ARS Investment Partners LLC Acquires 229 Shares of Eaton Co. plc (NYSE:ETN)

ARS Investment Partners LLC lifted its position in Eaton Co. plc (NYSE:ETN) by 0.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 39,661 shares of the industrial products company’s stock after purchasing an additional 229 shares during the period. Eaton accounts for about 1.2% of ARS Investment Partners LLC’s investment portfolio, making the stock its 29th biggest position. ARS Investment Partners LLC’s holdings in Eaton were worth $13,162,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in ETN. Horizon Bancorp Inc. IN boosted its position 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 worth $32,000 after purchasing an additional 74 shares in the last quarter. Morse Asset Management Inc purchased a new position in shares of Eaton during the third quarter worth $33,000. West Financial Advisors LLC purchased a new position in Eaton during the third quarter valued at approximately $35,000. DT Investment Partners LLC acquired a new stake in Eaton during the third quarter valued at $37,000. Finally, RPg Family Wealth Advisory LLC purchased a new stake in shares of Eaton in the third quarter valued at approximately $44,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Transactions at Eaton

In other news, Director Gregory R. Page sold 10,000 shares of the firm’s stock in a transaction on 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 completion of the sale, the director now directly owns 43,203 shares in the company, valued at approximately $15,379,403.94. This trade represents a 18.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Craig Arnold sold 61,569 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the transaction, the insider now owns 506,360 shares in the company, valued at approximately $182,780,769.20. This trade represents a 10.84 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 76,981 shares of company stock valued at $27,660,117. Company insiders own 0.33% of the company’s stock.

Eaton Trading Up 0.4 %

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

Eaton (NYSE:ETN) last issued its earnings results on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.80 by $0.04. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The business had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.37 billion. During the same period in the prior year, the company posted $2.47 earnings per share. Eaton’s revenue was up 7.9% on a year-over-year basis. As a group, research analysts predict that Eaton Co. plc will post 10.79 earnings per share for the current year.

Analyst Upgrades and Downgrades

ETN has been the subject of several research reports. Barclays upped 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. JPMorgan Chase & Co. decreased their price objective on Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. Mizuho boosted their target price on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Sanford C. Bernstein started coverage on shares of Eaton in a report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 target price for the company. Finally, Wells Fargo & Company cut 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. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.