Eaton Co. plc (NYSE:ETN) Stock Position Increased by Parcion Private Wealth LLC

Parcion Private Wealth LLC boosted its holdings in Eaton Co. plc (NYSE:ETN) by 313.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,637 shares of the industrial products company’s stock after acquiring an additional 21,719 shares during the quarter. Parcion Private Wealth LLC’s holdings in Eaton were worth $9,504,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Groupama Asset Managment raised its position in shares of Eaton by 83.2% during the 3rd quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock worth $31,000 after buying an additional 4,298 shares in the last quarter. Horizon Bancorp Inc. IN lifted its position in Eaton by 321.7% in the fourth 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 bought a new position in Eaton during the 3rd quarter valued at $33,000. Activest Wealth Management increased its position in shares of Eaton by 621.4% during the 4th quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 87 shares during the period. Finally, DT Investment Partners LLC bought a new stake in shares of Eaton in the 3rd quarter worth $37,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Trading Down 1.2 %

Shares of ETN opened at $309.31 on Thursday. The stock’s 50-day moving average price is $334.15 and its 200 day moving average price is $332.04. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $122.24 billion, a price-to-earnings ratio of 32.56, a P/E/G ratio of 2.64 and a beta of 1.05. Eaton Co. plc has a 12-month low of $255.65 and a 12-month high of $379.99.

Eaton (NYSE:ETN) last released 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 return on equity of 22.62% and a net margin of 15.25%. During the same quarter in the previous year, the firm earned $2.55 EPS. As a group, research analysts predict that Eaton Co. plc will post 12.03 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Jefferies Financial Group raised their target price on shares of Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Mizuho upped their target price on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Royal Bank of Canada reduced their price objective on shares of Eaton from $407.00 to $405.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. JPMorgan Chase & Co. cut their price target on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Finally, Evercore ISI cut their target price on shares of Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a research note on Wednesday. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $366.05.

Insider Transactions at Eaton

In other Eaton news, Director Gregory R. Page sold 10,000 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the completion of the transaction, the director now directly owns 43,203 shares in the company, valued at $15,379,403.94. This represents a 18.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the stock in a transaction dated 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 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. 0.33% of the stock is currently owned by insiders.

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.