Blue Chip Partners LLC Has $16.39 Million Stock Holdings in Eaton Co. plc (NYSE:ETN)

Blue Chip Partners LLC raised its stake in Eaton Co. plc (NYSE:ETN - Free Report) by 84.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 49,383 shares of the industrial products company's stock after purchasing an additional 22,554 shares during the period. Eaton accounts for approximately 1.4% of Blue Chip Partners LLC's holdings, making the stock its 25th biggest holding. Blue Chip Partners LLC's holdings in Eaton were worth $16,389,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Groupama Asset Managment increased its position in shares of Eaton by 83.2% in the 3rd quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company's stock worth $31,000 after purchasing an additional 4,298 shares during the last quarter. Horizon Bancorp Inc. IN grew its position 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 during the last quarter. Morse Asset Management Inc bought a new stake in shares of Eaton during the 3rd quarter valued at about $33,000. Activest Wealth Management grew its position in shares of Eaton by 621.4% during the 4th quarter. Activest Wealth Management now owns 101 shares of the industrial products company's stock valued at $34,000 after buying an additional 87 shares during the last quarter. Finally, DT Investment Partners LLC bought a new stake in shares of Eaton during the 3rd quarter valued at about $37,000. Institutional investors own 82.97% of the company's stock.

Insider Activity at Eaton

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 shares were sold at an average price of $378.58, for a total transaction of $534,554.96. Following the sale, the insider now owns 31,200 shares in the company, valued at $11,811,696. The trade was a 4.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gregory R. Page sold 10,000 shares of the business's stock in a transaction that occurred on Friday, December 13th. The shares were 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 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 Price Performance

Shares of NYSE:ETN traded down $0.48 during trading on Thursday, reaching $308.95. The company had a trading volume of 1,982,892 shares, compared to its average volume of 3,330,502. The firm's fifty day moving average is $334.15 and its 200 day moving average is $332.04. The firm has a market capitalization of $122.10 billion, a PE ratio of 32.52, a price-to-earnings-growth ratio of 2.68 and a beta of 1.05. Eaton Co. plc has a twelve month low of $255.65 and a twelve month 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.

Eaton (NYSE:ETN - Get Free Report) last released its 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 quarter last year, the firm earned $2.55 earnings per share. On average, equities analysts forecast that Eaton Co. plc will post 12.02 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ETN. Barclays boosted their price objective on shares of Eaton from $320.00 to $353.00 and gave the company an "equal weight" rating in a research report on Thursday, December 5th. Jefferies Financial Group boosted their price objective on shares of Eaton from $400.00 to $440.00 and gave the company a "buy" rating in a research report on Friday, December 6th. Royal Bank of Canada lowered their price objective on shares of Eaton from $407.00 to $405.00 and set an "outperform" rating for the company in a research report on Monday, February 3rd. Mizuho upped their target price on shares of Eaton from $365.00 to $385.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. decreased their target price on shares of Eaton from $350.00 to $348.00 and set an "overweight" rating for the company in a research report on Wednesday, January 15th. Seven research analysts have rated the stock with a hold rating and thirteen have issued 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 $366.05.

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.