Mayflower Financial Advisors LLC Grows Position in Eaton Co. plc (NYSE:ETN)

Mayflower Financial Advisors LLC increased its position in shares of Eaton Co. plc (NYSE:ETN) by 1.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,167 shares of the industrial products company’s stock after buying an additional 49 shares during the period. Mayflower Financial Advisors LLC’s holdings in Eaton were worth $1,051,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Patriot Financial Group Insurance Agency LLC increased its stake in Eaton by 147.2% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 3,523 shares of the industrial products company’s stock valued at $1,169,000 after purchasing an additional 2,098 shares during the last quarter. Perigon Wealth Management LLC increased its stake in Eaton by 10.5% in the fourth quarter. Perigon Wealth Management LLC now owns 6,754 shares of the industrial products company’s stock valued at $2,331,000 after purchasing an additional 643 shares during the last quarter. Patrick M Sweeney & Associates Inc. increased its stake in Eaton by 1.2% in the fourth quarter. Patrick M Sweeney & Associates Inc. now owns 3,477 shares of the industrial products company’s stock valued at $1,154,000 after purchasing an additional 42 shares during the last quarter. Matrix Asset Advisors Inc. NY increased its stake in Eaton by 59.4% in the fourth quarter. Matrix Asset Advisors Inc. NY now owns 1,342 shares of the industrial products company’s stock valued at $445,000 after purchasing an additional 500 shares during the last quarter. Finally, Revolve Wealth Partners LLC increased its stake in Eaton by 17.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 913 shares of the industrial products company’s stock valued at $303,000 after purchasing an additional 136 shares during the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on ETN shares. Royal Bank of Canada increased their price target on shares of Eaton from $374.00 to $392.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Melius Research reiterated a “hold” rating and issued a $373.00 price target on shares of Eaton in a research note on Tuesday. Melius downgraded Eaton from a “buy” rating to a “hold” rating and set a $373.00 price objective for the company. in a report on Tuesday. Citigroup decreased their price objective on Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a report on Monday, January 13th. Finally, Jefferies Financial Group increased their price objective on Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a report on Friday, December 6th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $369.30.

Insider Activity

In other news, Director Gregory R. Page sold 4,000 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $335.30, for a total value of $1,341,200.00. Following the completion of the transaction, the director now owns 51,422 shares in the company, valued at $17,241,796.60. This trade represents a 7.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Craig Arnold sold 61,569 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total value of $22,224,561.93. Following the completion of the transaction, the insider now owns 506,360 shares of the company’s stock, valued at approximately $182,780,769.20. This represents a 10.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 76,981 shares of company stock worth $27,660,117 over the last 90 days. 0.53% of the stock is currently owned by corporate insiders.

Eaton Trading Up 0.2 %

NYSE:ETN opened at $312.26 on Wednesday. The stock has a fifty day moving average price of $353.01 and a two-hundred day moving average price of $331.34. The stock has a market capitalization of $123.41 billion, a price-to-earnings ratio of 33.22, a PEG ratio of 2.57 and a beta of 1.06. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53. Eaton Co. plc has a 1 year low of $244.35 and a 1 year high of $379.99.

Eaton (NYSE:ETN) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.80 by $0.04. The firm had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. Eaton’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.47 earnings per share. As a group, sell-side analysts anticipate 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.