CogentBlue Wealth Advisors LLC Purchases Shares of 2,019 Eaton Co. plc (NYSE:ETN)

CogentBlue Wealth Advisors LLC purchased a new position in Eaton Co. plc (NYSE:ETNFree Report) during the 4th quarter, HoldingsChannel reports. The fund purchased 2,019 shares of the industrial products company’s stock, valued at approximately $670,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in ETN. Horizon Bancorp Inc. IN increased its stake in Eaton by 321.7% in the 4th 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 bought a new position in shares of Eaton in the third quarter worth approximately $33,000. Activest Wealth Management raised its stake in Eaton by 621.4% in the fourth 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 in the last quarter. DT Investment Partners LLC bought a new stake in Eaton during the third quarter valued at approximately $37,000. Finally, Hager Investment Management Services LLC purchased a new position in Eaton in the 4th quarter worth approximately $38,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. UBS Group started coverage on shares of Eaton in a report on Wednesday, November 13th. They set a “buy” rating and a $431.00 price objective for the company. Melius cut Eaton from a “buy” rating to a “hold” rating and set a $373.00 price objective for the company. in a report on Tuesday, January 28th. Bank of America raised their price objective on Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. cut their target price on Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. Finally, Royal Bank of Canada decreased 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. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $366.05.

View Our Latest Report on Eaton

Eaton Trading Down 1.2 %

NYSE ETN opened at $309.31 on Thursday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. Eaton Co. plc has a fifty-two week low of $255.65 and a fifty-two week high of $379.99. The stock has a market cap of $122.24 billion, a P/E ratio of 32.56, a price-to-earnings-growth ratio of 2.64 and a beta of 1.05. The stock has a 50 day simple moving average of $334.15 and a two-hundred day simple moving average of $332.04.

Eaton (NYSE:ETNGet Free Report) last released its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, beating 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 previous year, the company earned $2.55 EPS. On average, analysts forecast that Eaton Co. plc will post 12.03 earnings per share for the current year.

Insider Buying and Selling at Eaton

In related news, Director Gregory R. Page sold 10,000 shares of Eaton 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 sale, the director now directly owns 43,203 shares in the company, valued at $15,379,403.94. The trade was a 18.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the 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 owns 31,200 shares of the company’s stock, valued at approximately $11,811,696. This trade represents a 4.33 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

Eaton Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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