D.A. Davidson & CO. Has $9.15 Million Stake in Eaton Co. plc (NYSE:ETN)

D.A. Davidson & CO. lifted its holdings in shares of Eaton Co. plc (NYSE:ETN) by 7.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,572 shares of the industrial products company’s stock after buying an additional 1,838 shares during the quarter. D.A. Davidson & CO.’s holdings in Eaton were worth $9,151,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Cyndeo Wealth Partners LLC bought a new position in Eaton during the 3rd quarter worth approximately $417,000. Allspring Global Investments Holdings LLC boosted its stake in Eaton by 19.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 157,615 shares of the industrial products company’s stock worth $52,240,000 after acquiring an additional 25,843 shares during the last quarter. Northwest Investment Counselors LLC bought a new position in Eaton during the 3rd quarter worth approximately $50,000. Waterway Wealth Management LLC bought a new position in Eaton during the 3rd quarter worth approximately $229,000. Finally, Foundations Investment Advisors LLC boosted its stake in Eaton by 17.4% during the 3rd quarter. Foundations Investment Advisors LLC now owns 1,830 shares of the industrial products company’s stock worth $607,000 after acquiring an additional 271 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Sanford C. Bernstein assumed coverage on shares of Eaton in a research note on Tuesday, November 5th. They set an “outperform” rating and a $382.00 price objective on the stock. Wells Fargo & Company reduced their price objective on shares of Eaton from $350.00 to $335.00 and set an “equal weight” rating on the stock in a research note on Monday, February 3rd. Melius lowered shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 price target on the stock. in a research note on Tuesday, January 28th. Royal Bank of Canada cut their price target on shares of Eaton from $407.00 to $405.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd. Finally, Bank of America lifted their price target on shares of Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Eaton currently has an average rating of “Moderate Buy” and an average target price of $369.20.

Insider Buying and Selling at Eaton

In other Eaton news, Director Gregory R. Page sold 10,000 shares of the company’s 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 transaction, the director now directly owns 43,203 shares in the company, valued at $15,379,403.94. The trade was a 18.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were 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 approximately $11,811,696. The trade was a 4.33 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.53% of the company’s stock.

Eaton Price Performance

Shares of ETN opened at $313.04 on Wednesday. The company has a market cap of $123.71 billion, a price-to-earnings ratio of 32.95, a PEG ratio of 2.37 and a beta of 1.05. Eaton Co. plc has a 1-year low of $255.65 and a 1-year high of $379.99. The company’s fifty day simple moving average is $336.11 and its 200 day simple moving average is $331.97. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46.

Eaton (NYSE:ETN) last issued its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, topping 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 business earned $2.55 EPS. On average, research analysts forecast that Eaton Co. plc will post 12.04 earnings per share for the current fiscal year.

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.