Citizens & Northern Corp Increases Position in Eaton Co. plc (NYSE:ETN)

Citizens & Northern Corp raised its stake in Eaton Co. plc (NYSE:ETN) by 348.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,148 shares of the industrial products company’s stock after acquiring an additional 3,223 shares during the period. Citizens & Northern Corp’s holdings in Eaton were worth $1,377,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of ETN. Groupama Asset Managment increased its stake in Eaton by 83.2% in the 3rd quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock valued at $31,000 after buying an additional 4,298 shares during the period. Horizon Bancorp Inc. IN lifted its stake in shares of Eaton by 321.7% during the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 74 shares during the period. Morse Asset Management Inc acquired a new stake in Eaton during the third quarter worth about $33,000. Activest Wealth Management increased its position in Eaton by 621.4% during the 4th quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 87 shares in the last quarter. Finally, DT Investment Partners LLC acquired a new stake in shares of Eaton in the third quarter worth $37,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Eaton news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were 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 in the company, valued at $11,811,696. This represents a 4.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gregory R. Page sold 10,000 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the transaction, the director now owns 43,203 shares in the company, valued at approximately $15,379,403.94. This represents a 18.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ETN. Wells Fargo & Company dropped their price objective on shares of Eaton from $350.00 to $335.00 and set an “equal weight” rating on the stock in a research note on Monday, February 3rd. UBS Group started coverage on Eaton in a report on Wednesday, November 13th. They set a “buy” rating and a $431.00 target price on the stock. Evercore ISI downgraded shares of 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. JPMorgan Chase & Co. dropped their target price on Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. Finally, Barclays lifted their price target on Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Eaton currently has an average rating of “Moderate Buy” and a consensus target price of $369.20.

Eaton Price Performance

ETN stock opened at $309.21 on Tuesday. The firm has a 50-day moving average of $337.21 and a two-hundred day moving average of $331.89. The firm has a market capitalization of $122.20 billion, a PE ratio of 32.55, a P/E/G ratio of 2.37 and a beta of 1.05. 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 one year low of $255.65 and a one year high of $379.99.

Eaton (NYSE:ETN) last issued its quarterly 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 net margin of 15.25% and a return on equity of 22.62%. During the same period in the prior year, the firm posted $2.55 earnings per share. On average, analysts forecast 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.