882 Shares in Eaton Co. plc (NYSE:ETN) Bought by McAdam LLC

McAdam LLC purchased a new stake in shares of Eaton Co. plc (NYSE:ETN) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 882 shares of the industrial products company’s stock, valued at approximately $293,000.

A number of other hedge funds have also modified their holdings of ETN. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Eaton by 253.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,273,685 shares of the industrial products company’s stock worth $753,590,000 after purchasing an additional 1,629,856 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of Eaton by 27,075.5% during the 3rd quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company’s stock valued at $355,959,000 after buying an additional 1,070,024 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Eaton by 32.8% in the 3rd quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company’s stock valued at $801,798,000 after buying an additional 597,700 shares during the period. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of Eaton in the third quarter worth about $137,794,000. Finally, Assenagon Asset Management S.A. grew its holdings in Eaton by 3,508.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 401,728 shares of the industrial products company’s stock worth $133,321,000 after acquiring an additional 390,595 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Eaton Stock Performance

NYSE ETN opened at $326.32 on Monday. Eaton Co. plc has a fifty-two week low of $245.65 and a fifty-two week high of $379.99. The firm has a market capitalization of $128.96 billion, a P/E ratio of 34.72, a price-to-earnings-growth ratio of 2.21 and a beta of 1.06. The stock’s fifty day moving average is $349.23 and its two-hundred day moving average is $331.07. 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 (NYSE:ETN) last announced its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.82 by $0.01. Eaton had a net margin of 15.32% and a return on equity of 21.97%. During the same period last year, the company earned $2.55 earnings per share. On average, research analysts anticipate that Eaton Co. plc will post 10.79 earnings per share for the current year.

Insider Transactions at Eaton

In other Eaton news, insider Craig Arnold sold 61,569 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the completion of the sale, the insider now owns 506,360 shares of the company’s stock, valued at $182,780,769.20. This trade represents a 10.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction, the director now directly owns 43,203 shares in the company, valued at approximately $15,379,403.94. This trade represents a 18.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 72,981 shares of company stock worth $26,318,917 in the last 90 days. Insiders own 0.53% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on ETN shares. JPMorgan Chase & Co. lowered their price objective on Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. Royal Bank of Canada raised their price target on shares of Eaton from $374.00 to $392.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. UBS Group initiated coverage on shares of Eaton in a research note on Wednesday, November 13th. They set a “buy” rating and a $431.00 target price on the stock. Sanford C. Bernstein began coverage on Eaton in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price target for the company. Finally, Bank of America increased their price target on Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $369.30.

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.