First Citizens Bank & Trust Co. Acquires 396 Shares of Eaton Co. plc (NYSE:ETN)

First Citizens Bank & Trust Co. lifted its holdings in Eaton Co. plc (NYSE:ETN) by 0.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 50,389 shares of the industrial products company’s stock after purchasing an additional 396 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Eaton were worth $16,723,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. grew its position in shares of Eaton by 48.9% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 41,106 shares of the industrial products company’s stock valued at $13,533,000 after purchasing an additional 13,497 shares during the period. Ballentine Partners LLC boosted its position in Eaton by 9.3% during the 4th quarter. Ballentine Partners LLC now owns 9,256 shares of the industrial products company’s stock worth $3,072,000 after acquiring an additional 790 shares during the last quarter. Dakota Wealth Management boosted its position in Eaton by 8.8% during the 4th quarter. Dakota Wealth Management now owns 49,436 shares of the industrial products company’s stock worth $16,406,000 after acquiring an additional 4,011 shares during the last quarter. Eastover Investment Advisors LLC acquired a new position in Eaton during the 4th quarter worth approximately $6,167,000. Finally, Neville Rodie & Shaw Inc. boosted its position in Eaton by 6.8% during the 4th quarter. Neville Rodie & Shaw Inc. now owns 38,386 shares of the industrial products company’s stock worth $12,739,000 after acquiring an additional 2,428 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ETN has been the subject of a number of recent research reports. Mizuho upped their price target on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. UBS Group assumed coverage on Eaton in a research note on Wednesday, November 13th. They issued a “buy” rating and a $431.00 price target on the stock. Wells Fargo & Company lowered their price objective on Eaton from $365.00 to $350.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. 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. Finally, Jefferies Financial Group increased their target price on Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Four investment 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 company has an average rating of “Moderate Buy” and an average price target of $368.89.

Insider Activity at Eaton

In other news, Director Gregory R. Page sold 4,000 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $335.30, for a total value of $1,341,200.00. Following the completion of the transaction, the director now directly owns 51,422 shares in the company, valued at approximately $17,241,796.60. This represents a 7.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Craig Arnold sold 61,569 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total value of $22,224,561.93. Following the completion of the transaction, the insider now owns 506,360 shares of the company’s stock, valued at $182,780,769.20. The trade was a 10.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 76,981 shares of company stock worth $27,660,117. 0.53% of the stock is owned by company insiders.

Eaton Stock Down 0.3 %

Shares of NYSE:ETN opened at $368.63 on Friday. The business’s 50 day moving average is $353.96 and its 200 day moving average is $331.35. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. Eaton Co. plc has a 12-month low of $241.87 and a 12-month high of $379.99. The stock has a market cap of $145.68 billion, a price-to-earnings ratio of 39.22, a PEG ratio of 2.57 and a beta of 1.06.

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

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.