Transcendent Capital Group LLC Buys Shares of 174 Eaton Co. plc (NYSE:ETN)

Transcendent Capital Group LLC purchased a new stake in Eaton Co. plc (NYSE:ETN) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 174 shares of the industrial products company’s stock, valued at approximately $58,000.

Other large investors have also modified their holdings of the company. Geode Capital Management LLC raised its position in shares of Eaton by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 8,069,341 shares of the industrial products company’s stock worth $2,665,342,000 after buying an additional 56,516 shares during the period. Franklin Resources Inc. increased its stake in Eaton by 15.1% during the third quarter. Franklin Resources Inc. now owns 2,421,626 shares of the industrial products company’s stock worth $836,938,000 after acquiring an additional 316,830 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of Eaton by 32.8% in the 3rd quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company’s stock worth $801,798,000 after purchasing an additional 597,700 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Eaton by 253.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,273,685 shares of the industrial products company’s stock valued at $753,590,000 after purchasing an additional 1,629,856 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in shares of Eaton by 1.0% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,436,051 shares of the industrial products company’s stock worth $476,582,000 after acquiring an additional 13,862 shares in the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. reduced their target price on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. Royal Bank of Canada reissued an “outperform” rating on shares of Eaton in a report on Thursday, February 13th. Barclays increased 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. Melius Research reissued a “hold” rating and set a $373.00 price target on shares of Eaton in a research report on Tuesday, January 28th. 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 research note on Monday, January 13th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $366.05.

Eaton Stock Performance

Shares of ETN opened at $289.68 on Tuesday. Eaton Co. plc has a 52-week low of $255.65 and a 52-week high of $379.99. The firm has a market capitalization of $114.48 billion, a PE ratio of 30.49, a P/E/G ratio of 2.64 and a beta of 1.05. The firm has a 50-day moving average price of $330.66 and a 200 day moving average price of $332.83. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, beating 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 firm earned $2.55 EPS. On average, sell-side analysts anticipate that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Insider Transactions at Eaton

In related news, 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 directly owns 43,203 shares of the company’s stock, valued at $15,379,403.94. The trade was a 18.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.53% of the company’s stock.

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.