YANKCOM Partnership Purchases Shares of 2,329 Eaton Co. plc (NYSE:ETN)

YANKCOM Partnership acquired a new position in shares of Eaton Co. plc (NYSE:ETN) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 2,329 shares of the industrial products company’s stock, valued at approximately $773,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Czech National Bank grew its holdings in shares of Eaton by 6.4% in the third quarter. Czech National Bank now owns 81,097 shares of the industrial products company’s stock valued at $26,879,000 after purchasing an additional 4,912 shares in the last quarter. City Center Advisors LLC purchased a new position in shares of Eaton in the 3rd quarter valued at about $226,000. Reliant Investment Management LLC grew its position in shares of Eaton by 2.4% during the third quarter. Reliant Investment Management LLC now owns 21,282 shares of the industrial products company’s stock worth $7,054,000 after buying an additional 500 shares in the last quarter. Trust Co of Kansas purchased a new stake in shares of Eaton during the third quarter worth approximately $240,000. Finally, Brookstone Capital Management lifted its stake in Eaton by 6.7% in the third quarter. Brookstone Capital Management now owns 2,766 shares of the industrial products company’s stock worth $917,000 after acquiring an additional 173 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Stock Performance

NYSE:ETN opened at $315.04 on Thursday. The firm has a market cap of $124.50 billion, a price-to-earnings ratio of 33.16, a price-to-earnings-growth ratio of 2.27 and a beta of 1.05. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. Eaton Co. plc has a 1-year low of $255.65 and a 1-year high of $379.99. The firm’s fifty day moving average price is $346.77 and its 200 day moving average price is $331.28.

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, 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 last year, the business earned $2.55 EPS. On average, sell-side analysts expect that Eaton Co. plc will post 12 EPS for the current year.

Insider Buying and Selling

In related news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $378.58, for a total value of $534,554.96. Following 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction, the director now owns 43,203 shares of the company’s stock, valued at approximately $15,379,403.94. The trade was a 18.80 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ETN. UBS Group started coverage on shares of Eaton in a research report on Wednesday, November 13th. They set a “buy” rating and a $431.00 price objective for the company. Melius Research reaffirmed a “hold” rating and set a $373.00 price target on shares of Eaton in a report on Tuesday, January 28th. Sanford C. Bernstein began coverage on Eaton in a research note on Tuesday, November 5th. They set an “outperform” rating and a $382.00 target price for the company. Jefferies Financial Group increased their price target on shares of Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Finally, Citigroup lowered their target price on shares of Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a report on Monday, January 13th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $369.20.

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.