Valley National Advisers Inc. Has $60,000 Stock Position in Eaton Co. plc (NYSE:ETN)

Valley National Advisers Inc. increased its position in shares of Eaton Co. plc (NYSE:ETN) by 74.0% during the fourth quarter, Holdings Channel reports. The fund owned 181 shares of the industrial products company’s stock after acquiring an additional 77 shares during the quarter. Valley National Advisers Inc.’s holdings in Eaton were worth $60,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Geode Capital Management LLC lifted its holdings in shares of Eaton by 0.7% in the third quarter. Geode Capital Management LLC now owns 8,069,341 shares of the industrial products company’s stock valued at $2,665,342,000 after purchasing an additional 56,516 shares in the last quarter. Franklin Resources Inc. lifted its stake in Eaton by 15.1% in the 3rd quarter. Franklin Resources Inc. now owns 2,421,626 shares of the industrial products company’s stock worth $836,938,000 after acquiring an additional 316,830 shares in the last quarter. Janus Henderson Group PLC boosted its position in Eaton by 32.8% during the 3rd quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company’s stock worth $801,798,000 after acquiring an additional 597,700 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Eaton by 253.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,273,685 shares of the industrial products company’s stock valued at $753,590,000 after acquiring an additional 1,629,856 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Eaton by 2.9% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,422,189 shares of the industrial products company’s stock worth $471,370,000 after purchasing an additional 40,078 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Transactions at Eaton

In other news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $378.58, for a total transaction of $534,554.96. Following the sale, the insider now directly owns 31,200 shares in the company, valued at approximately $11,811,696. The trade was a 4.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 transaction of $22,224,561.93. Following the sale, the insider now owns 506,360 shares in the company, valued at $182,780,769.20. This represents a 10.84 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 72,981 shares of company stock worth $26,318,917. 0.53% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on ETN. Bank of America boosted their price objective on shares of Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Barclays increased their price objective on Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Sanford C. Bernstein began 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. Citigroup reduced their price target on Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a report on Monday, January 13th. Finally, Melius downgraded Eaton from a “buy” rating to a “hold” rating and set a $373.00 price objective on the stock. in a report on Tuesday, January 28th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $369.30.

Eaton Price Performance

Shares of NYSE:ETN opened at $326.32 on Monday. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. The business has a 50 day moving average price of $349.23 and a 200 day moving average price of $331.07. The company has a market cap of $128.96 billion, a price-to-earnings ratio of 34.72, a PEG ratio of 2.21 and a beta of 1.06. Eaton Co. plc has a twelve month low of $245.65 and a twelve month high of $379.99.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.82 by $0.01. Eaton had a net margin of 15.32% and a return on equity of 21.97%. During the same period in the prior year, the business earned $2.55 EPS. Research analysts predict that Eaton Co. plc will post 10.79 earnings per share for the current year.

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.