Eaton Co. plc (NYSE:ETN) Shares Acquired by Avitas Wealth Management LLC

Avitas Wealth Management LLC lifted its stake in shares of Eaton Co. plc (NYSE:ETN) by 0.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 28,785 shares of the industrial products company’s stock after purchasing an additional 200 shares during the quarter. Eaton comprises 1.3% of Avitas Wealth Management LLC’s portfolio, making the stock its 16th largest position. Avitas Wealth Management LLC’s holdings in Eaton were worth $9,553,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Groupama Asset Managment raised its position in shares of Eaton by 83.2% during the 3rd quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 4,298 shares during the period. Horizon Bancorp Inc. IN increased its position in Eaton by 321.7% in the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 74 shares during the period. Morse Asset Management Inc acquired a new stake in Eaton in the 3rd quarter valued at approximately $33,000. West Financial Advisors LLC acquired a new stake in Eaton in the 3rd quarter valued at approximately $35,000. Finally, DT Investment Partners LLC acquired a new stake in Eaton in the 3rd quarter valued at approximately $37,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Eaton Trading Down 0.1 %

Shares of NYSE ETN opened at $315.21 on Wednesday. The firm has a market capitalization of $124.57 billion, a PE ratio of 33.18, a PEG ratio of 2.27 and a beta of 1.05. Eaton Co. plc has a one year low of $255.65 and a one year high of $379.99. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. The business has a 50-day moving average price of $348.01 and a two-hundred day moving average price of $331.26.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, beating analysts’ consensus estimates of $2.82 by $0.01. Eaton had a net margin of 15.25% and a return on equity of 22.62%. During the same quarter in the prior year, the firm earned $2.55 EPS. As a group, analysts predict that Eaton Co. plc will post 12 earnings per share for the current fiscal year.

Analyst Ratings Changes

ETN has been the topic of several analyst reports. Jefferies Financial Group raised 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. Barclays raised their target price on Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Mizuho lifted their price target on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Melius cut Eaton from a “buy” rating to a “hold” rating and set a $373.00 price target on the stock. in a research report on Tuesday, January 28th. Finally, Royal Bank of Canada lowered their price target on Eaton from $407.00 to $405.00 and set an “outperform” rating on the stock in a research report on Monday. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Eaton presently has a consensus rating of “Moderate Buy” and a consensus target price of $369.20.

Insider Buying and Selling

In related news, Director Gregory R. Page sold 10,000 shares of Eaton stock in a transaction on Friday, December 13th. The shares were 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 owns 43,203 shares of the company’s stock, valued at approximately $15,379,403.94. The trade was a 18.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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. 0.33% of the stock is owned by corporate insiders.

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.