Ibex Wealth Advisors Purchases New Position in Eaton Co. plc (NYSE:ETN)

Ibex Wealth Advisors purchased a new stake in Eaton Co. plc (NYSE:ETN - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,071 shares of the industrial products company's stock, valued at approximately $355,000.

Several other large investors have also bought and sold shares of the stock. Wetzel Investment Advisors Inc. grew its holdings in shares of Eaton by 0.9% in the fourth quarter. Wetzel Investment Advisors Inc. now owns 3,101 shares of the industrial products company's stock worth $1,029,000 after purchasing an additional 28 shares during the last quarter. Strategic Wealth Partners Ltd. grew its holdings in Eaton by 3.0% in the 3rd quarter. Strategic Wealth Partners Ltd. now owns 1,027 shares of the industrial products company's stock worth $340,000 after acquiring an additional 30 shares during the last quarter. Fairfield Financial Advisors LTD increased its position in shares of Eaton by 16.2% in the third quarter. Fairfield Financial Advisors LTD now owns 215 shares of the industrial products company's stock valued at $71,000 after acquiring an additional 30 shares during the period. Westmount Partners LLC raised its stake in shares of Eaton by 3.1% during the fourth quarter. Westmount Partners LLC now owns 985 shares of the industrial products company's stock valued at $327,000 after acquiring an additional 30 shares during the last quarter. Finally, Signal Advisors Wealth LLC boosted its holdings in shares of Eaton by 3.5% during the fourth quarter. Signal Advisors Wealth LLC now owns 896 shares of the industrial products company's stock worth $297,000 after purchasing an additional 30 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Eaton Stock Performance

Shares of NYSE:ETN traded up $8.42 during trading on Thursday, hitting $326.02. The company's stock had a trading volume of 1,810,369 shares, compared to its average volume of 3,337,580. The company has a 50-day moving average of $351.13 and a 200-day moving average of $331.12. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00. The firm has a market cap of $128.84 billion, a price-to-earnings ratio of 34.63, a P/E/G ratio of 2.57 and a beta of 1.06. Eaton Co. plc has a 12 month low of $245.65 and a 12 month high of $379.99.

Eaton (NYSE:ETN - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, topping the consensus estimate of $2.80 by $0.04. The firm had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The business's revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter last year, the company earned $2.47 earnings per share. On average, sell-side analysts expect that Eaton Co. plc will post 10.79 earnings per share for the current year.

Insider Buying and Selling

In other Eaton news, insider Craig Arnold sold 61,569 shares of the firm's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the sale, the insider now directly owns 506,360 shares of the company's stock, valued at $182,780,769.20. This trade represents a 10.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gregory R. Page sold 10,000 shares of the company's stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $355.98, for a total value 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 trade represents a 18.80 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 76,981 shares of company stock valued at $27,660,117. 0.53% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Mizuho upped their price target on Eaton from $365.00 to $385.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. Sanford C. Bernstein assumed coverage on Eaton in a research note on Tuesday, November 5th. They issued an "outperform" rating and a $382.00 price target on the stock. Barclays raised their price objective on Eaton from $320.00 to $353.00 and gave the company an "equal weight" rating in a research report on Thursday, December 5th. Bank of America upped their target price on shares of Eaton from $350.00 to $410.00 and gave the stock a "buy" rating in a research report on Wednesday, November 13th. Finally, UBS Group started coverage on shares of Eaton in a research report on Wednesday, November 13th. They set a "buy" rating and a $431.00 price target for the company. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $369.30.

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.