Eaton Co. plc (NYSE:ETN) Shares Bought by Caprock Group LLC

Caprock Group LLC lifted its stake in shares of Eaton Co. plc (NYSE:ETN) by 12.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 12,294 shares of the industrial products company’s stock after purchasing an additional 1,318 shares during the period. Caprock Group LLC’s holdings in Eaton were worth $4,080,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in ETN. Groupama Asset Managment grew its holdings in Eaton by 83.2% during the 3rd quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 4,298 shares in the last quarter. Horizon Bancorp Inc. IN grew its stake 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 purchased a new position in Eaton in the third quarter valued at $33,000. West Financial Advisors LLC acquired a new stake in Eaton in the third quarter valued at $35,000. Finally, DT Investment Partners LLC purchased a new stake in Eaton during the 3rd quarter worth about $37,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Eaton Stock Performance

Shares of ETN opened at $326.32 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53. The stock has a market capitalization of $128.96 billion, a P/E ratio of 34.72, a P/E/G ratio of 2.21 and a beta of 1.06. Eaton Co. plc has a 1 year low of $245.65 and a 1 year high of $379.99. The company’s fifty day moving average is $350.25 and its two-hundred day moving average is $331.09.

Eaton (NYSE:ETN) last issued its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.82 by $0.01. Eaton had a return on equity of 21.97% and a net margin of 15.32%. During the same quarter in the prior year, the business posted $2.55 earnings per share. On average, sell-side analysts predict that Eaton Co. plc will post 10.79 earnings per share for the current year.

Analyst Ratings Changes

ETN has been the topic of several research analyst reports. JPMorgan Chase & Co. cut their target price on Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. Citigroup cut their price objective on shares of Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Evercore ISI cut shares of Eaton from an “outperform” rating to an “inline” rating and upped their target price for the company from $333.00 to $389.00 in a report on Wednesday, November 13th. UBS Group assumed coverage on shares of Eaton in a research note on Wednesday, November 13th. They set a “buy” rating and a $431.00 price target on the stock. Finally, Melius Research restated a “hold” rating and issued a $373.00 price objective on shares of Eaton in a research note on Tuesday. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $369.30.

Insider Buying and Selling at Eaton

In related news, Director Gregory R. Page sold 10,000 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $355.98, for a total value of $3,559,800.00. Following the completion of the sale, the director now owns 43,203 shares in the company, 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $378.58, for a total transaction of $534,554.96. Following the transaction, the insider now owns 31,200 shares in the company, valued at $11,811,696. The trade was a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 72,981 shares of company stock valued at $26,318,917. 0.53% of the stock is owned by company insiders.

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.