SteelPeak Wealth LLC Increases Position in Eaton Co. plc (NYSE:ETN)

SteelPeak Wealth LLC lifted its holdings in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 48.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,503 shares of the industrial products company's stock after buying an additional 1,789 shares during the quarter. SteelPeak Wealth LLC's holdings in Eaton were worth $1,826,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of ETN. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Eaton by 253.2% during 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 worth $753,590,000 after purchasing an additional 1,629,856 shares in the last quarter. International Assets Investment Management LLC lifted its position in Eaton by 27,075.5% during the third quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company's stock worth $355,959,000 after acquiring an additional 1,070,024 shares during the last quarter. Janus Henderson Group PLC grew 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 purchasing 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 third quarter worth approximately $137,794,000. Finally, Assenagon Asset Management S.A. lifted its holdings in 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 purchasing an additional 390,595 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Eaton Stock Performance

Shares of ETN traded up $9.48 on Thursday, reaching $327.08. 4,690,179 shares of the company's stock traded hands, compared to its average volume of 3,498,135. The stock's 50 day simple moving average is $351.13 and its two-hundred day simple moving average is $331.12. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. Eaton Co. plc has a 52-week low of $245.65 and a 52-week high of $379.99. The stock has a market cap of $129.26 billion, a PE ratio of 34.80, a PEG ratio of 2.57 and a beta of 1.06.

Eaton (NYSE:ETN - Get Free Report) last released 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 during the quarter, compared to the consensus estimate of $6.37 billion. During the same period in the prior year, the firm earned $2.47 EPS. The company's revenue was up 7.9% compared to the same quarter last year. On average, analysts forecast that Eaton Co. plc will post 10.79 earnings per share for the current fiscal year.

Insider Activity at Eaton

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 value of $22,224,561.93. Following the sale, the insider now owns 506,360 shares of the company's stock, valued at $182,780,769.20. This trade represents a 10.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gregory R. Page sold 10,000 shares of Eaton 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 sale, the director now directly owns 43,203 shares of the company's stock, valued at $15,379,403.94. This represents a 18.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 76,981 shares of company stock worth $27,660,117. 0.53% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. UBS Group assumed coverage on Eaton in a research note on Wednesday, November 13th. They issued a "buy" rating and a $431.00 price target on the stock. Evercore ISI downgraded Eaton from an "outperform" rating to an "inline" rating and boosted their target price for the stock from $333.00 to $389.00 in a research note on Wednesday, November 13th. Barclays lifted their price target on shares of Eaton from $320.00 to $353.00 and gave the company an "equal weight" rating in a report on Thursday, December 5th. Bank of America boosted their target price on shares of Eaton from $350.00 to $410.00 and gave the stock a "buy" rating in a research note on Wednesday, November 13th. Finally, Citigroup cut their price objective on Eaton from $440.00 to $410.00 and set a "buy" rating on the stock in a report on Monday, January 13th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $369.30.

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.