Eaton Co. plc (NYSE:ETN) Shares Acquired by Avidian Wealth Enterprises LLC

Avidian Wealth Enterprises LLC raised its position in shares of Eaton Co. plc (NYSE:ETN) by 2.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 4,089 shares of the industrial products company’s stock after acquiring an additional 103 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in Eaton were worth $1,357,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Creative Planning lifted its position in Eaton by 2.7% during the third quarter. Creative Planning now owns 181,067 shares of the industrial products company’s stock worth $60,013,000 after buying an additional 4,705 shares in the last quarter. Bill Few Associates Inc. lifted its position in Eaton by 2.7% during the third quarter. Bill Few Associates Inc. now owns 8,510 shares of the industrial products company’s stock worth $2,820,000 after buying an additional 222 shares in the last quarter. Proquility Private Wealth Partners LLC lifted its position in Eaton by 9.3% during the third quarter. Proquility Private Wealth Partners LLC now owns 8,260 shares of the industrial products company’s stock worth $2,738,000 after buying an additional 702 shares in the last quarter. SeaCrest Wealth Management LLC lifted its position in Eaton by 1.4% during the third quarter. SeaCrest Wealth Management LLC now owns 5,657 shares of the industrial products company’s stock worth $1,875,000 after buying an additional 78 shares in the last quarter. Finally, Sumitomo Life Insurance Co. lifted its position in Eaton by 1.6% during the third quarter. Sumitomo Life Insurance Co. now owns 12,968 shares of the industrial products company’s stock worth $4,298,000 after buying an additional 209 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on ETN. Evercore ISI downgraded Eaton from an “outperform” rating to an “inline” rating and lifted their price objective for the stock from $333.00 to $389.00 in a research report on Wednesday, November 13th. UBS Group began coverage on Eaton in a research report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 target price on the stock. Bank of America lifted their target price on Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. JPMorgan Chase & Co. reduced their target price on Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. Finally, Melius downgraded 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. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $369.20.

Eaton Trading Down 2.1 %

ETN opened at $309.93 on Thursday. Eaton Co. plc has a 12 month low of $255.65 and a 12 month high of $379.99. The stock has a market capitalization of $122.48 billion, a price-to-earnings ratio of 32.62, a PEG ratio of 2.37 and a beta of 1.05. 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 fifty day moving average price of $341.07 and a 200 day moving average price of $331.62.

Eaton (NYSE:ETN) last released its earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, topping the consensus estimate 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 in the previous year, the business posted $2.55 earnings per share. Sell-side analysts expect that Eaton Co. plc will post 12.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Eaton news, insider Ernest W. Marshall, Jr. sold 1,412 shares of Eaton stock in a transaction dated 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 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 Securities & Exchange Commission, which is available at this link. Also, Director Gregory R. Page sold 10,000 shares of Eaton stock in a transaction dated 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 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 ownership of the stock. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by insiders.

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.