Peterson Wealth Services Raises Stock Holdings in Eaton Co. plc (NYSE:ETN)

Peterson Wealth Services lifted its holdings in shares of Eaton Co. plc (NYSE:ETN) by 2.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,624 shares of the industrial products company’s stock after acquiring an additional 230 shares during the quarter. Peterson Wealth Services’ holdings in Eaton were worth $2,862,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Groupama Asset Managment increased its position in shares of Eaton by 83.2% during the third 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 increased its position in Eaton by 321.7% in the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock worth $32,000 after buying an additional 74 shares during the last quarter. Morse Asset Management Inc purchased a new stake in Eaton in the third quarter worth $33,000. Activest Wealth Management increased its position in Eaton by 621.4% in the fourth quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock worth $34,000 after buying an additional 87 shares during the last quarter. Finally, DT Investment Partners LLC purchased a new stake in Eaton in the third quarter worth $37,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Eaton Stock Up 2.2 %

ETN opened at $319.97 on Tuesday. The company has a market cap of $126.45 billion, a P/E ratio of 33.68, a P/E/G ratio of 2.37 and a beta of 1.05. The business’s 50-day moving average price is $343.25 and its 200-day moving average price is $331.29. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. Eaton Co. plc has a 12 month low of $255.65 and a 12 month high of $379.99.

Eaton (NYSE:ETN) last released its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, topping 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 period in the prior year, the company earned $2.55 EPS. On average, equities analysts expect that Eaton Co. plc will post 12.04 EPS for the current year.

Insider Activity 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 value of $534,554.96. Following the sale, the insider now directly owns 31,200 shares of the company’s stock, valued at $11,811,696. The trade was a 4.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Gregory R. Page sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was 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 directly owns 43,203 shares in the company, valued at approximately $15,379,403.94. This represents a 18.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.53% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Royal Bank of Canada decreased their target price on Eaton from $407.00 to $405.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Wells Fargo & Company cut their price target on Eaton from $350.00 to $335.00 and set an “equal weight” rating for the company in a report on Monday, February 3rd. Mizuho raised their price target on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Sanford C. Bernstein started coverage on Eaton in a report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price target for the company. Finally, Melius Research reaffirmed a “hold” rating and issued a $373.00 price target on shares of Eaton 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.com, the company has a consensus rating of “Moderate Buy” and an average target price of $369.20.

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.