Hamilton Point Investment Advisors LLC Acquires 418 Shares of Eaton Co. plc (NYSE:ETN)

Hamilton Point Investment Advisors LLC lifted its holdings in Eaton Co. plc (NYSE:ETN) by 1.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 29,769 shares of the industrial products company’s stock after purchasing an additional 418 shares during the period. Eaton comprises 1.7% of Hamilton Point Investment Advisors LLC’s holdings, making the stock its 14th biggest position. Hamilton Point Investment Advisors LLC’s holdings in Eaton were worth $9,879,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Horizon Bancorp Inc. IN lifted its holdings in Eaton by 321.7% in the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 74 shares during the last quarter. Morse Asset Management Inc purchased a new stake in Eaton in the 3rd quarter valued at about $33,000. West Financial Advisors LLC acquired a new position in Eaton in the third quarter valued at about $35,000. DT Investment Partners LLC purchased a new position in Eaton during the third quarter worth about $37,000. Finally, RPg Family Wealth Advisory LLC acquired a new stake in shares of Eaton during the third quarter valued at about $44,000. 82.97% of the stock is currently owned by institutional investors.

Insider Transactions at Eaton

In other Eaton news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $378.58, for a total value of $534,554.96. Following the transaction, the insider now owns 31,200 shares of the company’s stock, valued at $11,811,696. This trade represents a 4.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gregory R. Page sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $355.98, for a total value of $3,559,800.00. Following the completion of the sale, the director now directly owns 43,203 shares in the company, valued at approximately $15,379,403.94. This trade represents a 18.80 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 72,981 shares of company stock valued at $26,318,917. Insiders own 0.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ETN. Evercore ISI cut shares of Eaton from an “outperform” rating to an “inline” rating and increased their price objective for the stock from $333.00 to $389.00 in a research report on Wednesday, November 13th. UBS Group started coverage on Eaton in a research report on Wednesday, November 13th. They set a “buy” rating and a $431.00 price target for the company. Royal Bank of Canada boosted their price objective on Eaton from $374.00 to $392.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Melius cut Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price for the company. in a report on Tuesday. 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 research note on Wednesday, January 15th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $369.30.

Eaton Trading Up 3.0 %

NYSE:ETN opened at $327.08 on Friday. Eaton Co. plc has a 12 month low of $245.65 and a 12 month high of $379.99. The business’s 50-day moving average is $350.25 and its two-hundred day moving average is $331.09. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00. The firm has a market capitalization of $129.26 billion, a PE ratio of 34.80, a price-to-earnings-growth ratio of 2.21 and a beta of 1.06.

Eaton (NYSE:ETN) last announced its 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 15.32% and a return on equity of 21.97%. Research analysts predict that Eaton Co. plc will post 10.79 earnings per share 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.