WESPAC Advisors SoCal LLC raised its holdings in Eaton Co. plc (NYSE:ETN – Free Report) by 54.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 22,625 shares of the industrial products company’s stock after purchasing an additional 8,021 shares during the period. Eaton comprises 1.7% of WESPAC Advisors SoCal LLC’s holdings, making the stock its 22nd largest position. WESPAC Advisors SoCal LLC’s holdings in Eaton were worth $7,509,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of the business. Groupama Asset Managment boosted its stake in shares of Eaton by 83.2% in the third quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 4,298 shares during the last quarter. Horizon Bancorp Inc. IN boosted its stake in shares of 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 acquiring an additional 74 shares during the last quarter. Morse Asset Management Inc acquired a new stake in shares of Eaton in the third quarter worth approximately $33,000. West Financial Advisors LLC acquired a new stake in shares of Eaton in the third quarter worth approximately $35,000. Finally, DT Investment Partners LLC acquired a new stake in shares of Eaton in the third quarter worth approximately $37,000. 82.97% of the stock is owned by institutional investors and hedge funds.
Eaton Price Performance
ETN stock opened at $315.74 on Tuesday. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $124.78 billion, a PE ratio of 33.24, a P/E/G ratio of 2.27 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. The business’s fifty day moving average price is $349.23 and its 200 day moving average price is $331.21.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on ETN. Wells Fargo & Company lowered their price target on Eaton from $350.00 to $335.00 and set an “equal weight” rating on the stock in a research note on Monday. Melius lowered Eaton from a “buy” rating to a “hold” rating and set a $373.00 price objective on the stock. in a research note on Tuesday, January 28th. Mizuho boosted their price objective on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Sanford C. Bernstein began coverage on Eaton in a research note on Tuesday, November 5th. They set an “outperform” rating and a $382.00 price objective on the stock. Finally, Jefferies Financial Group boosted their price objective on Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Eaton has a consensus rating of “Moderate Buy” and an average target price of $369.20.
Insiders Place Their Bets
In other Eaton news, Director Gregory R. Page sold 10,000 shares of the company’s stock in a transaction that occurred 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 sale, the director now directly owns 43,203 shares of the company’s stock, valued at $15,379,403.94. This represents a 18.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Craig Arnold sold 61,569 shares of the company’s stock in a transaction that occurred 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 sale, the insider now directly owns 506,360 shares of the company’s stock, valued at approximately $182,780,769.20. This represents a 10.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 72,981 shares of company stock worth $26,318,917 in the last quarter. 0.33% of the stock is owned by company 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.
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