Vest Financial LLC Invests $1.14 Million in Eaton Co. plc (NYSE:ETN)

Vest Financial LLC acquired a new stake in Eaton Co. plc (NYSE:ETN) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 3,435 shares of the industrial products company’s stock, valued at approximately $1,140,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ETN. Horizon Bancorp Inc. IN raised its stake in shares of Eaton by 321.7% during the 4th 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 during the last quarter. Morse Asset Management Inc purchased a new position in Eaton during the 3rd quarter valued at about $33,000. DT Investment Partners LLC purchased a new stake in shares of Eaton in the third quarter valued at about $37,000. Hager Investment Management Services LLC acquired a new stake in shares of Eaton in the fourth quarter valued at approximately $38,000. Finally, RPg Family Wealth Advisory LLC purchased a new position in shares of Eaton during the 3rd quarter worth approximately $44,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Eaton

In related news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 31,200 shares of the company’s stock, valued at approximately $11,811,696. The trade was a 4.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Gregory R. Page sold 10,000 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the completion of the sale, the director now directly owns 43,203 shares of the company’s stock, valued at $15,379,403.94. This trade represents a 18.80 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on ETN shares. Wells Fargo & Company lowered their target price on Eaton from $350.00 to $335.00 and set an “equal weight” rating on the stock in a report on Monday, February 3rd. Melius Research reaffirmed a “hold” rating and set a $373.00 price objective on shares of Eaton in a research note on Tuesday, January 28th. Mizuho boosted their target price on shares of Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Jefferies Financial Group raised their price target on shares of Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Finally, UBS Group initiated coverage on shares of Eaton in a research report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 price objective for the company. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Eaton currently has a consensus rating of “Moderate Buy” and an average target price of $369.20.

Eaton Stock Performance

Shares of NYSE:ETN opened at $313.11 on Monday. The firm has a market capitalization of $123.74 billion, a PE ratio of 32.96, a P/E/G ratio of 2.37 and a beta of 1.05. Eaton Co. plc has a 12 month low of $255.65 and a 12 month high of $379.99. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. The business has a 50-day moving average of $343.25 and a two-hundred day moving average of $331.07.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, beating the consensus estimate 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 period last year, the business earned $2.55 EPS. As a group, research analysts forecast that Eaton Co. plc will post 12.04 earnings per share for the current year.

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.