Kestra Private Wealth Services LLC Has $13.31 Million Position in Eaton Co. plc (NYSE:ETN)

Kestra Private Wealth Services LLC grew its position in Eaton Co. plc (NYSE:ETN) by 12.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 40,119 shares of the industrial products company’s stock after buying an additional 4,460 shares during the period. Kestra Private Wealth Services LLC’s holdings in Eaton were worth $13,314,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. B. Riley Wealth Advisors Inc. lifted its stake in shares of Eaton by 48.9% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 41,106 shares of the industrial products company’s stock valued at $13,533,000 after purchasing an additional 13,497 shares during the period. Lighthouse Wealth Management Inc. acquired a new stake in shares of Eaton during the fourth quarter worth about $297,000. Webster Bank N. A. lifted its holdings in shares of Eaton by 52.4% during the 4th quarter. Webster Bank N. A. now owns 17,925 shares of the industrial products company’s stock valued at $5,949,000 after purchasing an additional 6,166 shares in the last quarter. Ballentine Partners LLC increased its stake in Eaton by 9.3% during the 4th quarter. Ballentine Partners LLC now owns 9,256 shares of the industrial products company’s stock worth $3,072,000 after purchasing an additional 790 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in Eaton by 13.2% during the 4th quarter. Blue Trust Inc. now owns 14,494 shares of the industrial products company’s stock worth $4,804,000 after buying an additional 1,694 shares during the period. Institutional investors own 82.97% of the company’s stock.

Eaton Price Performance

Shares of NYSE ETN opened at $313.11 on Friday. Eaton Co. plc has a fifty-two week low of $255.65 and a fifty-two week high of $379.99. The business has a fifty day moving average price of $343.25 and a two-hundred day moving average price of $331.01. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. The stock has a market capitalization of $123.74 billion, a PE ratio of 32.96, a P/E/G ratio of 2.37 and a beta of 1.05.

Eaton (NYSE:ETN) last released its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, topping the consensus estimate of $2.82 by $0.01. Eaton had a return on equity of 22.62% and a net margin of 15.25%. During the same quarter in the previous year, the firm earned $2.55 earnings per share. As a group, equities analysts predict that Eaton Co. plc will post 12.04 earnings per share for the current fiscal year.

Insider Activity at Eaton

In other Eaton news, insider Ernest W. Marshall, Jr. sold 1,412 shares of Eaton 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 transaction, the insider now directly owns 31,200 shares of the company’s stock, valued at approximately $11,811,696. The trade was a 4.33 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gregory R. Page sold 10,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 43,203 shares of the company’s stock, valued at $15,379,403.94. This trade represents a 18.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.53% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ETN shares. Jefferies Financial Group lifted 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. Citigroup decreased their target price on shares of Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Melius Research restated a “hold” rating and set a $373.00 price objective on shares of Eaton in a research note on Tuesday, January 28th. Sanford C. Bernstein initiated coverage on shares of Eaton in a report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 target price on the stock. Finally, JPMorgan Chase & Co. cut their price objective on Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research 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 company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $369.20.

About Eaton

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.