JB Capital LLC Raises Position in Eaton Co. plc (NYSE:ETN)

JB Capital LLC grew its position in shares of Eaton Co. plc (NYSE:ETN) by 2.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 11,801 shares of the industrial products company’s stock after purchasing an additional 297 shares during the period. JB Capital LLC’s holdings in Eaton were worth $3,916,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Groupama Asset Managment boosted its holdings in Eaton by 83.2% in the third quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 4,298 shares during the last quarter. Horizon Bancorp Inc. IN boosted its stake 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 worth $32,000 after buying an additional 74 shares during the last quarter. Morse Asset Management Inc bought a new stake in shares of Eaton in the third quarter worth $33,000. West Financial Advisors LLC purchased a new stake in Eaton during the third quarter valued at $35,000. Finally, DT Investment Partners LLC bought a new position in Eaton in the third quarter valued at about $37,000. Institutional investors own 82.97% of the company’s stock.

Eaton Stock Performance

Shares of NYSE:ETN opened at $326.32 on Monday. The firm has a fifty day simple moving average of $349.23 and a two-hundred day simple moving average of $331.07. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $128.96 billion, a P/E ratio of 34.35, a PEG ratio of 2.27 and a beta of 1.05. Eaton Co. plc has a 52 week low of $245.65 and a 52 week high of $379.99.

Eaton (NYSE:ETN) last released its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, beating the consensus estimate 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 quarter last year, the firm posted $2.55 EPS. On average, analysts expect that Eaton Co. plc will post 12 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Evercore ISI cut shares of Eaton from an “outperform” rating to an “inline” rating and upped their target price for the company from $333.00 to $389.00 in a report on Wednesday, November 13th. Barclays lifted their price objective on Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Wells Fargo & Company reduced their target price on shares of Eaton from $365.00 to $350.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Royal Bank of Canada lifted their price target on shares of Eaton from $374.00 to $392.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Finally, Melius Research reissued a “hold” rating and issued a $373.00 price objective on shares of Eaton in a research note on Tuesday, January 28th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Eaton currently has a consensus rating of “Moderate Buy” and an average price target of $369.30.

Insider Buying and Selling

In related news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $378.58, for a total value of $534,554.96. Following the completion of the sale, the insider now owns 31,200 shares in the company, valued at approximately $11,811,696. The trade was a 4.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Craig Arnold sold 61,569 shares of Eaton stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total value of $22,224,561.93. Following the sale, the insider now directly owns 506,360 shares of the company’s stock, valued at approximately $182,780,769.20. This trade represents a 10.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 72,981 shares of company stock valued at $26,318,917 in the last ninety days. 0.33% of the stock is owned by company insiders.

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.