Kentucky Trust Co Acquires New Holdings in Eaton Co. plc (NYSE:ETN)

Kentucky Trust Co acquired a new stake in Eaton Co. plc (NYSE:ETN) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 230 shares of the industrial products company’s stock, valued at approximately $76,000.

A number of other institutional investors have also made changes to their positions in ETN. Groupama Asset Managment grew its holdings in Eaton by 83.2% in the 3rd quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock valued at $31,000 after buying an additional 4,298 shares during the last quarter. Horizon Bancorp Inc. IN grew its holdings in Eaton by 321.7% in the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after buying an additional 74 shares during the last quarter. Morse Asset Management Inc acquired a new stake in Eaton in the 3rd quarter valued at approximately $33,000. Activest Wealth Management grew its holdings in Eaton by 621.4% in the 4th quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock valued at $34,000 after buying an additional 87 shares during the last quarter. Finally, DT Investment Partners LLC acquired a new stake in Eaton in the 3rd quarter valued at approximately $37,000. 82.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ETN has been the topic of a number of research analyst reports. UBS Group initiated coverage on Eaton in a report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 target price on the stock. Barclays lifted their price objective on Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Citigroup decreased their price objective on Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Jefferies Financial Group lifted their price objective on Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Finally, Royal Bank of Canada decreased their price objective on Eaton from $407.00 to $405.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Eaton currently has a consensus rating of “Moderate Buy” and an average target price of $369.20.

Insider Buying and Selling at Eaton

In other news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the business’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 completion of the sale, the insider now owns 31,200 shares in the company, valued at $11,811,696. The trade was a 4.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gregory R. Page sold 10,000 shares of the business’s stock in a transaction 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 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. Corporate insiders own 0.53% of the company’s stock.

Eaton Trading Down 2.1 %

Shares of ETN opened at $309.93 on Thursday. The stock has a fifty day moving average price of $341.07 and a two-hundred day moving average price of $331.62. 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. The company has a market cap of $122.48 billion, a price-to-earnings ratio of 32.62, a PEG ratio of 2.37 and a beta of 1.05.

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 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 period in the prior year, the business posted $2.55 earnings per share. Analysts predict that Eaton Co. plc will post 12.04 EPS for the current fiscal year.

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.