6,470 Shares in Eaton Co. plc (NYSE:ETN) Acquired by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd bought a new position in shares of Eaton Co. plc (NYSE:ETN) during the fourth quarter, Holdings Channel.com reports. The fund bought 6,470 shares of the industrial products company’s stock, valued at approximately $2,147,000.

A number of other institutional investors have also made changes to their positions in the business. World Equity Group Inc. grew its holdings in Eaton by 3.3% in the 4th quarter. World Equity Group Inc. now owns 2,695 shares of the industrial products company’s stock valued at $894,000 after buying an additional 85 shares in the last quarter. Sigma Investment Counselors Inc. grew its holdings in Eaton by 468.6% in the 4th quarter. Sigma Investment Counselors Inc. now owns 9,195 shares of the industrial products company’s stock valued at $3,052,000 after buying an additional 7,578 shares in the last quarter. MONECO Advisors LLC grew its holdings in Eaton by 8.6% in the 4th quarter. MONECO Advisors LLC now owns 2,531 shares of the industrial products company’s stock valued at $840,000 after buying an additional 201 shares in the last quarter. Pekin Hardy Strauss Inc. grew its holdings in Eaton by 5.3% in the 4th quarter. Pekin Hardy Strauss Inc. now owns 10,520 shares of the industrial products company’s stock valued at $3,491,000 after buying an additional 525 shares in the last quarter. Finally, Howard Capital Management Inc. grew its holdings in Eaton by 8.1% in the 4th quarter. Howard Capital Management Inc. now owns 2,525 shares of the industrial products company’s stock valued at $838,000 after buying an additional 189 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, 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 transaction of $3,559,800.00. Following the sale, the director now directly owns 43,203 shares of the company’s stock, valued at approximately $15,379,403.94. This trade represents a 18.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.53% of the company’s stock.

Eaton Stock Performance

NYSE:ETN opened at $289.68 on Tuesday. The stock’s 50-day simple moving average is $330.66 and its 200 day simple moving average is $332.83. Eaton Co. plc has a twelve month low of $255.65 and a twelve month high of $379.99. The firm has a market capitalization of $114.48 billion, a PE ratio of 30.49, a price-to-earnings-growth ratio of 2.64 and a beta of 1.05. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46.

Eaton (NYSE:ETN) last announced its quarterly earnings results 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 return on equity of 22.62% and a net margin of 15.25%. During the same quarter last year, the business earned $2.55 EPS. On average, analysts anticipate that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have commented on ETN shares. Evercore ISI decreased their price objective on Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a report on Wednesday, February 19th. Citigroup cut their target price on Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Bank of America upped 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. Melius Research reiterated a “hold” rating and set a $373.00 target price on shares of Eaton in a research report on Tuesday, January 28th. Finally, Barclays upped 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. Seven equities 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, the company presently has an average rating of “Moderate Buy” and a consensus target price of $366.05.

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.