Eaton Co. plc (NYSE:ETN) Shares Bought by OLD National Bancorp IN

OLD National Bancorp IN grew its position in shares of Eaton Co. plc (NYSE:ETN) by 3.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,959 shares of the industrial products company’s stock after purchasing an additional 164 shares during the period. OLD National Bancorp IN’s holdings in Eaton were worth $1,646,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Synergy Asset Management LLC boosted its position in shares of Eaton by 76.8% in the fourth quarter. Synergy Asset Management LLC now owns 41,796 shares of the industrial products company’s stock worth $13,862,000 after acquiring an additional 18,151 shares during the last quarter. Gries Financial LLC boosted its position in shares of Eaton by 5.5% in the fourth quarter. Gries Financial LLC now owns 11,174 shares of the industrial products company’s stock worth $3,708,000 after acquiring an additional 580 shares during the last quarter. New England Research & Management Inc. boosted its position in shares of 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 acquiring an additional 1,725 shares during the last quarter. Ibex Wealth Advisors acquired a new stake in shares of Eaton in the fourth quarter worth approximately $355,000. Finally, Orrstown Financial Services Inc. boosted its position in shares of Eaton by 9.5% in the fourth quarter. Orrstown Financial Services Inc. now owns 3,449 shares of the industrial products company’s stock worth $1,145,000 after acquiring an additional 298 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Citigroup decreased 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. Melius Research restated a “hold” rating and issued a $373.00 price target on shares of Eaton in a report on Tuesday. Royal Bank of Canada raised their price target on shares of Eaton from $374.00 to $392.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Sanford C. Bernstein initiated coverage on shares of Eaton in a report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price target on the stock. Finally, JPMorgan Chase & Co. cut their price target on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $369.30.

Insider Buying and Selling at Eaton

In related news, Director Gregory R. Page sold 10,000 shares of the business’s stock in a transaction dated 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 sale, the director now owns 43,203 shares of the company’s stock, valued at $15,379,403.94. This represents a 18.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $378.58, for a total transaction of $534,554.96. Following the completion of the transaction, the insider now directly owns 31,200 shares in the company, valued at $11,811,696. This represents a 4.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 72,981 shares of company stock worth $26,318,917 over the last 90 days. Insiders own 0.53% of the company’s stock.

Eaton Stock Up 3.0 %

Shares of NYSE:ETN opened at $327.08 on Friday. 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 fifty day simple moving average of $351.13 and a 200 day simple moving average of $331.12. The firm has a market cap of $129.26 billion, a PE ratio of 34.80, a price-to-earnings-growth ratio of 2.57 and a beta of 1.06. Eaton Co. plc has a 12-month low of $245.65 and a 12-month high of $379.99.

Eaton (NYSE:ETN) last issued its quarterly earnings results 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. The business had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The business’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.47 earnings per share. On average, equities research analysts anticipate that Eaton Co. plc will post 10.79 EPS for the current fiscal year.

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.