New England Research & Management Inc. Increases Stock Holdings in Eaton Co. plc (NYSE:ETN)

New England Research & Management Inc. grew its holdings in Eaton Co. plc (NYSE:ETN - Free Report) by 128.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,069 shares of the industrial products company's stock after purchasing an additional 1,725 shares during the period. New England Research & Management Inc.'s holdings in Eaton were worth $1,019,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Wetzel Investment Advisors Inc. increased its holdings in shares of Eaton by 0.9% in the 4th quarter. Wetzel Investment Advisors Inc. now owns 3,101 shares of the industrial products company's stock valued at $1,029,000 after purchasing an additional 28 shares during the period. Strategic Wealth Partners Ltd. lifted its position 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 buying an additional 30 shares in the last quarter. Fairfield Financial Advisors LTD boosted its stake in shares of Eaton by 16.2% during the 3rd quarter. Fairfield Financial Advisors LTD now owns 215 shares of the industrial products company's stock valued at $71,000 after buying an additional 30 shares during the period. Westmount Partners LLC raised its holdings 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 worth $327,000 after acquiring an additional 30 shares in the last quarter. Finally, Signal Advisors Wealth LLC grew its stake in Eaton by 3.5% in the fourth quarter. Signal Advisors Wealth LLC now owns 896 shares of the industrial products company's stock valued at $297,000 after purchasing an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

Eaton Trading Up 3.6 %

Shares of Eaton stock traded up $11.35 during trading on Thursday, reaching $328.95. The company's stock had a trading volume of 2,641,365 shares, compared to its average volume of 3,385,257. The firm's 50-day moving average is $351.13 and its two-hundred day moving average is $331.12. Eaton Co. plc has a 52-week low of $245.65 and a 52-week high of $379.99. The company has a market cap of $130.00 billion, a price-to-earnings ratio of 34.97, a PEG ratio of 2.57 and a beta of 1.06. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45.

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

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Citigroup reduced their price target on Eaton from $440.00 to $410.00 and set a "buy" rating for the company in a report on Monday, January 13th. Royal Bank of Canada boosted their price objective on Eaton from $374.00 to $392.00 and gave the stock an "outperform" rating in a research report on Friday, January 3rd. Wells Fargo & Company reduced their target price on shares of Eaton from $365.00 to $350.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 7th. Melius lowered shares of Eaton from a "buy" rating to a "hold" rating and set a $373.00 price target on the stock. in a report on Tuesday. Finally, Mizuho boosted their price target on Eaton from $365.00 to $385.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $369.30.

Insiders Place Their Bets

In related news, Director Gregory R. Page sold 4,000 shares of the firm's stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $335.30, for a total value of $1,341,200.00. Following the transaction, the director now owns 51,422 shares of the company's stock, valued at approximately $17,241,796.60. This trade represents a 7.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Craig Arnold sold 61,569 shares of the firm's stock in a transaction that occurred on 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 owns 506,360 shares in the company, valued at approximately $182,780,769.20. The trade was a 10.84 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 76,981 shares of company stock valued at $27,660,117. Insiders own 0.53% of the company's stock.

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.