Commonwealth Financial Services LLC Buys 115 Shares of Eaton Co. plc (NYSE:ETN)

Commonwealth Financial Services LLC raised its stake in Eaton Co. plc (NYSE:ETN) by 11.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,142 shares of the industrial products company’s stock after buying an additional 115 shares during the period. Commonwealth Financial Services LLC’s holdings in Eaton were worth $379,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in ETN. Groupama Asset Managment increased its stake 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 acquiring an additional 4,298 shares during the last quarter. Horizon Bancorp Inc. IN raised its holdings in shares of 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 buying an additional 74 shares in the last quarter. Morse Asset Management Inc bought a new stake in Eaton in the 3rd quarter worth approximately $33,000. West Financial Advisors LLC bought a new position in Eaton during the third quarter valued at approximately $35,000. Finally, DT Investment Partners LLC purchased a new position in shares of Eaton during the third quarter worth approximately $37,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Stock Down 3.3 %

NYSE ETN opened at $315.74 on Tuesday. The business’s fifty day simple moving average is $349.23 and its 200-day simple moving average is $331.21. Eaton Co. plc has a 52 week low of $255.65 and a 52 week high of $379.99. 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 cap of $124.78 billion, a PE ratio of 33.24, a P/E/G ratio of 2.27 and a beta of 1.05.

Eaton (NYSE:ETN) last released its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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. As a group, equities analysts anticipate that Eaton Co. plc will post 12 earnings per share for the current year.

Insider Activity at Eaton

In other news, insider Ernest W. Marshall, Jr. sold 1,412 shares of Eaton stock in a transaction dated 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. The trade was a 4.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gregory R. Page sold 10,000 shares of the company’s stock in a transaction on 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 directly owns 43,203 shares in the company, valued at $15,379,403.94. This represents a 18.80 % decrease in their position. 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. Insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ETN. UBS Group began coverage on Eaton in a research note on Wednesday, November 13th. They issued a “buy” rating and a $431.00 target price for the company. Wells Fargo & Company cut their price target on Eaton from $350.00 to $335.00 and set an “equal weight” rating on the stock in a research note on Monday. Citigroup dropped their target price on shares of Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Bank of America boosted their target price on Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, Melius cut Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price on the stock. in a research report on Tuesday, January 28th. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $369.20.

About Eaton

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.