BankPlus Trust Department Buys New Shares in Eaton Co. plc (NYSE:ETN)

BankPlus Trust Department purchased a new stake in shares of Eaton Co. plc (NYSE:ETN) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 768 shares of the industrial products company’s stock, valued at approximately $255,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ETN. Mirae Asset Global Investments Co. Ltd. lifted its position in Eaton by 38.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,150 shares of the industrial products company’s stock valued at $13,187,000 after buying an additional 11,098 shares in the last quarter. Arkadios Wealth Advisors lifted its position in Eaton by 247.5% during the third quarter. Arkadios Wealth Advisors now owns 3,802 shares of the industrial products company’s stock valued at $1,260,000 after buying an additional 2,708 shares in the last quarter. Boston Trust Walden Corp lifted its position in Eaton by 1.9% during the third quarter. Boston Trust Walden Corp now owns 2,684 shares of the industrial products company’s stock valued at $890,000 after buying an additional 50 shares in the last quarter. GHP Investment Advisors Inc. lifted its position in shares of Eaton by 12.1% during the third quarter. GHP Investment Advisors Inc. now owns 694 shares of the industrial products company’s stock worth $230,000 after purchasing an additional 75 shares in the last quarter. Finally, Modera Wealth Management LLC lifted its position in shares of Eaton by 38.1% during the third quarter. Modera Wealth Management LLC now owns 3,362 shares of the industrial products company’s stock worth $1,114,000 after purchasing an additional 928 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ETN. 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 report on Friday, December 6th. UBS Group began coverage on shares of Eaton in a research report on Wednesday, November 13th. They set a “buy” rating and a $431.00 target price on the stock. Bank of America boosted their target price on shares of Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Mizuho boosted their target price 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. Finally, Citigroup reduced their target price on shares of Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Eaton has a consensus rating of “Moderate Buy” and an average price target of $366.05.

Insider Buying and Selling

In other 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 directly owns 43,203 shares of the company’s stock, valued at $15,379,403.94. This trade represents a 18.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.53% of the company’s stock.

Eaton Stock Down 2.6 %

ETN stock opened at $289.68 on Tuesday. The firm has a fifty day moving average price of $330.66 and a two-hundred day moving average price of $332.83. The firm has a market cap of $114.48 billion, a price-to-earnings ratio of 30.49, a PEG ratio of 2.64 and a beta of 1.05. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. Eaton Co. plc has a 1-year low of $255.65 and a 1-year high of $379.99.

Eaton (NYSE:ETN) last posted 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 period in the prior year, the company earned $2.55 earnings per share. Research analysts predict that Eaton Co. plc will post 12.02 EPS 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.