Ieq Capital LLC Has $12.52 Million Position in Eaton Co. plc (NYSE:ETN)

Ieq Capital LLC raised its position in shares of Eaton Co. plc (NYSE:ETN) by 24.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 37,737 shares of the industrial products company’s stock after acquiring an additional 7,340 shares during the period. Ieq Capital LLC’s holdings in Eaton were worth $12,523,000 as of its most recent SEC filing.

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

Eaton Stock Down 1.2 %

ETN stock opened at $309.31 on Thursday. Eaton Co. plc has a 52-week low of $255.65 and a 52-week high of $379.99. The stock has a market capitalization of $122.24 billion, a price-to-earnings ratio of 32.56, a price-to-earnings-growth ratio of 2.64 and a beta of 1.05. The company has a 50-day moving average of $334.15 and a two-hundred day moving average of $332.04. 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 (NYSE:ETN) last released its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, topping 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 prior year, the firm earned $2.55 EPS. As a group, equities research analysts anticipate that Eaton Co. plc will post 12.03 EPS for the current year.

Insider Activity at Eaton

In related news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $378.58, for a total value of $534,554.96. Following the completion of the transaction, the insider now directly owns 31,200 shares in the company, valued at approximately $11,811,696. This represents a 4.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Gregory R. Page sold 10,000 shares of the company’s stock in a transaction 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 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 ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ETN. Sanford C. Bernstein began coverage on shares of Eaton in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price target on the stock. Mizuho upped their price target on shares of Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Royal Bank of Canada dropped their price target on shares of Eaton from $407.00 to $405.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd. Wells Fargo & Company dropped their price target 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. Finally, UBS Group assumed 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. Seven 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.com, the stock has an average rating of “Moderate Buy” and an average price target of $366.05.

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.