Eaton Co. plc (NYSE:ETN) Shares Purchased by Ieq Capital LLC

Ieq Capital LLC increased its position in shares of Eaton Co. plc (NYSE:ETN) by 24.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 37,737 shares of the industrial products company’s stock after purchasing an additional 7,340 shares during the quarter. Ieq Capital LLC’s holdings in Eaton were worth $12,523,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ETN. Wetzel Investment Advisors Inc. lifted its stake in shares of Eaton by 0.9% in the fourth quarter. Wetzel Investment Advisors Inc. now owns 3,101 shares of the industrial products company’s stock worth $1,029,000 after acquiring an additional 28 shares in the last quarter. Fairfield Financial Advisors LTD increased its holdings in Eaton by 16.2% in the third quarter. Fairfield Financial Advisors LTD now owns 215 shares of the industrial products company’s stock valued at $71,000 after buying an additional 30 shares during the last quarter. Westmount Partners LLC increased its holdings in Eaton by 3.1% in the fourth quarter. Westmount Partners LLC now owns 985 shares of the industrial products company’s stock valued at $327,000 after buying an additional 30 shares during the last quarter. Signal Advisors Wealth LLC increased its holdings in Eaton by 3.5% in the fourth quarter. Signal Advisors Wealth LLC now owns 896 shares of the industrial products company’s stock valued at $297,000 after buying an additional 30 shares during the last quarter. Finally, Lantz Financial LLC increased its holdings in Eaton by 4.8% in the fourth quarter. Lantz Financial LLC now owns 659 shares of the industrial products company’s stock valued at $219,000 after buying an additional 30 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Gregory R. Page sold 10,000 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the completion of the sale, the director now owns 43,203 shares in the company, valued at approximately $15,379,403.94. This represents a 18.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $378.58, for a total value of $534,554.96. Following the sale, the insider now owns 31,200 shares of the company’s stock, valued at $11,811,696. This trade represents a 4.33 % decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Mizuho boosted their price objective on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a report on Friday, November 1st. UBS Group assumed coverage on Eaton in a report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 price objective for the company. Wells Fargo & Company lowered their price objective on Eaton from $350.00 to $335.00 and set an “equal weight” rating for the company in a report on Monday, February 3rd. Royal Bank of Canada lowered their target price on Eaton from $407.00 to $405.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. Finally, Barclays upped their target price on Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $366.05.

Eaton Stock Performance

Shares of ETN stock opened at $309.31 on Thursday. The firm has a market capitalization of $122.24 billion, a price-to-earnings ratio of 32.56, a price-to-earnings-growth ratio of 2.64 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 12-month low of $255.65 and a 12-month high of $379.99. The business has a 50 day simple moving average of $334.15 and a 200 day simple moving average of $332.04.

Eaton (NYSE:ETN) last released its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, topping analysts’ consensus estimates 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 business earned $2.55 earnings per share. On average, equities research analysts anticipate that Eaton Co. plc will post 12.03 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.