Trust Point Inc. Has $1.25 Million Stock Holdings in Eaton Co. plc (NYSE:ETN)

Trust Point Inc. grew its holdings in Eaton Co. plc (NYSE:ETN) by 1.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,751 shares of the industrial products company’s stock after purchasing an additional 56 shares during the quarter. Trust Point Inc.’s holdings in Eaton were worth $1,245,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in ETN. Horizon Bancorp Inc. IN increased its position in Eaton by 321.7% in the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after buying an additional 74 shares in the last quarter. Morse Asset Management Inc bought a new stake in Eaton in the 3rd quarter valued at about $33,000. West Financial Advisors LLC bought a new stake in Eaton in the 3rd quarter valued at about $35,000. DT Investment Partners LLC bought a new stake in Eaton in the 3rd quarter valued at about $37,000. Finally, RPg Family Wealth Advisory LLC bought a new stake in Eaton in the 3rd quarter valued at about $44,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Eaton Trading Down 3.3 %

NYSE:ETN opened at $315.74 on Tuesday. 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 firm has a market capitalization of $124.78 billion, a price-to-earnings ratio of 33.24, a price-to-earnings-growth ratio of 2.27 and a beta of 1.06. Eaton Co. plc has a one year low of $255.65 and a one year high of $379.99. The business has a fifty day moving average price of $349.23 and a 200-day moving average price of $331.21.

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 the consensus estimate 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 period in the prior year, the company posted $2.55 earnings per share. Sell-side analysts forecast that Eaton Co. plc will post 12 EPS for the current year.

Insider Buying and Selling at Eaton

In other news, insider Craig Arnold sold 61,569 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the transaction, the insider now directly owns 506,360 shares of the company’s stock, valued at approximately $182,780,769.20. This trade represents a 10.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the firm’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 transaction of $534,554.96. Following the transaction, the insider now directly owns 31,200 shares in the company, valued at approximately $11,811,696. This trade represents a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 72,981 shares of company stock valued at $26,318,917 in the last 90 days. Insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on ETN. Sanford C. Bernstein began coverage on Eaton in a report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 price objective for the company. Jefferies Financial Group boosted their price objective on Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Wells Fargo & Company decreased their price objective on Eaton from $350.00 to $335.00 and set an “equal weight” rating for the company in a report on Monday. Barclays boosted their price objective on Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Finally, UBS Group initiated coverage on Eaton in a report on Wednesday, November 13th. They set a “buy” rating and a $431.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $369.20.

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.