Conning Inc. Has $1.68 Million Stake in Eaton Co. plc (NYSE:ETN)

Conning Inc. lifted its stake in shares of Eaton Co. plc (NYSE:ETN) by 75.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,057 shares of the industrial products company’s stock after acquiring an additional 2,171 shares during the period. Conning Inc.’s holdings in Eaton were worth $1,678,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wetzel Investment Advisors Inc. increased its position in shares of Eaton by 0.9% during the 4th quarter. Wetzel Investment Advisors Inc. now owns 3,101 shares of the industrial products company’s stock valued at $1,029,000 after purchasing an additional 28 shares during the last quarter. Fairfield Financial Advisors LTD boosted its stake in Eaton by 16.2% in the third quarter. Fairfield Financial Advisors LTD now owns 215 shares of the industrial products company’s stock worth $71,000 after buying an additional 30 shares in the last quarter. Westmount Partners LLC grew its position in Eaton by 3.1% during the fourth quarter. Westmount Partners LLC now owns 985 shares of the industrial products company’s stock valued at $327,000 after acquiring an additional 30 shares during the last quarter. Signal Advisors Wealth LLC raised its stake in shares of Eaton by 3.5% during the fourth quarter. Signal Advisors Wealth LLC now owns 896 shares of the industrial products company’s stock worth $297,000 after acquiring an additional 30 shares in the last quarter. Finally, Lantz Financial LLC lifted its holdings in shares of Eaton by 4.8% in the 4th quarter. Lantz Financial LLC now owns 659 shares of the industrial products company’s stock worth $219,000 after acquiring an additional 30 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ETN shares. Barclays lifted their target price on shares of Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Melius downgraded Eaton from a “buy” rating to a “hold” rating and set a $373.00 price objective on the stock. in a report on Tuesday, January 28th. Evercore ISI cut Eaton from an “outperform” rating to an “inline” rating and increased their target price for the company from $333.00 to $389.00 in a report on Wednesday, November 13th. Jefferies Financial Group boosted their price objective on Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Finally, UBS Group began coverage on shares of Eaton in a report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 target price on the stock. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Eaton has an average rating of “Moderate Buy” and a consensus target price of $369.20.

Insider Activity

In other news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 31,200 shares of the company’s stock, valued at $11,811,696. The trade was a 4.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Gregory R. Page sold 10,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director now owns 43,203 shares in the company, valued at $15,379,403.94. The trade was a 18.80 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.53% of the company’s stock.

Eaton Stock Performance

Shares of ETN opened at $313.11 on Friday. Eaton Co. plc has a one year low of $255.65 and a one year high of $379.99. The company has a 50-day simple moving average of $344.50 and a two-hundred day simple moving average of $331.06. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. The firm has a market capitalization of $123.74 billion, a PE ratio of 32.96, a price-to-earnings-growth 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 EPS for the quarter, beating 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 previous year, the firm posted $2.55 earnings per share. On average, analysts anticipate that Eaton Co. plc will post 12 EPS for the current fiscal 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.