1,076 Shares in Eaton Co. plc (NYSE:ETN) Acquired by Crews Bank & Trust

Crews Bank & Trust bought a new position in Eaton Co. plc (NYSE:ETN) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 1,076 shares of the industrial products company’s stock, valued at approximately $357,000.

Other hedge funds also recently bought and sold shares of the company. Horizon Bancorp Inc. IN lifted its position in Eaton by 321.7% in the 4th 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 bought a new stake in Eaton in the 3rd quarter worth approximately $33,000. West Financial Advisors LLC bought a new stake in Eaton in the 3rd quarter worth approximately $35,000. DT Investment Partners LLC bought a new stake in Eaton in the third quarter valued at approximately $37,000. Finally, RPg Family Wealth Advisory LLC bought a new stake in Eaton in the third quarter valued at approximately $44,000. Institutional investors own 82.97% of the company’s stock.

Insider Activity

In related news, insider Craig Arnold sold 61,569 shares of Eaton stock in a transaction dated 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 sale, the insider now directly owns 506,360 shares in the company, valued at approximately $182,780,769.20. This trade represents a 10.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of Eaton stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $378.58, for a total value of $534,554.96. Following the completion of the sale, the insider now owns 31,200 shares of the company’s stock, 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. Insiders sold 72,981 shares of company stock worth $26,318,917 over the last three months. 0.53% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

ETN has been the subject of several recent research reports. Royal Bank of Canada boosted their price objective on Eaton from $374.00 to $392.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Evercore ISI downgraded Eaton from an “outperform” rating to an “inline” rating and boosted their price objective for the company from $333.00 to $389.00 in a research report on Wednesday, November 13th. Wells Fargo & Company lowered 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 Research reiterated a “hold” rating and issued a $373.00 price objective on shares of Eaton in a research report on Tuesday. Finally, Mizuho boosted their price objective on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. 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, Eaton currently has a consensus rating of “Moderate Buy” and an average price target of $369.30.

Eaton Price Performance

ETN opened at $327.08 on Friday. The stock has a fifty day simple moving average of $351.13 and a two-hundred day simple moving average of $331.12. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. The company has a market cap of $129.26 billion, a price-to-earnings ratio of 34.80, a price-to-earnings-growth ratio of 2.57 and a beta of 1.06. Eaton Co. plc has a 12-month low of $245.65 and a 12-month high of $379.99.

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

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.