PUREfi Wealth LLC Acquires Shares of 1,293 Eaton Co. plc (NYSE:ETN)

PUREfi Wealth LLC acquired a new stake in Eaton Co. plc (NYSE:ETN) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 1,293 shares of the industrial products company’s stock, valued at approximately $429,000.

A number of other hedge funds have also modified their holdings of ETN. Creative Planning grew its holdings in shares of Eaton by 2.7% in the 3rd quarter. Creative Planning now owns 181,067 shares of the industrial products company’s stock worth $60,013,000 after purchasing an additional 4,705 shares during the last quarter. Vontobel Holding Ltd. increased its holdings in shares of Eaton by 52.6% during the third quarter. Vontobel Holding Ltd. now owns 26,611 shares of the industrial products company’s stock worth $8,820,000 after buying an additional 9,174 shares in the last quarter. B.O.S.S. Retirement Advisors LLC raised its stake in shares of Eaton by 18.4% in the third quarter. B.O.S.S. Retirement Advisors LLC now owns 1,270 shares of the industrial products company’s stock valued at $421,000 after acquiring an additional 197 shares during the last quarter. Good Life Advisors LLC raised its stake in shares of Eaton by 46.0% in the third quarter. Good Life Advisors LLC now owns 2,839 shares of the industrial products company’s stock valued at $941,000 after acquiring an additional 895 shares during the last quarter. Finally, Buffington Mohr McNeal boosted its holdings in shares of Eaton by 6.2% in the 3rd quarter. Buffington Mohr McNeal now owns 3,402 shares of the industrial products company’s stock worth $1,128,000 after acquiring an additional 200 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ETN. Wells Fargo & Company dropped their price target on Eaton from $350.00 to $335.00 and set an “equal weight” rating for the company in a report on Monday, February 3rd. Royal Bank of Canada cut their price target on Eaton from $407.00 to $405.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. Mizuho upped their price target on shares of Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Jefferies Financial Group boosted their target price on shares of Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Finally, Barclays upped their target price 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. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Eaton has an average rating of “Moderate Buy” and an average target price of $369.20.

Insider Activity

In other Eaton news, Director Gregory R. Page sold 10,000 shares of Eaton stock in a transaction that occurred 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 transaction, the director now 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 SEC, which is available through the SEC website. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $378.58, for a total transaction of $534,554.96. Following the completion of the transaction, the insider now owns 31,200 shares of the company’s stock, valued at $11,811,696. This trade represents a 4.33 % decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is owned by company insiders.

Eaton Price Performance

Shares of ETN opened at $309.21 on Friday. The stock has a market cap of $122.20 billion, a P/E ratio of 32.55, a price-to-earnings-growth ratio of 2.37 and a beta of 1.05. Eaton Co. plc has a 1 year low of $255.65 and a 1 year high of $379.99. The stock’s 50-day moving average price is $338.45 and its two-hundred day moving average price is $331.30. 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 (NYSE:ETN) last released its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share 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 quarter last year, the business posted $2.55 EPS. On average, equities analysts predict that Eaton Co. plc will post 12.04 earnings per share for the current year.

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.