PFG Investments LLC Buys 37 Shares of Eaton Co. plc (NYSE:ETN)

PFG Investments LLC grew its stake in Eaton Co. plc (NYSE:ETN) by 0.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,366 shares of the industrial products company’s stock after purchasing an additional 37 shares during the quarter. PFG Investments LLC’s holdings in Eaton were worth $2,445,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. B. Riley Wealth Advisors Inc. raised its position in shares of Eaton by 48.9% in the third quarter. B. Riley Wealth Advisors Inc. now owns 41,106 shares of the industrial products company’s stock valued at $13,533,000 after purchasing an additional 13,497 shares during the period. Ballentine Partners LLC increased its position in Eaton by 9.3% during 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 during the period. Dakota Wealth Management increased its position in Eaton by 8.8% during the fourth quarter. Dakota Wealth Management now owns 49,436 shares of the industrial products company’s stock worth $16,406,000 after acquiring an additional 4,011 shares during the period. Eastover Investment Advisors LLC bought a new position in Eaton during the fourth quarter worth about $6,167,000. Finally, Neville Rodie & Shaw Inc. increased its position in Eaton by 6.8% during the fourth quarter. Neville Rodie & Shaw Inc. now owns 38,386 shares of the industrial products company’s stock worth $12,739,000 after acquiring an additional 2,428 shares during the period. 82.97% of the stock is owned by institutional investors.

Eaton Stock Down 0.3 %

Eaton stock opened at $368.63 on Monday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53. Eaton Co. plc has a 52-week low of $241.87 and a 52-week high of $379.99. The firm has a 50 day moving average price of $353.96 and a two-hundred day moving average price of $331.44. The firm has a market cap of $145.68 billion, a price-to-earnings ratio of 39.22, a PEG ratio of 2.57 and a beta of 1.06.

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

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on ETN shares. JPMorgan Chase & Co. lowered their price target on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. Barclays increased their price objective on shares of Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Royal Bank of Canada increased their price objective on shares of Eaton from $374.00 to $392.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Wells Fargo & Company reduced their price objective on shares of Eaton from $365.00 to $350.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. Finally, Bank of America increased their price objective on shares of Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Eaton presently has a consensus rating of “Moderate Buy” and a consensus target price of $368.89.

Insider Activity

In related news, insider Ernest W. Marshall, Jr. sold 1,412 shares of Eaton stock in a transaction on Monday, November 25th. The shares were sold at an average price of $378.58, for a total value of $534,554.96. Following the completion of the sale, the insider now owns 31,200 shares of the company’s stock, valued at approximately $11,811,696. This trade represents a 4.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Craig Arnold sold 61,569 shares of Eaton stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the completion of the sale, the insider now directly owns 506,360 shares of the company’s stock, valued at approximately $182,780,769.20. The trade was a 10.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 76,981 shares of company stock worth $27,660,117 in the last quarter. 0.53% of the stock is owned by corporate insiders.

Eaton 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.