Patriot Financial Group Insurance Agency LLC Acquires 2,098 Shares of Eaton Co. plc (NYSE:ETN)

Patriot Financial Group Insurance Agency LLC raised its stake in shares of Eaton Co. plc (NYSE:ETN) by 147.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,523 shares of the industrial products company’s stock after buying an additional 2,098 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Eaton were worth $1,169,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Horizon Bancorp Inc. IN lifted its holdings in 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 during the last quarter. Morse Asset Management Inc bought a new position in shares of Eaton in the third quarter valued at approximately $33,000. West Financial Advisors LLC acquired a new stake in shares of Eaton in the third quarter worth $35,000. DT Investment Partners LLC bought a new stake in shares of Eaton during the 3rd quarter worth $37,000. Finally, RPg Family Wealth Advisory LLC bought a new position in Eaton in the 3rd quarter worth $44,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Stock Performance

Shares of NYSE:ETN opened at $312.26 on Wednesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00. The business’s fifty day moving average price is $353.01 and its two-hundred day moving average price is $331.34. Eaton Co. plc has a fifty-two week low of $244.35 and a fifty-two week high of $379.99. The stock has a market capitalization of $123.41 billion, a price-to-earnings ratio of 33.22, a price-to-earnings-growth ratio of 2.57 and a beta of 1.06.

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

Insider Transactions at Eaton

In other Eaton news, Director Gregory R. Page sold 4,000 shares of Eaton stock in a transaction on Friday, November 1st. The stock was sold at an average price of $335.30, for a total value of $1,341,200.00. Following the completion of the transaction, the director now owns 51,422 shares in the company, valued at approximately $17,241,796.60. The trade was 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 Craig Arnold sold 61,569 shares of Eaton stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total value of $22,224,561.93. Following the completion of the transaction, the insider now directly owns 506,360 shares of the company’s stock, valued at $182,780,769.20. This represents a 10.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 76,981 shares of company stock valued at $27,660,117 in the last three months. 0.53% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ETN. Royal Bank of Canada upped their price target on shares of Eaton from $374.00 to $392.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Sanford C. Bernstein initiated coverage on Eaton in a report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 target price on the stock. JPMorgan Chase & Co. cut their price target on Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Melius Research restated a “hold” rating and issued a $373.00 price objective on shares of Eaton in a research note on Tuesday. Finally, Mizuho increased their price target on shares of Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Eaton has a consensus rating of “Moderate Buy” and an average price target of $369.30.

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.