Parcion Private Wealth LLC Acquires 21,719 Shares of Eaton Co. plc (NYSE:ETN)

Parcion Private Wealth LLC increased its stake in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 313.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 28,637 shares of the industrial products company's stock after acquiring an additional 21,719 shares during the period. Parcion Private Wealth LLC's holdings in Eaton were worth $9,504,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of ETN. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Eaton by 253.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,273,685 shares of the industrial products company's stock valued at $753,590,000 after purchasing an additional 1,629,856 shares during the period. International Assets Investment Management LLC raised its stake in Eaton by 27,075.5% in the third quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company's stock valued at $355,959,000 after buying an additional 1,070,024 shares during the period. Janus Henderson Group PLC lifted its position in shares of Eaton by 32.8% in the third quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company's stock valued at $801,798,000 after buying an additional 597,700 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in shares of Eaton during the 3rd quarter worth approximately $137,794,000. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Eaton by 3,508.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 401,728 shares of the industrial products company's stock worth $133,321,000 after acquiring an additional 390,595 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on ETN shares. Mizuho lifted their price objective 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. Jefferies Financial Group lifted their target price on shares of Eaton from $400.00 to $440.00 and gave the stock a "buy" rating in a report on Friday, December 6th. Royal Bank of Canada lowered their price target on shares of Eaton from $407.00 to $405.00 and set an "outperform" rating on the stock in a report on Monday, February 3rd. Bank of America boosted their price objective on Eaton from $350.00 to $410.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. Finally, Wells Fargo & Company lowered their target price on 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 research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $366.05.

Insiders Place Their Bets

In other news, Director Gregory R. Page sold 10,000 shares of the business's 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 owns 43,203 shares of the company's stock, valued at approximately $15,379,403.94. The trade was a 18.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the firm's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $378.58, for a total value of $534,554.96. Following the completion of the sale, the insider now directly owns 31,200 shares in the company, valued at $11,811,696. This trade represents a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.53% of the company's stock.

Eaton Price Performance

ETN stock traded down $11.71 during midday trading on Friday, reaching $297.11. The company had a trading volume of 4,399,446 shares, compared to its average volume of 3,361,916. Eaton Co. plc has a 1-year low of $255.65 and a 1-year high of $379.99. The stock has a 50 day moving average price of $333.15 and a 200-day moving average price of $331.88. 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 company has a market capitalization 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 issued 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 period in the previous year, the firm posted $2.55 earnings per share. Equities research analysts expect that Eaton Co. plc will post 12.02 earnings per share for the current 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.