Lake Street Advisors Group LLC Raises Stake in Eaton Co. plc (NYSE:ETN)

Lake Street Advisors Group LLC boosted its stake in shares of Eaton Co. plc (NYSE:ETN) by 143.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 22,382 shares of the industrial products company’s stock after buying an additional 13,172 shares during the quarter. Lake Street Advisors Group LLC’s holdings in Eaton were worth $7,428,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Modera Wealth Management LLC lifted its stake in Eaton by 38.1% in the third quarter. Modera Wealth Management LLC now owns 3,362 shares of the industrial products company’s stock valued at $1,114,000 after purchasing an additional 928 shares during the last quarter. J.W. Cole Advisors Inc. raised its stake in shares of Eaton by 200.1% in the third quarter. J.W. Cole Advisors Inc. now owns 6,162 shares of the industrial products company’s stock valued at $2,042,000 after buying an additional 4,109 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its position in shares of Eaton by 1.6% during the 3rd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,912 shares of the industrial products company’s stock valued at $965,000 after buying an additional 46 shares during the last quarter. Autumn Glory Partners LLC purchased a new stake in Eaton in the 3rd quarter worth about $492,000. Finally, Orrstown Financial Services Inc. raised its stake in Eaton by 138.4% in the 3rd quarter. Orrstown Financial Services Inc. now owns 3,151 shares of the industrial products company’s stock valued at $1,044,000 after acquiring an additional 1,829 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Price Performance

ETN stock opened at $287.12 on Wednesday. The firm has a 50 day simple moving average of $329.47 and a two-hundred day simple moving average of $332.80. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. The stock has a market cap of $113.47 billion, a PE ratio of 30.22, a P/E/G ratio of 2.64 and a beta of 1.05. Eaton Co. plc has a one year low of $255.65 and a one year high of $379.99.

Eaton (NYSE:ETN) last announced its earnings results 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 15.25% and a return on equity of 22.62%. During the same period last year, the firm earned $2.55 earnings per share. On average, analysts predict that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Insider Activity

In other news, Director Gregory R. Page sold 10,000 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at approximately $15,379,403.94. This represents a 18.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on ETN. Melius Research reiterated a “hold” rating and set a $373.00 target price on shares of Eaton in a research report on Tuesday, January 28th. Melius downgraded shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 price objective for the company. in a report on Tuesday, January 28th. Sanford C. Bernstein started coverage on shares of Eaton in a report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 target price on the stock. JPMorgan Chase & Co. cut their price target on Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Finally, Wells Fargo & Company reiterated an “equal weight” rating on shares of Eaton in a research report on Thursday, February 13th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $366.05.

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.