CogentBlue Wealth Advisors LLC Invests $670,000 in Eaton Co. plc (NYSE:ETN)

CogentBlue Wealth Advisors LLC purchased a new position in shares of Eaton Co. plc (NYSE:ETN - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,019 shares of the industrial products company's stock, valued at approximately $670,000.

Several other large investors have also recently added to or reduced their stakes in the company. Groupama Asset Managment grew its position in shares of 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 purchasing an additional 4,298 shares during the last quarter. Horizon Bancorp Inc. IN raised its stake in Eaton by 321.7% during the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company's stock worth $32,000 after purchasing an additional 74 shares during the period. Morse Asset Management Inc purchased a new position in shares of Eaton in the 3rd quarter valued at $33,000. Activest Wealth Management raised its stake in shares of Eaton by 621.4% in the 4th quarter. Activest Wealth Management now owns 101 shares of the industrial products company's stock valued at $34,000 after acquiring an additional 87 shares during the period. Finally, DT Investment Partners LLC purchased a new position in shares of Eaton in the 3rd quarter valued at $37,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on ETN shares. Melius downgraded shares of Eaton from a "buy" rating to a "hold" rating and set a $373.00 target price on the stock. in a research note on Tuesday, January 28th. UBS Group started coverage on shares of Eaton in a research note on Wednesday, November 13th. They issued a "buy" rating and a $431.00 target price on the stock. Barclays raised their target price 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. Melius Research reissued a "hold" rating and issued a $373.00 target price on shares of Eaton in a research note on Tuesday, January 28th. Finally, Wells Fargo & Company cut their target price 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. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $366.05.

Eaton Stock Down 3.9 %

ETN stock traded down $12.03 during mid-day trading on Friday, hitting $296.79. 3,264,771 shares of the company were exchanged, compared to its average volume of 3,319,729. The company has a market capitalization of $117.29 billion, a PE ratio of 31.27, a price-to-earnings-growth ratio of 2.65 and a beta of 1.05. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. Eaton Co. plc has a twelve month low of $255.65 and a twelve month high of $379.99. The firm has a fifty day simple moving average of $333.15 and a 200 day simple moving average of $331.88.

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

Insider Activity

In other news, insider Ernest W. Marshall, Jr. sold 1,412 shares of Eaton stock in a transaction that occurred 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 transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Gregory R. Page sold 10,000 shares of Eaton stock in a transaction that occurred 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 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. Company insiders own 0.53% of the company's stock.

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.