Adell Harriman & Carpenter Inc. Has $19.12 Million Holdings in Eaton Co. plc (NYSE:ETN)

Adell Harriman & Carpenter Inc. boosted its holdings in shares of Eaton Co. plc (NYSE:ETN) by 2.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,615 shares of the industrial products company’s stock after purchasing an additional 1,494 shares during the period. Eaton accounts for approximately 1.3% of Adell Harriman & Carpenter Inc.’s holdings, making the stock its 21st largest holding. Adell Harriman & Carpenter Inc.’s holdings in Eaton were worth $19,121,000 at the end of the most recent quarter.

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

Insider Transactions at Eaton

In other news, Director Gregory R. Page sold 10,000 shares of the firm’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 transaction of $3,559,800.00. Following the completion of the transaction, the director now directly owns 43,203 shares of the company’s stock, valued at $15,379,403.94. This trade represents a 18.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of Eaton 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 sale, the insider now 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 disclosure for this sale can be found here. 0.53% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Barclays upped 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. JPMorgan Chase & Co. cut their price target on Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. 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. Melius Research restated a “hold” rating and issued a $373.00 price objective on shares of Eaton in a report on Tuesday, January 28th. Finally, Wells Fargo & Company lowered their target price on shares of Eaton from $350.00 to $335.00 and set an “equal weight” rating for the company 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 company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $369.20.

Eaton Stock Up 0.5 %

NYSE:ETN opened at $309.21 on Friday. Eaton Co. plc has a 1 year low of $255.65 and a 1 year high of $379.99. The stock has a 50-day moving average price of $338.45 and a two-hundred day moving average price of $331.30. The stock has a market cap of $122.20 billion, a price-to-earnings ratio of 32.55, a PEG ratio of 2.37 and a beta of 1.05. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46.

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 last year, the firm posted $2.55 earnings per share. As a group, equities analysts expect that Eaton Co. plc will post 12.04 earnings per share for the current 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.