4,034 Shares in Eaton Co. plc (NYSE:ETN) Purchased by PICTET BANK & TRUST Ltd

PICTET BANK & TRUST Ltd bought a new stake in shares of Eaton Co. plc (NYSE:ETN) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 4,034 shares of the industrial products company’s stock, valued at approximately $1,339,000. Eaton accounts for 1.3% of PICTET BANK & TRUST Ltd’s investment portfolio, making the stock its 26th largest position.

Several other institutional investors and hedge funds have also recently bought and sold shares of ETN. Creative Planning grew its holdings in Eaton by 2.7% in the 3rd quarter. Creative Planning now owns 181,067 shares of the industrial products company’s stock worth $60,013,000 after buying an additional 4,705 shares in the last quarter. Vontobel Holding Ltd. boosted its position in Eaton by 52.6% during the 3rd quarter. Vontobel Holding Ltd. now owns 26,611 shares of the industrial products company’s stock worth $8,820,000 after acquiring an additional 9,174 shares during the period. B.O.S.S. Retirement Advisors LLC grew its stake in shares of Eaton by 18.4% in the third quarter. B.O.S.S. Retirement Advisors LLC now owns 1,270 shares of the industrial products company’s stock worth $421,000 after purchasing an additional 197 shares in the last quarter. Good Life Advisors LLC increased its holdings in shares of Eaton by 46.0% during the third quarter. Good Life Advisors LLC now owns 2,839 shares of the industrial products company’s stock valued at $941,000 after purchasing an additional 895 shares during the period. Finally, Buffington Mohr McNeal raised its stake in shares of Eaton by 6.2% during the third quarter. Buffington Mohr McNeal now owns 3,402 shares of the industrial products company’s stock valued at $1,128,000 after purchasing an additional 200 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Insiders Place Their Bets

In other news, Director Gregory R. Page sold 10,000 shares of the company’s stock in a transaction 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 of the company’s stock, valued at approximately $15,379,403.94. This represents a 18.80 % decrease in their ownership of the stock. The transaction 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 Eaton stock in a transaction on 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. The trade was a 4.33 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.53% of the company’s stock.

Eaton Stock Up 0.5 %

Shares of NYSE:ETN opened at $309.21 on Friday. The firm has a 50 day simple moving average of $338.45 and a 200 day simple moving average of $331.30. Eaton Co. plc has a 52 week low of $255.65 and a 52 week high of $379.99. 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 cap of $122.20 billion, a PE ratio of 32.55, a price-to-earnings-growth ratio of 2.37 and a beta of 1.05.

Eaton (NYSE:ETN) last released its 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 period last year, the company earned $2.55 earnings per share. As a group, research analysts expect that Eaton Co. plc will post 12.04 earnings per share for the current year.

Analysts Set New Price Targets

ETN has been the topic of several research analyst reports. JPMorgan Chase & Co. lowered their target price on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. Barclays boosted their target price on Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Wells Fargo & Company decreased their price target on Eaton from $350.00 to $335.00 and set an “equal weight” rating for the company in a research note on Monday, February 3rd. Mizuho boosted their price objective on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, Bank of America raised their target price on Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average 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.