D.A. Davidson & CO. Acquires 1,838 Shares of Eaton Co. plc (NYSE:ETN)

D.A. Davidson & CO. grew its holdings in Eaton Co. plc (NYSE:ETN) by 7.1% in the fourth quarter, HoldingsChannel reports. The fund owned 27,572 shares of the industrial products company’s stock after buying an additional 1,838 shares during the period. D.A. Davidson & CO.’s holdings in Eaton were worth $9,151,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. Groupama Asset Managment lifted its position in Eaton by 83.2% during the third quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 4,298 shares during the period. Horizon Bancorp Inc. IN lifted its position in Eaton by 321.7% during the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 74 shares during the period. Morse Asset Management Inc bought a new stake in Eaton during the third quarter worth about $33,000. Activest Wealth Management lifted its position in Eaton by 621.4% during the fourth quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 87 shares during the period. Finally, DT Investment Partners LLC bought a new stake in Eaton during the third quarter worth about $37,000. Institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ETN shares. Melius cut shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 price objective for the company. in a research report on Tuesday, January 28th. Bank of America increased their target price on shares of Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Melius Research reissued a “hold” rating and issued a $373.00 target price on shares of Eaton in a report on Tuesday, January 28th. Jefferies Financial Group increased their target price on shares of Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Finally, UBS Group started coverage on shares of Eaton in a report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 target price for the company. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $369.20.

Insiders Place Their Bets

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

Eaton Stock Performance

NYSE:ETN opened at $313.04 on Wednesday. The company has a market capitalization of $123.71 billion, a PE ratio of 32.95, a P/E/G ratio of 2.37 and a beta of 1.05. The company has a 50 day simple moving average of $336.11 and a two-hundred day simple moving average of $331.97. 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 fifty-two week low of $255.65 and a fifty-two week high of $379.99.

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, 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 prior year, the firm posted $2.55 earnings per share. Research analysts anticipate that Eaton Co. plc will post 12.04 earnings per share for the current year.

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.