PUREfi Wealth LLC Invests $429,000 in Eaton Co. plc (NYSE:ETN)

PUREfi Wealth LLC bought a new position in Eaton Co. plc (NYSE:ETN - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 1,293 shares of the industrial products company's stock, valued at approximately $429,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. B. Riley Wealth Advisors Inc. grew its holdings in shares of Eaton by 48.9% in the third quarter. B. Riley Wealth Advisors Inc. now owns 41,106 shares of the industrial products company's stock worth $13,533,000 after acquiring an additional 13,497 shares during the period. Lighthouse Wealth Management Inc. bought a new stake in Eaton during the fourth quarter valued at about $297,000. Webster Bank N. A. lifted its position in shares of Eaton by 52.4% in the fourth quarter. Webster Bank N. A. now owns 17,925 shares of the industrial products company's stock valued at $5,949,000 after acquiring an additional 6,166 shares in the last quarter. Ballentine Partners LLC grew its position in shares of Eaton by 9.3% during the fourth quarter. Ballentine Partners LLC now owns 9,256 shares of the industrial products company's stock worth $3,072,000 after purchasing an additional 790 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in Eaton by 13.2% in the 4th quarter. Blue Trust Inc. now owns 14,494 shares of the industrial products company's stock worth $4,804,000 after purchasing an additional 1,694 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

Eaton Stock Performance

ETN traded down $3.81 on Wednesday, reaching $309.31. The company had a trading volume of 2,712,199 shares, compared to its average volume of 3,371,380. The stock has a 50-day moving average price of $335.20 and a 200-day moving average price of $332.20. The stock has a market capitalization of $122.24 billion, a PE ratio of 32.56, a P/E/G ratio of 2.64 and a beta of 1.05. Eaton Co. plc has a 1 year low of $255.65 and a 1 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.

Eaton (NYSE:ETN - Get Free Report) last announced its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.82 by $0.01. Eaton had a return on equity of 22.62% and a net margin of 15.25%. During the same period in the previous year, the firm posted $2.55 earnings per share. As a group, research analysts forecast that Eaton Co. plc will post 12.03 EPS for the current fiscal year.

Insider Buying and Selling at Eaton

In other news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the business's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $378.58, for a total transaction of $534,554.96. Following the transaction, the insider now directly 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gregory R. Page sold 10,000 shares of Eaton stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $355.98, for a total value of $3,559,800.00. Following the completion of the sale, the director now owns 43,203 shares in the company, valued at approximately $15,379,403.94. This trade represents a 18.80 % 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.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Melius Research restated a "hold" rating and set a $373.00 price objective on shares of Eaton in a research report on Tuesday, January 28th. Mizuho lifted their price target on shares of Eaton from $365.00 to $385.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. Wells Fargo & Company cut their price objective on Eaton from $350.00 to $335.00 and set an "equal weight" rating on the stock in a research report on Monday, February 3rd. Bank of America raised 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, Melius downgraded Eaton from a "buy" rating to a "hold" rating and set a $373.00 price objective for the company. in a report on Tuesday, January 28th. Seven investment 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 company presently 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.