Lmcg Investments LLC Takes Position in Eaton Co. plc (NYSE:ETN)

Lmcg Investments LLC bought a new stake in Eaton Co. plc (NYSE:ETN) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 9,605 shares of the industrial products company’s stock, valued at approximately $3,188,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ETN. Horizon Bancorp Inc. IN increased its position in Eaton by 321.7% during the 4th 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 in the last quarter. Morse Asset Management Inc acquired a new position in shares of Eaton during the 3rd quarter valued at $33,000. West Financial Advisors LLC purchased a new stake in Eaton during the 3rd quarter worth $35,000. DT Investment Partners LLC acquired a new stake in Eaton in the 3rd quarter valued at $37,000. Finally, RPg Family Wealth Advisory LLC purchased a new position in Eaton in the third quarter valued at about $44,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Eaton Stock Performance

Shares of NYSE ETN opened at $346.54 on Tuesday. Eaton Co. plc has a 12-month low of $236.20 and a 12-month high of $379.99. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. The company has a market cap of $136.95 billion, a PE ratio of 36.87, a P/E/G ratio of 2.40 and a beta of 1.06. The stock has a 50 day simple moving average of $354.32 and a 200-day simple moving average of $329.97.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.80 by $0.04. The business had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The company’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.47 earnings per share. On average, equities research analysts forecast that Eaton Co. plc will post 10.79 EPS for the current year.

Insider Buying and Selling at Eaton

In other news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $378.58, for a total transaction of $534,554.96. Following the completion of the sale, the insider now owns 31,200 shares in the company, valued at approximately $11,811,696. This represents a 4.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gregory R. Page sold 4,000 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $335.30, for a total value of $1,341,200.00. Following the sale, the director now directly owns 51,422 shares of the company’s stock, valued at approximately $17,241,796.60. This represents a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 76,981 shares of company stock valued at $27,660,117. 0.33% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

ETN has been the subject of a number of recent research reports. Wells Fargo & Company lowered their target price on Eaton from $365.00 to $350.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Barclays lifted their price objective on shares of Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Sanford C. Bernstein initiated coverage on shares of Eaton in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 target price for the company. Mizuho lifted their price target on shares of Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, Evercore ISI cut shares of Eaton from an “outperform” rating to an “inline” rating and upped their price objective for the company from $333.00 to $389.00 in a research report on Wednesday, November 13th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $368.89.

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.