Eaton Co. plc (NYSE:ETN) Shares Acquired by Stratos Wealth Partners LTD.

Stratos Wealth Partners LTD. lifted its holdings in Eaton Co. plc (NYSE:ETN) by 5.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,023 shares of the industrial products company’s stock after purchasing an additional 1,436 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Eaton were worth $9,632,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Groupama Asset Managment boosted its position in Eaton by 83.2% in the third quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock valued at $31,000 after buying an additional 4,298 shares during the last quarter. Horizon Bancorp Inc. IN lifted its stake in Eaton by 321.7% during the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 74 shares during the period. Morse Asset Management Inc acquired a new stake in shares of Eaton in the third quarter worth $33,000. West Financial Advisors LLC purchased a new position in shares of Eaton during the third quarter worth $35,000. Finally, DT Investment Partners LLC acquired a new position in Eaton during the third quarter valued at $37,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Eaton Trading Up 0.1 %

Shares of Eaton stock opened at $315.04 on Thursday. The business has a 50 day moving average price of $346.77 and a 200 day moving average price of $331.28. The company has a market capitalization of $124.50 billion, a P/E ratio of 33.16, a P/E/G ratio of 2.27 and a beta of 1.05. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. Eaton Co. plc has a 1 year low of $255.65 and a 1 year high of $379.99.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) 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 period in the prior year, the company earned $2.55 EPS. Sell-side analysts anticipate that Eaton Co. plc will post 12 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ETN. Barclays boosted their price objective on Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Melius Research restated a “hold” rating and issued a $373.00 price objective on shares of Eaton in a research report on Tuesday, January 28th. Jefferies Financial Group lifted their target price on shares of Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a report on Friday, December 6th. Mizuho increased their price target on shares of Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, Royal Bank of Canada cut their price objective on shares of Eaton from $407.00 to $405.00 and set an “outperform” rating for the company in a report on Monday. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $369.20.

Insider Transactions at Eaton

In other news, insider Ernest W. Marshall, Jr. sold 1,412 shares of Eaton stock in a transaction 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 of the company’s stock, valued at $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 available at the SEC website. Also, Director Gregory R. Page sold 10,000 shares of the stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $355.98, for a total value of $3,559,800.00. Following the transaction, the director now owns 43,203 shares in the company, valued at $15,379,403.94. This trade represents a 18.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

Eaton Company 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.