Citizens & Northern Corp Grows Stock Position in Eaton Co. plc (NYSE:ETN)

Citizens & Northern Corp raised its position in Eaton Co. plc (NYSE:ETN - Free Report) by 348.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,148 shares of the industrial products company's stock after purchasing an additional 3,223 shares during the quarter. Citizens & Northern Corp's holdings in Eaton were worth $1,377,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. B. Riley Wealth Advisors Inc. lifted its position in Eaton by 48.9% in 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 last quarter. Lighthouse Wealth Management Inc. purchased a new stake in shares of Eaton in the 4th quarter valued at approximately $297,000. Webster Bank N. A. lifted its holdings in shares of Eaton by 52.4% in the 4th quarter. Webster Bank N. A. now owns 17,925 shares of the industrial products company's stock worth $5,949,000 after acquiring an additional 6,166 shares during the last quarter. Ballentine Partners LLC boosted its position in shares of Eaton by 9.3% during the 4th quarter. Ballentine Partners LLC now owns 9,256 shares of the industrial products company's stock worth $3,072,000 after purchasing an additional 790 shares during the period. Finally, Blue Trust Inc. increased its holdings in Eaton by 13.2% in the 4th quarter. Blue Trust Inc. now owns 14,494 shares of the industrial products company's stock valued at $4,804,000 after purchasing an additional 1,694 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

Insider Activity

In other news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the firm's stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $378.58, for a total transaction of $534,554.96. Following the transaction, the insider now directly owns 31,200 shares in the company, valued at approximately $11,811,696. This trade represents a 4.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 sale, the director now owns 43,203 shares of the company's stock, valued at approximately $15,379,403.94. This represents 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 Down 3.8 %

ETN stock traded down $11.71 during midday trading on Friday, reaching $297.11. 4,399,446 shares of the company were exchanged, compared to its average volume of 3,361,916. The stock's 50-day simple moving average is $331.97 and its 200 day simple moving average is $332.05. Eaton Co. plc has a 1-year low of $255.65 and a 1-year high of $379.99. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. The company has a market cap of $117.42 billion, a price-to-earnings ratio of 31.27, a price-to-earnings-growth ratio of 2.65 and a beta of 1.05.

Eaton (NYSE:ETN - Get Free Report) last announced its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, topping 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 company posted $2.55 EPS. On average, equities analysts forecast that Eaton Co. plc will post 12.02 earnings per share for the current year.

Analysts Set New Price Targets

ETN has been the subject of several research analyst reports. Royal Bank of Canada lowered their price target on Eaton from $407.00 to $405.00 and set an "outperform" rating for the company in a research report on Monday, February 3rd. Bank of America raised their target price on Eaton from $350.00 to $410.00 and gave the company a "buy" rating in a report on Wednesday, November 13th. Wells Fargo & Company cut their price target on shares of Eaton from $350.00 to $335.00 and set an "equal weight" rating on the stock in a research note on Monday, February 3rd. Barclays raised their price objective on shares of Eaton from $320.00 to $353.00 and gave the company an "equal weight" rating in a research note on Thursday, December 5th. Finally, Jefferies Financial Group upped their target price 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. Seven 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.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $366.05.

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.