1,755 Shares in Eaton Co. plc (NYSE:ETN) Purchased by Clarendon Private LLC

Clarendon Private LLC acquired a new stake in shares of Eaton Co. plc (NYSE:ETN) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,755 shares of the industrial products company’s stock, valued at approximately $582,000.

A number of other large investors also recently bought and sold shares of ETN. Groupama Asset Managment raised its position in shares of Eaton by 83.2% during the 3rd quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 4,298 shares in the last quarter. Horizon Bancorp Inc. IN increased its stake in Eaton by 321.7% during the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 74 shares during the last quarter. Morse Asset Management Inc acquired a new stake in shares of Eaton during the third quarter worth $33,000. West Financial Advisors LLC bought a new position in shares of Eaton in the 3rd quarter worth about $35,000. Finally, DT Investment Partners LLC acquired a new position in shares of Eaton in the 3rd quarter valued at about $37,000. Institutional investors own 82.97% of the company’s stock.

Insider Transactions at Eaton

In related news, Director Gregory R. Page sold 4,000 shares of Eaton stock in a transaction on Friday, November 1st. The stock was sold at an average price of $335.30, for a total value of $1,341,200.00. Following the transaction, the director now directly owns 51,422 shares in the company, valued at $17,241,796.60. The trade was a 7.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Craig Arnold sold 61,569 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total value of $22,224,561.93. Following the sale, the insider now directly owns 506,360 shares of the company’s stock, valued at approximately $182,780,769.20. This represents a 10.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 76,981 shares of company stock valued at $27,660,117 in the last quarter. Insiders own 0.53% of the company’s stock.

Eaton Stock Performance

ETN opened at $368.63 on Friday. Eaton Co. plc has a 1-year low of $241.87 and a 1-year high of $379.99. The company has a market capitalization of $145.68 billion, a price-to-earnings ratio of 39.22, a price-to-earnings-growth ratio of 2.57 and a beta of 1.06. The business has a 50 day moving average price of $353.96 and a two-hundred day moving average price of $331.35. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00.

Eaton (NYSE:ETN) last announced its earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.80 by $0.04. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The business had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.37 billion. During the same quarter last year, the business posted $2.47 earnings per share. The company’s quarterly revenue was up 7.9% on a year-over-year basis. Research analysts predict that Eaton Co. plc will post 10.79 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Jefferies Financial Group increased their price objective on shares of Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Bank of America raised their price target on Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. UBS Group began coverage on Eaton in a research note on Wednesday, November 13th. They set a “buy” rating and a $431.00 price objective for the company. Sanford C. Bernstein assumed coverage on Eaton in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 target price on the stock. Finally, Evercore ISI lowered shares of Eaton from an “outperform” rating to an “inline” rating and upped their price target for the stock from $333.00 to $389.00 in a research report on Wednesday, November 13th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $368.89.

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.