Strategic Advisors LLC Raises Holdings in Eaton Co. plc (NYSE:ETN)

Strategic Advisors LLC increased its holdings in Eaton Co. plc (NYSE:ETN - Free Report) by 13.2% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 9,198 shares of the industrial products company's stock after acquiring an additional 1,075 shares during the period. Strategic Advisors LLC's holdings in Eaton were worth $3,053,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Creative Planning boosted its position in shares of Eaton by 2.7% during the third quarter. Creative Planning now owns 181,067 shares of the industrial products company's stock worth $60,013,000 after buying an additional 4,705 shares during the period. Stratos Wealth Partners LTD. boosted its position in shares of Eaton by 3.7% during the third quarter. Stratos Wealth Partners LTD. now owns 27,587 shares of the industrial products company's stock worth $9,144,000 after buying an additional 990 shares during the period. Moss Adams Wealth Advisors LLC boosted its position in shares of Eaton by 11.8% during the third quarter. Moss Adams Wealth Advisors LLC now owns 776 shares of the industrial products company's stock worth $257,000 after buying an additional 82 shares during the period. Capital Investment Advisors LLC boosted its position in shares of Eaton by 3.0% during the third quarter. Capital Investment Advisors LLC now owns 5,440 shares of the industrial products company's stock worth $1,803,000 after buying an additional 158 shares during the period. Finally, Commonwealth Equity Services LLC boosted its position in shares of Eaton by 21.2% during the third quarter. Commonwealth Equity Services LLC now owns 252,312 shares of the industrial products company's stock worth $83,626,000 after buying an additional 44,052 shares during the period. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Gregory R. Page sold 10,000 shares of Eaton stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 43,203 shares in the company, valued at $15,379,403.94. The trade was a 18.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of Eaton stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $378.58, for a total value of $534,554.96. Following the transaction, the insider now owns 31,200 shares of the company's stock, valued at $11,811,696. This represents a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.53% of the company's stock.

Analysts Set New Price Targets

ETN has been the subject of several research analyst reports. Melius Research restated a "hold" rating and set a $373.00 price target on shares of Eaton in a research report on Tuesday, January 28th. Wells Fargo & Company reduced their price objective on Eaton from $350.00 to $335.00 and set an "equal weight" rating on the stock in a research note on Monday, February 3rd. JPMorgan Chase & Co. reduced their price objective on Eaton from $350.00 to $348.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 15th. Jefferies Financial Group increased their price objective on Eaton from $400.00 to $440.00 and gave the company a "buy" rating in a research note on Friday, December 6th. Finally, Mizuho increased their price objective on Eaton from $365.00 to $385.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. 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, the stock has an average rating of "Moderate Buy" and an average price target of $366.05.

Eaton Stock Performance

ETN traded down $0.48 during trading on Thursday, reaching $308.95. The company's stock had a trading volume of 1,982,892 shares, compared to its average volume of 3,330,502. The company's fifty day moving average price is $334.15 and its 200-day moving average price is $332.04. Eaton Co. plc has a 52-week low of $255.65 and a 52-week high of $379.99. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. The company has a market capitalization of $122.10 billion, a price-to-earnings ratio of 32.52, a price-to-earnings-growth ratio of 2.68 and a beta of 1.05.

Eaton (NYSE:ETN - Get Free Report) last posted its quarterly 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 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 earnings per share. On average, equities analysts forecast that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Company 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.