Janney Montgomery Scott LLC Acquires 33,551 Shares of Eaton Co. plc (NYSE:ETN)

Janney Montgomery Scott LLC boosted its stake in Eaton Co. plc (NYSE:ETN) by 8.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 455,344 shares of the industrial products company’s stock after purchasing an additional 33,551 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Eaton were worth $151,115,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. B. Riley Wealth Advisors Inc. increased its position in shares of Eaton by 48.9% during the third quarter. B. Riley Wealth Advisors Inc. now owns 41,106 shares of the industrial products company’s stock valued at $13,533,000 after buying an additional 13,497 shares during the period. Ballentine Partners LLC boosted its position in Eaton by 9.3% during the 4th quarter. Ballentine Partners LLC now owns 9,256 shares of the industrial products company’s stock valued at $3,072,000 after acquiring an additional 790 shares in the last quarter. Dakota Wealth Management raised its position in shares of Eaton by 8.8% in the 4th quarter. Dakota Wealth Management now owns 49,436 shares of the industrial products company’s stock worth $16,406,000 after acquiring an additional 4,011 shares in the last quarter. Scientech Research LLC lifted its stake in shares of Eaton by 285.5% in the 2nd quarter. Scientech Research LLC now owns 5,744 shares of the industrial products company’s stock valued at $1,801,000 after purchasing an additional 4,254 shares during the period. Finally, Eastover Investment Advisors LLC bought a new stake in shares of Eaton during the fourth quarter valued at approximately $6,167,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. decreased their price objective on Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Jefferies Financial Group boosted their price objective on shares of Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Royal Bank of Canada raised their target price on shares of Eaton from $374.00 to $392.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Mizuho boosted their price target on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Wells Fargo & Company reduced their price objective on Eaton from $365.00 to $350.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $368.89.

Insider Buying and Selling at Eaton

In other news, Director Gregory R. Page sold 4,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $335.30, for a total value of $1,341,200.00. Following the transaction, the director now owns 51,422 shares of the company’s stock, valued at $17,241,796.60. This trade represents a 7.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $378.58, for a total transaction of $534,554.96. Following the completion of the sale, the insider now directly owns 31,200 shares of the company’s stock, valued at $11,811,696. This represents a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 76,981 shares of company stock worth $27,660,117 in the last three months. 0.53% of the stock is currently owned by company insiders.

Eaton Stock Up 3.8 %

ETN opened at $371.36 on Thursday. The stock has a market capitalization of $146.76 billion, a price-to-earnings ratio of 39.51, a PEG ratio of 2.48 and a beta of 1.06. The firm has a 50 day moving average price of $353.58 and a 200-day moving average price of $330.45. Eaton Co. plc has a twelve month low of $239.17 and a twelve month high of $379.99. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45.

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