Mount Yale Investment Advisors LLC Increases Stake in Eaton Co. plc (NYSE:ETN)

Mount Yale Investment Advisors LLC lifted its stake in shares of Eaton Co. plc (NYSE:ETN) by 1.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,999 shares of the industrial products company’s stock after purchasing an additional 46 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in Eaton were worth $995,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Horizon Bancorp Inc. IN boosted its stake in Eaton by 321.7% in the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock worth $32,000 after buying an additional 74 shares in the last quarter. Morse Asset Management Inc bought a new stake in shares of Eaton in the 3rd quarter worth approximately $33,000. West Financial Advisors LLC bought a new stake in Eaton in the third quarter valued at $35,000. DT Investment Partners LLC purchased a new position in shares of Eaton during the third quarter valued at about $37,000. Finally, RPg Family Wealth Advisory LLC bought a new stake in Eaton during the 3rd quarter valued at approximately $44,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Craig Arnold sold 61,569 shares of the firm’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 completion of the transaction, the insider now owns 506,360 shares in the company, valued at $182,780,769.20. This trade represents a 10.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was 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 in the company, 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. Insiders have sold a total of 76,981 shares of company stock worth $27,660,117 over the last quarter. Insiders own 0.53% of the company’s stock.

Eaton Trading Down 16.0 %

Shares of Eaton stock opened at $310.11 on Tuesday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53. The company has a fifty day moving average of $353.96 and a 200 day moving average of $331.47. The company has a market capitalization of $122.55 billion, a P/E ratio of 32.99, a P/E/G ratio of 2.57 and a beta of 1.06. Eaton Co. plc has a fifty-two week low of $244.35 and a fifty-two week high of $379.99.

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

Wall Street Analyst Weigh In

ETN has been the topic of a number of recent research reports. JPMorgan Chase & Co. reduced their target price 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. Jefferies Financial Group lifted their target price on Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Citigroup decreased their price objective on shares of Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a report on Monday, January 13th. Mizuho lifted their price objective on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, UBS Group started coverage on Eaton in a report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 target price on the stock. 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 stock has an average rating of “Moderate Buy” and an average price target of $368.89.

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.