New England Research & Management Inc. Acquires 1,725 Shares of Eaton Co. plc (NYSE:ETN)

New England Research & Management Inc. increased its stake in Eaton Co. plc (NYSE:ETN) by 128.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,069 shares of the industrial products company’s stock after purchasing an additional 1,725 shares during the period. New England Research & Management Inc.’s holdings in Eaton were worth $1,019,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ascent Group LLC lifted its stake in Eaton by 7.2% during the 2nd quarter. Ascent Group LLC now owns 792 shares of the industrial products company’s stock worth $248,000 after acquiring an additional 53 shares in the last quarter. Quarry LP purchased a new stake in Eaton in the second quarter valued at approximately $84,000. Dana Investment Advisors Inc. raised its stake in Eaton by 1.4% during the 2nd quarter. Dana Investment Advisors Inc. now owns 23,461 shares of the industrial products company’s stock valued at $7,356,000 after acquiring an additional 334 shares during the last quarter. Gordian Capital Singapore Pte Ltd purchased a new position in Eaton during the second quarter worth about $182,000. Finally, Sanctuary Advisors LLC purchased a new stake in shares of Eaton in the second quarter valued at approximately $27,653,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insiders Place Their Bets

In other news, Director Gregory R. Page sold 4,000 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $335.30, for a total value of $1,341,200.00. Following the completion of the sale, the director now owns 51,422 shares in the company, valued at approximately $17,241,796.60. This trade represents a 7.22 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Craig Arnold sold 61,569 shares of the company’s stock in a transaction on 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 transaction, the insider now directly owns 506,360 shares in the company, valued at $182,780,769.20. This represents a 10.84 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 76,981 shares of company stock valued at $27,660,117. Company insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Melius Research reissued a “hold” rating and set a $373.00 price objective on shares of Eaton in a research note on Tuesday. Sanford C. Bernstein began coverage on shares of Eaton in a research note on Tuesday, November 5th. They set an “outperform” rating and a $382.00 price target on the stock. Melius downgraded Eaton from a “buy” rating to a “hold” rating and set a $373.00 price target for the company. in a report on Tuesday. Bank of America lifted their price objective on shares of Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, Jefferies Financial Group increased their price objective on shares of Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a report on Friday, December 6th. Six 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, Eaton has an average rating of “Moderate Buy” and an average target price of $369.30.

Eaton Price Performance

NYSE:ETN opened at $317.90 on Thursday. The firm has a market capitalization of $125.63 billion, a price-to-earnings ratio of 33.82, a PEG ratio of 2.57 and a beta of 1.06. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00. The business has a 50 day simple moving average of $351.98 and a 200-day simple moving average of $331.21. Eaton Co. plc has a 1 year low of $245.65 and a 1 year high of $379.99.

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

Eaton Profile

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.