton in the third quarter valued at $33,000. Activest Wealth Management boosted its stake in Eaton by 621.4% in the fourth quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 87 shares in the last quarter. DT Investment Partners LLC acquired a new stake in shares of Eaton during the third quarter worth about $37,000. Finally, Hager Investment Management Services LLC acquired a new stake in shares of Eaton in the 4th quarter valued at about $38,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ETN has been the subject of a number of research reports. Barclays boosted their price objective on Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. JPMorgan Chase & Co. decreased their price target on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. Melius Research restated a “hold” rating and issued a $373.00 price objective on shares of Eaton in a research note on Tuesday, January 28th. Citigroup decreased their target price on shares of Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Finally, Jefferies Financial Group boosted their price target on Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $366.05.

Eaton Stock Down 0.2 %

Shares of NYSE ETN opened at $308.95 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 firm has a 50-day moving average price of $333.15 and a 200 day moving average price of $331.88. Eaton Co. plc has a 52 week low of $255.65 and a 52 week high of $379.99. The stock has a market capitalization of $122.10 billion, a price-to-earnings ratio of 32.52, a price-to-earnings-growth ratio of 2.68 and a beta of 1.05.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) 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 in the prior year, the business posted $2.55 earnings per share. Equities research analysts anticipate that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Insiders Place Their Bets

In other Eaton 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 owns 31,200 shares in the company, valued at approximately $11,811,696. The trade was a 4.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gregory R. Page sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was 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. 0.53% of the stock is owned by company insiders.

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.