Lmcg Investments LLC Buys Shares of 9,605 Eaton Co. plc (NYSE:ETN)

Lmcg Investments LLC bought a new position in Eaton Co. plc (NYSE:ETN) in the 4th quarter, HoldingsChannel reports. The fund bought 9,605 shares of the industrial products company’s stock, valued at approximately $3,188,000.

Several other large investors have also recently bought and sold shares of the business. Horizon Bancorp Inc. IN increased its holdings in shares of 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 purchasing an additional 74 shares during the period. Morse Asset Management Inc acquired a new position in Eaton in the 3rd quarter valued at approximately $33,000. West Financial Advisors LLC acquired a new stake in shares of Eaton during the 3rd quarter valued at $35,000. DT Investment Partners LLC acquired a new position in shares of Eaton in the third quarter worth $37,000. Finally, RPg Family Wealth Advisory LLC purchased a new stake in shares of Eaton during the third quarter worth $44,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Eaton Stock Performance

NYSE ETN opened at $346.54 on Tuesday. Eaton Co. plc has a 1-year low of $236.20 and a 1-year high of $379.99. The company has a 50 day moving average of $354.32 and a 200-day moving average of $329.97. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. The firm has a market cap of $136.95 billion, a price-to-earnings ratio of 36.87, a PEG ratio of 2.40 and a beta of 1.06.

Eaton (NYSE:ETN) last released its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.80 by $0.04. The firm had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The business’s revenue was up 7.9% on a year-over-year basis. During the same period last year, the firm posted $2.47 EPS. On average, equities analysts forecast that Eaton Co. plc will post 10.79 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on ETN shares. Jefferies Financial Group upped their target price on Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Bank of America lifted their target price on shares of Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Royal Bank of Canada raised their price objective on Eaton from $374.00 to $392.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Mizuho raised their price target on shares of Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Wells Fargo & Company cut their price objective on shares of Eaton from $365.00 to $350.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $368.89.

Insider Activity 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 transaction 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the 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 sale, the insider now directly owns 31,200 shares in the company, valued at $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 76,981 shares of company stock valued at $27,660,117 over the last ninety days. 0.33% of the stock is owned by insiders.

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.