Eaton Co. plc (NYSE:ETN) Shares Purchased by Ballentine Partners LLC

Ballentine Partners LLC boosted its position in shares of Eaton Co. plc (NYSE:ETN) by 9.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,256 shares of the industrial products company’s stock after buying an additional 790 shares during the period. Ballentine Partners LLC’s holdings in Eaton were worth $3,072,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Edgestream Partners L.P. grew its holdings in shares of Eaton by 98.5% during the second quarter. Edgestream Partners L.P. now owns 1,989 shares of the industrial products company’s stock worth $624,000 after buying an additional 987 shares during the last quarter. Seven Eight Capital LP acquired a new stake in Eaton during the 2nd quarter worth approximately $270,000. King Luther Capital Management Corp grew its stake in shares of Eaton by 19.4% in the 2nd quarter. King Luther Capital Management Corp now owns 3,327 shares of the industrial products company’s stock valued at $1,043,000 after purchasing an additional 541 shares during the last quarter. Pacer Advisors Inc. increased its holdings in shares of Eaton by 4.7% in the second quarter. Pacer Advisors Inc. now owns 32,897 shares of the industrial products company’s stock valued at $10,315,000 after purchasing an additional 1,483 shares during the period. Finally, Thrivent Financial for Lutherans raised its stake in shares of Eaton by 110.2% during the second quarter. Thrivent Financial for Lutherans now owns 57,820 shares of the industrial products company’s stock worth $18,129,000 after purchasing an additional 30,319 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Activity

In other news, insider Craig Arnold sold 61,569 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the sale, the insider now owns 506,360 shares in the company, valued at $182,780,769.20. This trade represents a 10.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of Eaton stock in a transaction on Monday, November 25th. The shares were sold at an average price of $378.58, for a total value of $534,554.96. Following the completion of the sale, the insider now directly owns 31,200 shares of the company’s stock, valued at approximately $11,811,696. This represents a 4.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 76,981 shares of company stock worth $27,660,117 over the last three months. 0.33% of the stock is currently owned by corporate insiders.

Eaton Stock Performance

NYSE:ETN opened at $346.54 on Tuesday. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $136.95 billion, a P/E ratio of 36.87, a price-to-earnings-growth ratio of 2.40 and a beta of 1.06. The firm has a 50-day moving average price of $354.32 and a two-hundred day moving average price of $329.97. Eaton Co. plc has a twelve month low of $236.20 and a twelve month high of $379.99.

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 the consensus estimate of $2.80 by $0.04. The firm had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The company’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.47 EPS. As a group, research analysts expect that Eaton Co. plc will post 10.79 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on ETN shares. Mizuho lifted their price objective on shares of Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Sanford C. Bernstein started coverage on shares of Eaton in a report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 target price on the stock. JPMorgan Chase & Co. cut their price target on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Barclays lifted their price objective on Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Finally, Royal Bank of Canada increased their target price on Eaton from $374.00 to $392.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Eaton presently has a consensus rating of “Moderate Buy” and an average price target of $368.89.

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.