NovaPoint Capital LLC Acquires 261 Shares of Eaton Co. plc (NYSE:ETN)

NovaPoint Capital LLC lifted its position in shares of Eaton Co. plc (NYSE:ETN) by 6.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,534 shares of the industrial products company’s stock after purchasing an additional 261 shares during the quarter. NovaPoint Capital LLC’s holdings in Eaton were worth $1,505,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Wetzel Investment Advisors Inc. grew its holdings in shares of Eaton by 0.9% during the 4th quarter. Wetzel Investment Advisors Inc. now owns 3,101 shares of the industrial products company’s stock worth $1,029,000 after purchasing an additional 28 shares in the last quarter. Strategic Wealth Partners Ltd. grew its holdings in shares of Eaton by 3.0% during the 3rd quarter. Strategic Wealth Partners Ltd. now owns 1,027 shares of the industrial products company’s stock worth $340,000 after purchasing an additional 30 shares in the last quarter. Fairfield Financial Advisors LTD boosted its stake in Eaton by 16.2% in the 3rd quarter. Fairfield Financial Advisors LTD now owns 215 shares of the industrial products company’s stock valued at $71,000 after buying an additional 30 shares in the last quarter. Westmount Partners LLC boosted its stake in Eaton by 3.1% in the 4th quarter. Westmount Partners LLC now owns 985 shares of the industrial products company’s stock valued at $327,000 after buying an additional 30 shares in the last quarter. Finally, Signal Advisors Wealth LLC boosted its stake in Eaton by 3.5% in the 4th quarter. Signal Advisors Wealth LLC now owns 896 shares of the industrial products company’s stock valued at $297,000 after buying an additional 30 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Stock Up 0.1 %

Shares of NYSE ETN opened at $315.04 on Thursday. The stock has a market cap of $124.50 billion, a P/E ratio of 33.16, a P/E/G ratio of 2.27 and a beta of 1.05. The firm has a 50 day moving average price of $346.77 and a 200 day moving average price of $331.28. 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 52-week low of $255.65 and a 52-week high of $379.99.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 quarter in the previous year, the company earned $2.55 earnings per share. Analysts expect that Eaton Co. plc will post 12 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently commented on ETN. Barclays boosted their price target on Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Jefferies Financial Group boosted their price target on Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Mizuho boosted their price target on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Melius Research reissued a “hold” rating and issued a $373.00 price objective on shares of Eaton in a research note on Tuesday, January 28th. Finally, Sanford C. Bernstein initiated coverage on Eaton in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Eaton has a consensus rating of “Moderate Buy” and an average target price of $369.20.

Insider Activity

In other news, Director Gregory R. Page sold 10,000 shares of the company’s stock in a transaction that occurred 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 in the company, valued at $15,379,403.94. This represents a 18.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were 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 owns 31,200 shares of the company’s stock, valued at $11,811,696. This trade represents a 4.33 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

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.