Eaton Co. plc (NYSE:ETN) Shares Bought by Parsons Capital Management Inc. RI

Parsons Capital Management Inc. RI raised its stake in shares of Eaton Co. plc (NYSE:ETN) by 5.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 10,707 shares of the industrial products company’s stock after purchasing an additional 540 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Eaton were worth $3,553,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of ETN. B. Riley Wealth Advisors Inc. increased its stake in Eaton by 48.9% during the third quarter. B. Riley Wealth Advisors Inc. now owns 41,106 shares of the industrial products company’s stock worth $13,533,000 after acquiring an additional 13,497 shares during the last quarter. Ballentine Partners LLC increased its position in shares of Eaton by 9.3% in the fourth quarter. Ballentine Partners LLC now owns 9,256 shares of the industrial products company’s stock worth $3,072,000 after acquiring an additional 790 shares in the last quarter. Dakota Wealth Management lifted its holdings in shares of Eaton by 8.8% during the 4th quarter. Dakota Wealth Management now owns 49,436 shares of the industrial products company’s stock valued at $16,406,000 after acquiring an additional 4,011 shares in the last quarter. Eastover Investment Advisors LLC purchased a new stake in Eaton during the 4th quarter worth $6,167,000. Finally, Neville Rodie & Shaw Inc. increased its holdings in Eaton by 6.8% in the 4th quarter. Neville Rodie & Shaw Inc. now owns 38,386 shares of the industrial products company’s stock valued at $12,739,000 after purchasing an additional 2,428 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling

In other news, Director Gregory R. Page sold 4,000 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the transaction, the director now owns 51,422 shares in the company, valued at $17,241,796.60. This represents a 7.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the company’s 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 of the company’s stock, valued at $11,811,696. This represents a 4.33 % 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. Corporate insiders own 0.53% of the company’s stock.

Eaton Stock Down 11.0 %

Shares of Eaton stock opened at $328.38 on Monday. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. Eaton Co. plc has a 12-month low of $244.35 and a 12-month high of $379.99. The firm has a market capitalization of $129.78 billion, a PE ratio of 34.90, a price-to-earnings-growth ratio of 2.57 and a beta of 1.06. The stock’s fifty day moving average is $353.96 and its 200-day moving average is $331.47.

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

Analyst Ratings Changes

Several brokerages recently commented on ETN. Evercore ISI downgraded Eaton from an “outperform” rating to an “inline” rating and raised their target price for the company from $333.00 to $389.00 in a report on Wednesday, November 13th. Bank of America upped their target price on shares of Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Mizuho upped their price objective on shares of Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Sanford C. Bernstein assumed coverage on Eaton in a report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price target for the company. Finally, Jefferies Financial Group upped their target price on Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a research report on Friday, December 6th. 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.com, the company presently has an average rating of “Moderate Buy” and an average target price of $368.89.

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.