Mill Creek Capital Advisors LLC Invests $396,000 in Eaton Co. plc (NYSE:ETN)

Mill Creek Capital Advisors LLC acquired a new stake in Eaton Co. plc (NYSE:ETN) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,194 shares of the industrial products company’s stock, valued at approximately $396,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ETN. CHICAGO TRUST Co NA grew its stake in Eaton by 77.7% in the 3rd quarter. CHICAGO TRUST Co NA now owns 1,965 shares of the industrial products company’s stock valued at $651,000 after acquiring an additional 859 shares during the last quarter. Sound Income Strategies LLC raised its holdings in shares of Eaton by 62.9% in the third quarter. Sound Income Strategies LLC now owns 697 shares of the industrial products company’s stock worth $231,000 after acquiring an additional 269 shares during the last quarter. Willis Investment Counsel lifted its position in shares of Eaton by 43.5% in the third quarter. Willis Investment Counsel now owns 61,626 shares of the industrial products company’s stock valued at $20,425,000 after acquiring an additional 18,685 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its stake in shares of Eaton by 251.5% during the third quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 1,037 shares of the industrial products company’s stock valued at $344,000 after acquiring an additional 742 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. increased its position in Eaton by 3.4% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 6,358 shares of the industrial products company’s stock worth $2,107,000 after purchasing an additional 207 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Eaton Trading Up 2.2 %

Shares of ETN opened at $319.97 on Tuesday. 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 one year low of $255.65 and a one year high of $379.99. The stock has a 50-day moving average price of $343.25 and a 200 day moving average price of $331.29. The company has a market capitalization of $126.45 billion, a P/E ratio of 33.68, a P/E/G ratio of 2.37 and a beta of 1.05.

Eaton (NYSE:ETN) last released its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, topping 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 prior year, the company earned $2.55 earnings per share. Sell-side analysts forecast that Eaton Co. plc will post 12.04 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the firm’s stock in a transaction on 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 in the company, valued at $11,811,696. This trade represents a 4.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Gregory R. Page sold 10,000 shares of the business’s stock in a transaction on 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 sale, the director now owns 43,203 shares of the company’s stock, valued at approximately $15,379,403.94. The trade was a 18.80 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on ETN shares. Mizuho boosted 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. Royal Bank of Canada lowered their price objective on Eaton from $407.00 to $405.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Bank of America increased their target price on Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. JPMorgan Chase & Co. cut their price objective 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. Finally, Jefferies Financial Group boosted their target price on shares of Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a report on Friday, December 6th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $369.20.

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.