Eaton Co. plc (NYSE:ETN) Shares Bought by Activest Wealth Management

Activest Wealth Management lifted its stake in Eaton Co. plc (NYSE:ETN) by 621.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 101 shares of the industrial products company’s stock after buying an additional 87 shares during the quarter. Activest Wealth Management’s holdings in Eaton were worth $34,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Washburn Capital Management Inc. purchased a new position in shares of Eaton during the 4th quarter valued at approximately $209,000. Kestra Private Wealth Services LLC grew its position in Eaton by 12.5% during the fourth quarter. Kestra Private Wealth Services LLC now owns 40,119 shares of the industrial products company’s stock valued at $13,314,000 after buying an additional 4,460 shares during the period. Vaughan Nelson Investment Management L.P. increased its holdings in Eaton by 7.2% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 445,706 shares of the industrial products company’s stock valued at $147,916,000 after buying an additional 29,963 shares in the last quarter. Quotient Wealth Partners LLC raised its position in shares of Eaton by 5.1% in the fourth quarter. Quotient Wealth Partners LLC now owns 1,169 shares of the industrial products company’s stock worth $388,000 after acquiring an additional 57 shares during the period. Finally, AlphaStar Capital Management LLC grew its position in shares of Eaton by 2.8% during the 4th quarter. AlphaStar Capital Management LLC now owns 6,015 shares of the industrial products company’s stock valued at $1,996,000 after acquiring an additional 165 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Eaton Trading Down 0.9 %

Shares of ETN stock opened at $313.11 on Monday. Eaton Co. plc has a twelve month low of $255.65 and a twelve month high of $379.99. The stock has a market cap of $123.74 billion, a price-to-earnings ratio of 32.96, a PEG ratio of 2.37 and a beta of 1.05. The company’s 50-day moving average price is $343.25 and its 200-day moving average price is $331.07. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, beating 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 previous year, the business posted $2.55 earnings per share. As a group, equities analysts predict that Eaton Co. plc will post 12.04 earnings per share for the current year.

Insider Transactions at Eaton

In other news, Director Gregory R. Page sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $355.98, for a total value of $3,559,800.00. Following the transaction, the director now directly owns 43,203 shares in the company, valued at approximately $15,379,403.94. This represents a 18.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of Eaton stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $378.58, for a total transaction of $534,554.96. Following the completion of the sale, the insider now owns 31,200 shares of the company’s stock, valued at $11,811,696. This trade represents a 4.33 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ETN. JPMorgan Chase & Co. reduced their price target on Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Bank of America increased 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. Mizuho boosted their price target on shares of Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Wells Fargo & Company cut their target price on shares of Eaton from $350.00 to $335.00 and set an “equal weight” rating for the company in a research note on Monday, February 3rd. Finally, Sanford C. Bernstein initiated coverage on shares of Eaton in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.