Eaton Co. plc (NYSE:ETN) Stake Boosted by NovaPoint Capital LLC

NovaPoint Capital LLC increased its position in shares of Eaton Co. plc (NYSE:ETN) by 6.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,534 shares of the industrial products company’s stock after purchasing an additional 261 shares during the quarter. NovaPoint Capital LLC’s holdings in Eaton were worth $1,505,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Czech National Bank increased its position in Eaton by 6.4% in the third quarter. Czech National Bank now owns 81,097 shares of the industrial products company’s stock worth $26,879,000 after buying an additional 4,912 shares during the period. City Center Advisors LLC acquired a new stake in Eaton in the third quarter worth $226,000. Reliant Investment Management LLC increased its position in Eaton by 2.4% in the third quarter. Reliant Investment Management LLC now owns 21,282 shares of the industrial products company’s stock worth $7,054,000 after buying an additional 500 shares during the period. Trust Co of Kansas acquired a new stake in Eaton in the third quarter worth $240,000. Finally, Brookstone Capital Management increased its position in Eaton by 6.7% in the third quarter. Brookstone Capital Management now owns 2,766 shares of the industrial products company’s stock worth $917,000 after buying an additional 173 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Eaton Trading Up 0.1 %

Shares of NYSE ETN opened at $315.04 on Thursday. Eaton Co. plc has a one year low of $255.65 and a one year high of $379.99. The firm has a market capitalization of $124.50 billion, a PE ratio of 33.16, a PEG ratio of 2.27 and a beta of 1.05. 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 $346.77 and a two-hundred day moving average price of $331.28.

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

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ETN. Melius lowered Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price on the stock. in a research report on Tuesday, January 28th. Bank of America raised their price target on Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Jefferies Financial Group raised their price target on Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a report on Friday, December 6th. Wells Fargo & Company lowered their price target on Eaton from $350.00 to $335.00 and set an “equal weight” rating on the stock in a report on Monday. Finally, Barclays raised their price target on Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $369.20.

Insider Transactions at Eaton

In other Eaton news, insider Ernest W. Marshall, Jr. sold 1,412 shares of Eaton stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $378.58, for a total value of $534,554.96. Following the transaction, the insider now directly owns 31,200 shares of the company’s stock, valued at $11,811,696. The trade was a 4.33 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Gregory R. Page sold 10,000 shares of Eaton stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $355.98, for a total value of $3,559,800.00. Following the completion of the transaction, the director now directly owns 43,203 shares in the company, valued at approximately $15,379,403.94. This represents a 18.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.

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.