Eaton Co. plc (NYSE:ETN) Shares Acquired by Proficio Capital Partners LLC

Proficio Capital Partners LLC grew its holdings in Eaton Co. plc (NYSE:ETN) by 42,255.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 732,323 shares of the industrial products company’s stock after acquiring an additional 730,594 shares during the period. Proficio Capital Partners LLC owned about 0.19% of Eaton worth $243,036,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Oppenheimer & Co. Inc. boosted its holdings in shares of Eaton by 9.4% in the 4th quarter. Oppenheimer & Co. Inc. now owns 77,155 shares of the industrial products company’s stock valued at $25,605,000 after acquiring an additional 6,635 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in shares of Eaton by 0.3% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 46,813 shares of the industrial products company’s stock valued at $15,536,000 after acquiring an additional 159 shares during the last quarter. Kovack Advisors Inc. purchased a new stake in shares of Eaton in the 4th quarter valued at $226,000. Mn Services Vermogensbeheer B.V. boosted its holdings in shares of Eaton by 2.3% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 157,714 shares of the industrial products company’s stock valued at $52,341,000 after acquiring an additional 3,600 shares during the last quarter. Finally, K.J. Harrison & Partners Inc purchased a new stake in shares of Eaton in the 4th quarter valued at $764,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ETN. Citigroup lowered their price target on shares of Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Evercore ISI lowered their target price on shares of Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a research note on Wednesday, February 19th. Melius Research reaffirmed a “hold” rating and set a $373.00 target price on shares of Eaton in a research note on Tuesday, January 28th. Melius lowered shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 price objective for the company. in a research note on Tuesday, January 28th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $366.05.

Insider Buying and Selling at Eaton

In other Eaton news, 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 value of $3,559,800.00. Following the transaction, the director now directly 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.33% of the stock is currently owned by corporate insiders.

Eaton Stock Performance

Shares of Eaton stock opened at $297.28 on Thursday. The firm’s fifty day simple moving average is $328.71 and its 200-day simple moving average is $332.55. The stock has a market capitalization of $117.48 billion, a price-to-earnings ratio of 31.29, a PEG ratio of 2.64 and a beta of 1.05. Eaton Co. plc has a 12 month low of $255.65 and a 12 month high of $379.99. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96.

Eaton (NYSE:ETN) last announced 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 net margin of 15.25% and a return on equity of 22.62%. During the same period in the previous year, the company posted $2.55 EPS. As a group, equities analysts forecast that Eaton Co. plc will post 12.02 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.