Synergy Asset Management LLC Has $13.86 Million Stock Holdings in Eaton Co. plc (NYSE:ETN)

Synergy Asset Management LLC lifted its stake in Eaton Co. plc (NYSE:ETN) by 76.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 41,796 shares of the industrial products company’s stock after purchasing an additional 18,151 shares during the period. Eaton accounts for approximately 1.1% of Synergy Asset Management LLC’s holdings, making the stock its 22nd largest holding. Synergy Asset Management LLC’s holdings in Eaton were worth $13,862,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Groupama Asset Managment increased its stake in shares of Eaton by 83.2% in 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 during the last quarter. Horizon Bancorp Inc. IN boosted its position in shares of Eaton by 321.7% during the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 74 shares in the last quarter. Morse Asset Management Inc acquired a new position in shares of Eaton in the 3rd quarter valued at $33,000. West Financial Advisors LLC bought a new position in Eaton during the third quarter worth about $35,000. Finally, DT Investment Partners LLC acquired a new stake in shares of Eaton during the third quarter worth about $37,000. Institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling at Eaton

In other Eaton news, insider Craig Arnold sold 61,569 shares of Eaton stock in a transaction on 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 completion of the transaction, the insider now directly owns 506,360 shares of the company’s stock, valued at $182,780,769.20. The trade was a 10.84 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gregory R. Page sold 10,000 shares of the 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 sale, the director now owns 43,203 shares in the company, valued at $15,379,403.94. This represents a 18.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 76,981 shares of company stock valued at $27,660,117 in the last quarter. Company insiders own 0.53% of the company’s stock.

Eaton Stock Performance

ETN opened at $317.90 on Thursday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00. The company has a market capitalization of $125.63 billion, a PE ratio of 33.82, a price-to-earnings-growth ratio of 2.57 and a beta of 1.06. The business has a fifty day simple moving average of $351.98 and a 200 day simple moving average of $331.21. Eaton Co. plc has a 1 year low of $245.65 and a 1 year high of $379.99.

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

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ETN shares. Wells Fargo & Company decreased their price objective on Eaton from $365.00 to $350.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Melius lowered shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price for the company. in a research note on Tuesday. Citigroup dropped their price target on Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Sanford C. Bernstein assumed coverage on Eaton in a research report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 target price on the stock. Finally, Jefferies Financial Group upped their price target on Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Eaton has a consensus rating of “Moderate Buy” and an average price target of $369.30.

About Eaton

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.