Consolidated Planning Corp Has $8.17 Million Stock Position in Eaton Co. plc (NYSE:ETN)

Consolidated Planning Corp lifted its stake in shares of Eaton Co. plc (NYSE:ETN) by 2.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,632 shares of the industrial products company’s stock after acquiring an additional 703 shares during the period. Eaton makes up about 1.1% of Consolidated Planning Corp’s investment portfolio, making the stock its 24th largest holding. Consolidated Planning Corp’s holdings in Eaton were worth $8,174,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in ETN. Creative Planning grew its position in Eaton by 2.7% in the third quarter. Creative Planning now owns 181,067 shares of the industrial products company’s stock valued at $60,013,000 after purchasing an additional 4,705 shares in the last quarter. Bill Few Associates Inc. grew its stake in Eaton by 2.7% in the third quarter. Bill Few Associates Inc. now owns 8,510 shares of the industrial products company’s stock valued at $2,820,000 after purchasing an additional 222 shares in the last quarter. Proquility Private Wealth Partners LLC increased its position in shares of Eaton by 9.3% during the 3rd quarter. Proquility Private Wealth Partners LLC now owns 8,260 shares of the industrial products company’s stock worth $2,738,000 after purchasing an additional 702 shares during the last quarter. SeaCrest Wealth Management LLC raised its stake in shares of Eaton by 1.4% during the 3rd quarter. SeaCrest Wealth Management LLC now owns 5,657 shares of the industrial products company’s stock worth $1,875,000 after purchasing an additional 78 shares in the last quarter. Finally, Sumitomo Life Insurance Co. grew its stake in shares of Eaton by 1.6% in the third quarter. Sumitomo Life Insurance Co. now owns 12,968 shares of the industrial products company’s stock valued at $4,298,000 after buying an additional 209 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Gregory R. Page sold 10,000 shares of Eaton stock in a transaction 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 owns 43,203 shares in the company, valued at approximately $15,379,403.94. The trade was 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 the SEC website. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the firm’s 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 transaction, the insider now directly owns 31,200 shares of the company’s stock, valued at approximately $11,811,696. This represents a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.53% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Barclays raised 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. Mizuho increased their price objective on shares of Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. UBS Group initiated coverage on shares of Eaton in a research note on Wednesday, November 13th. They issued a “buy” rating and a $431.00 price target on the stock. Evercore ISI downgraded shares of Eaton from an “outperform” rating to an “inline” rating and raised their price objective for the stock from $333.00 to $389.00 in a research report on Wednesday, November 13th. Finally, Wells Fargo & Company lowered their target price on Eaton from $350.00 to $335.00 and set an “equal weight” rating on the stock in a research note on Monday, February 3rd. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Eaton presently has a consensus rating of “Moderate Buy” and an average target price of $369.20.

Eaton Stock Performance

NYSE:ETN opened at $309.93 on Thursday. 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 firm has a market capitalization of $122.48 billion, a PE ratio of 32.62, a price-to-earnings-growth ratio of 2.37 and a beta of 1.05. Eaton Co. plc has a twelve month low of $255.65 and a twelve month high of $379.99. The stock’s 50-day simple moving average is $341.07 and its 200 day simple moving average is $331.62.

Eaton (NYSE:ETN) last announced its quarterly earnings results 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 net margin of 15.25% and a return on equity of 22.62%. During the same quarter last year, the firm posted $2.55 EPS. On average, analysts anticipate that Eaton Co. plc will post 12.04 EPS for the current fiscal year.

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.