Allworth Financial LP Acquires 3,717 Shares of Eaton Co. plc (NYSE:ETN)

Allworth Financial LP increased its holdings in Eaton Co. plc (NYSE:ETN - Free Report) by 6.4% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 62,093 shares of the industrial products company's stock after acquiring an additional 3,717 shares during the period. Allworth Financial LP's holdings in Eaton were worth $20,607,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Principal Securities Inc. lifted its position in shares of Eaton by 12.7% during the 4th quarter. Principal Securities Inc. now owns 6,873 shares of the industrial products company's stock worth $2,281,000 after purchasing an additional 777 shares during the last quarter. TigerOak Management L.L.C. acquired a new stake in shares of Eaton in the 4th quarter worth $432,000. Congress Asset Management Co. increased its position in Eaton by 0.6% during the 4th quarter. Congress Asset Management Co. now owns 524,422 shares of the industrial products company's stock worth $174,040,000 after purchasing an additional 3,022 shares during the period. Vivid Wealth Management LLC acquired a new stake in shares of Eaton in the 4th quarter valued at approximately $2,133,000. Finally, Myriad Asset Management US LP purchased a new stake in shares of Eaton during the 4th quarter worth $1,987,000. Institutional investors and hedge funds own 82.97% of the company's stock.

Eaton Price Performance

Shares of ETN traded down $3.81 during midday trading on Wednesday, hitting $309.31. The company's stock had a trading volume of 2,712,199 shares, compared to its average volume of 3,371,380. Eaton Co. plc has a one year low of $255.65 and a one year 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 company's fifty day simple moving average is $335.20 and its two-hundred day simple moving average is $332.20. The stock has a market capitalization of $122.24 billion, a price-to-earnings ratio of 32.56, a price-to-earnings-growth ratio of 2.64 and a beta of 1.05.

Eaton (NYSE:ETN - Get Free Report) last posted its 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 in the prior year, the firm posted $2.55 EPS. As a group, equities analysts expect that Eaton Co. plc will post 12.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Eaton news, 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 completion of the transaction, the director now directly owns 43,203 shares of the company's stock, valued at approximately $15,379,403.94. This represents a 18.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $534,554.96. Following the completion of the transaction, the insider now owns 31,200 shares of the company's stock, valued at $11,811,696. This represents a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.33% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ETN. Evercore ISI decreased their price objective on shares of Eaton from $382.00 to $326.00 and set an "in-line" rating on the stock in a research report on Wednesday. Melius Research reissued a "hold" rating and issued a $373.00 price target on shares of Eaton 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 set a "buy" rating and a $431.00 price target on the stock. Royal Bank of Canada decreased their target price on Eaton from $407.00 to $405.00 and set an "outperform" rating for the company in a report on Monday, February 3rd. Finally, 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. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Eaton has a consensus rating of "Moderate Buy" and an average price target of $366.05.

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.