Eaton Co. plc (NYSE:ETN) Shares Purchased by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd grew its position in shares of Eaton Co. plc (NYSE:ETN) by 136.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 71,901 shares of the industrial products company’s stock after purchasing an additional 41,497 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Eaton were worth $23,840,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Crews Bank & Trust acquired a new stake in Eaton in the 4th quarter valued at about $357,000. OLD National Bancorp IN raised its holdings in shares of Eaton by 3.4% in the 4th quarter. OLD National Bancorp IN now owns 4,959 shares of the industrial products company’s stock worth $1,646,000 after purchasing an additional 164 shares in the last quarter. Synergy Asset Management LLC boosted its holdings in Eaton by 76.8% during the fourth quarter. Synergy Asset Management LLC now owns 41,796 shares of the industrial products company’s stock worth $13,862,000 after buying an additional 18,151 shares in the last quarter. Gries Financial LLC boosted its holdings in Eaton by 5.5% during the fourth quarter. Gries Financial LLC now owns 11,174 shares of the industrial products company’s stock worth $3,708,000 after buying an additional 580 shares in the last quarter. Finally, New England Research & Management Inc. grew its position in Eaton by 128.3% in the fourth quarter. New England Research & Management Inc. now owns 3,069 shares of the industrial products company’s stock worth $1,019,000 after buying an additional 1,725 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. reduced their price objective on Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. Melius Research reissued a “hold” rating and issued a $373.00 price target on shares of Eaton in a research note on Tuesday. Melius cut shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price for the company. in a report on Tuesday. Barclays upped their price target on shares of Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Finally, Wells Fargo & Company cut their target price on shares of Eaton from $365.00 to $350.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $369.30.

Eaton Stock Performance

ETN stock opened at $327.08 on Friday. The firm has a 50 day moving average of $351.13 and a two-hundred day moving average of $331.12. Eaton Co. plc has a 12 month low of $245.65 and a 12 month high of $379.99. The company has a market capitalization of $129.26 billion, a price-to-earnings ratio of 34.80, a P/E/G ratio of 2.57 and a beta of 1.06. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The firm had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.37 billion. During the same period in the prior year, the company posted $2.47 earnings per share. Eaton’s revenue for the quarter was up 7.9% on a year-over-year basis. As a group, equities analysts anticipate that Eaton Co. plc will post 10.79 EPS for the current fiscal year.

Insiders Place Their Bets

In other Eaton news, 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 completion of the transaction, the director now owns 43,203 shares of the company’s stock, valued at $15,379,403.94. The trade was 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 firm’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 506,360 shares in the company, 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 sold 72,981 shares of company stock valued at $26,318,917 over the last quarter. Insiders own 0.53% of the company’s stock.

Eaton Company 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.