Vista Capital Partners Inc. bought a new position in Eaton Co. plc (NYSE:ETN - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 810 shares of the industrial products company's stock, valued at approximately $269,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of ETN. Horizon Bancorp Inc. IN raised its holdings in shares of Eaton by 321.7% during the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company's stock worth $32,000 after acquiring an additional 74 shares in the last quarter. Morse Asset Management Inc purchased a new stake in Eaton during the third quarter valued at $33,000. Activest Wealth Management lifted its position in Eaton by 621.4% during the fourth quarter. Activest Wealth Management now owns 101 shares of the industrial products company's stock valued at $34,000 after purchasing an additional 87 shares during the last quarter. DT Investment Partners LLC bought a new stake in shares of Eaton in the 3rd quarter worth about $37,000. Finally, Hager Investment Management Services LLC purchased a new stake in shares of Eaton during the 4th quarter valued at about $38,000. Institutional investors own 82.97% of the company's stock.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on the company. Barclays boosted their price objective on Eaton from $320.00 to $353.00 and gave the stock an "equal weight" rating in a research note on Thursday, December 5th. Bank of America boosted their target price on Eaton from $350.00 to $410.00 and gave the company a "buy" rating in a research report on Wednesday, November 13th. JPMorgan Chase & Co. lowered their price target on Eaton from $350.00 to $348.00 and set an "overweight" rating for the company in a research report on Wednesday, January 15th. Wells Fargo & Company cut their price objective on shares of Eaton from $350.00 to $335.00 and set an "equal weight" rating on the stock in a research report on Monday, February 3rd. Finally, Melius Research restated a "hold" rating and issued a $373.00 target price on shares of Eaton in a report on Tuesday, January 28th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Eaton has a consensus rating of "Moderate Buy" and an average target price of $366.05.
Get Our Latest Research Report on Eaton
Eaton Trading Down 3.8 %
NYSE:ETN traded down $11.71 during midday trading on Friday, hitting $297.11. The stock had a trading volume of 4,379,460 shares, compared to its average volume of 3,332,070. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. The stock has a 50-day moving average of $333.15 and a 200 day moving average of $331.88. The company has a market capitalization of $117.42 billion, a price-to-earnings ratio of 31.27, a PEG ratio of 2.65 and a beta of 1.05. Eaton Co. plc has a one year low of $255.65 and a one year high of $379.99.
Eaton (NYSE:ETN - Get Free Report) last announced 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 return on equity of 22.62% and a net margin of 15.25%. During the same quarter last year, the company earned $2.55 EPS. As a group, sell-side analysts forecast that Eaton Co. plc will post 12.02 EPS for the current year.
Insider Activity
In related news, 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 transaction of $3,559,800.00. Following the transaction, the director now directly owns 43,203 shares of the company's stock, valued at $15,379,403.94. This trade represents a 18.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the company's stock in a transaction 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 sale, the insider now owns 31,200 shares of the company's stock, valued at approximately $11,811,696. This represents a 4.33 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.53% of the company's stock.
Eaton Profile
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Free Report)
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.
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