Schear Investment Advisers LLC Makes New Investment in Eaton Co. plc (NYSE:ETN)

Schear Investment Advisers LLC acquired a new position in Eaton Co. plc (NYSE:ETN - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,817 shares of the industrial products company's stock, valued at approximately $935,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. B. Riley Wealth Advisors Inc. raised its holdings in Eaton by 48.9% in the 3rd 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 last quarter. Lighthouse Wealth Management Inc. purchased a new position in Eaton in the 4th quarter worth approximately $297,000. Webster Bank N. A. raised its holdings in Eaton by 52.4% in the 4th quarter. Webster Bank N. A. now owns 17,925 shares of the industrial products company's stock worth $5,949,000 after acquiring an additional 6,166 shares during the last quarter. Ballentine Partners LLC raised its holdings in Eaton by 9.3% in the 4th quarter. Ballentine Partners LLC now owns 9,256 shares of the industrial products company's stock worth $3,072,000 after acquiring an additional 790 shares during the last quarter. Finally, Blue Trust Inc. raised 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 acquiring an additional 1,694 shares during the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

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Eaton Price Performance

Shares of NYSE ETN traded up $1.40 during mid-day trading on Friday, hitting $309.21. 3,174,331 shares of the company's stock traded hands, compared to its average volume of 3,669,676. The company's 50-day moving average is $337.21 and its two-hundred day moving average is $331.39. 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 $122.20 billion, a P/E ratio of 32.55, a PEG ratio of 2.37 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.

Eaton (NYSE:ETN - Get Free Report) last issued its quarterly 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 quarter in the prior year, the business posted $2.55 EPS. On average, equities analysts anticipate that Eaton Co. plc will post 12.04 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Barclays boosted their price objective on shares of Eaton from $320.00 to $353.00 and gave the stock an "equal weight" rating in a report on Thursday, December 5th. Melius downgraded shares of Eaton from a "buy" rating to a "hold" rating and set a $373.00 target price for the company. in a research report on Tuesday, January 28th. Evercore ISI downgraded shares of Eaton from an "outperform" rating to an "inline" rating and lifted their target price for the stock from $333.00 to $389.00 in a research report on Wednesday, November 13th. Citigroup cut their target price on shares of Eaton from $440.00 to $410.00 and set a "buy" rating for the company in a research report on Monday, January 13th. Finally, Royal Bank of Canada cut their target price on shares of Eaton from $407.00 to $405.00 and set an "outperform" rating for the company in a research report on Monday, February 3rd. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Eaton presently has a consensus rating of "Moderate Buy" and a consensus price target of $369.20.

Insider Activity at Eaton

In related news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the company'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 approximately $11,811,696. This represents a 4.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gregory R. Page sold 10,000 shares of the company's stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the transaction, the director now owns 43,203 shares in the company, valued at $15,379,403.94. The trade was a 18.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by insiders.

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.