Slocum Gordon & Co LLP Takes Position in Eaton Co. plc (NYSE:ETN)

Slocum Gordon & Co LLP purchased a new position in shares of Eaton Co. plc (NYSE:ETN) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 150 shares of the industrial products company’s stock, valued at approximately $50,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Brookstone Capital Management raised its holdings in Eaton by 6.7% in the 3rd quarter. Brookstone Capital Management now owns 2,766 shares of the industrial products company’s stock valued at $917,000 after acquiring an additional 173 shares in the last quarter. Hoxton Planning & Management LLC bought a new position in shares of Eaton in the third quarter worth $270,000. Strategic Wealth Partners Ltd. lifted its position in Eaton by 3.0% during the third quarter. Strategic Wealth Partners Ltd. now owns 1,027 shares of the industrial products company’s stock worth $340,000 after purchasing an additional 30 shares during the period. Sovereign Financial Group Inc. grew its stake in Eaton by 9.1% during the third quarter. Sovereign Financial Group Inc. now owns 1,203 shares of the industrial products company’s stock worth $399,000 after buying an additional 100 shares in the last quarter. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors increased its holdings in Eaton by 61.1% in the 3rd quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 2,291 shares of the industrial products company’s stock valued at $759,000 after buying an additional 869 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

ETN has been the topic of several analyst reports. Barclays increased their price target on shares of Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Royal Bank of Canada decreased their price target on Eaton from $407.00 to $405.00 and set an “outperform” rating on the stock in a research note on Monday. Jefferies Financial Group upped their price objective on Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Mizuho lifted their target price on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, Sanford C. Bernstein initiated coverage on shares of Eaton in a report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 target price for the company. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $369.20.

Eaton Stock Up 0.0 %

Shares of ETN opened at $315.32 on Friday. The company has a market capitalization of $124.61 billion, a PE ratio of 33.19, a PEG ratio of 2.27 and a beta of 1.05. The stock’s 50-day moving average price is $344.50 and its two-hundred day moving average price is $331.06. 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 announced its earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, beating 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 previous year, the firm earned $2.55 EPS. On average, analysts anticipate that Eaton Co. plc will post 12 EPS for the current year.

Insider Buying and Selling

In other Eaton news, 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 transaction, the director now directly owns 43,203 shares of the company’s stock, valued at approximately $15,379,403.94. The trade was a 18.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the firm’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 of the company’s stock, valued at approximately $11,811,696. This trade represents a 4.33 % decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is owned by insiders.

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.