Diversify Wealth Management LLC Raises Stock Holdings in Eaton Co. plc (NYSE:ETN)

Diversify Wealth Management LLC boosted its holdings in Eaton Co. plc (NYSE:ETN) by 1.4% during the 4th quarter, Holdings Channel reports. The firm owned 3,488 shares of the industrial products company’s stock after acquiring an additional 47 shares during the period. Diversify Wealth Management LLC’s holdings in Eaton were worth $1,191,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Edgestream Partners L.P. grew its position in Eaton by 98.5% during the second quarter. Edgestream Partners L.P. now owns 1,989 shares of the industrial products company’s stock valued at $624,000 after buying an additional 987 shares during the period. Seven Eight Capital LP bought a new position in shares of Eaton during the 2nd quarter valued at approximately $270,000. King Luther Capital Management Corp grew its position in shares of Eaton by 19.4% during the 2nd quarter. King Luther Capital Management Corp now owns 3,327 shares of the industrial products company’s stock valued at $1,043,000 after acquiring an additional 541 shares during the period. Pacer Advisors Inc. increased its stake in shares of Eaton by 4.7% during the 2nd quarter. Pacer Advisors Inc. now owns 32,897 shares of the industrial products company’s stock worth $10,315,000 after purchasing an additional 1,483 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its holdings in shares of Eaton by 110.2% in the 2nd quarter. Thrivent Financial for Lutherans now owns 57,820 shares of the industrial products company’s stock worth $18,129,000 after purchasing an additional 30,319 shares during the period. Institutional investors own 82.97% of the company’s stock.

Insider Transactions at Eaton

In other news, Director Gregory R. Page sold 4,000 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $335.30, for a total value of $1,341,200.00. Following the completion of the sale, the director now owns 51,422 shares of the company’s stock, valued at approximately $17,241,796.60. This represents a 7.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Craig Arnold sold 61,569 shares of Eaton stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the completion of the transaction, the insider now owns 506,360 shares in the company, valued at approximately $182,780,769.20. The trade was a 10.84 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 76,981 shares of company stock worth $27,660,117. 0.33% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Citigroup decreased 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. Jefferies Financial Group boosted their price objective on Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. dropped their price objective on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Bank of America lifted their target price on shares of Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, Royal Bank of Canada upped their price target on shares of Eaton from $374.00 to $392.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $368.89.

Eaton Trading Up 0.4 %

Shares of Eaton stock opened at $346.54 on Tuesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00. Eaton Co. plc has a 1 year low of $236.20 and a 1 year high of $379.99. The firm has a market cap of $136.95 billion, a PE ratio of 36.87, a PEG ratio of 2.27 and a beta of 1.06. The company has a 50 day simple moving average of $354.32 and a two-hundred day simple moving average of $329.97.

Eaton (NYSE:ETN) last announced its earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.80 by $0.04. The company had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the previous year, the business earned $2.47 earnings per share. Analysts expect that Eaton Co. plc will post 10.8 earnings per share for the current fiscal year.

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.