Sigma Investment Counselors Inc. Acquires 7,578 Shares of Eaton Co. plc (NYSE:ETN)

Sigma Investment Counselors Inc. increased its holdings in shares of Eaton Co. plc (NYSE:ETN) by 468.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,195 shares of the industrial products company’s stock after acquiring an additional 7,578 shares during the quarter. Sigma Investment Counselors Inc.’s holdings in Eaton were worth $3,052,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Groupama Asset Managment boosted its holdings in shares of Eaton by 83.2% in the 3rd quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock worth $31,000 after buying an additional 4,298 shares during the last quarter. Horizon Bancorp Inc. IN boosted its stake in Eaton by 321.7% in the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 74 shares during the last quarter. Morse Asset Management Inc purchased a new position in Eaton in the third quarter valued at about $33,000. Activest Wealth Management grew its position in shares of Eaton by 621.4% during the 4th quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 87 shares during the period. Finally, DT Investment Partners LLC purchased a new stake in shares of Eaton during the 3rd quarter worth approximately $37,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Evercore ISI dropped their price objective on Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a research note on Wednesday. Mizuho upped their price target on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Royal Bank of Canada reissued an “outperform” rating on shares of Eaton in a report on Thursday, February 13th. Citigroup dropped their price objective on shares of Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Finally, Melius downgraded shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price for the company. in a research note on Tuesday, January 28th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $366.05.

Eaton Trading Down 3.8 %

Shares of ETN stock opened at $297.11 on Friday. Eaton Co. plc has a 52-week low of $255.65 and a 52-week high of $379.99. The business’s fifty day moving average is $331.97 and its 200 day moving average is $332.43. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. The company has a market capitalization of $117.42 billion, a PE ratio of 31.27, a price-to-earnings-growth ratio of 2.64 and a beta of 1.05.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (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 in the prior year, the firm posted $2.55 earnings per share. On average, equities research analysts anticipate that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Insider Buying and Selling at Eaton

In related news, Director Gregory R. Page sold 10,000 shares of the firm’s 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 transaction, 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 position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the company’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 value 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. This represents a 4.33 % decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by company 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.