Oak Harvest Investment Services Purchases Shares of 15,685 Eaton Co. plc (NYSE:ETN)

Oak Harvest Investment Services acquired a new position in shares of Eaton Co. plc (NYSE:ETN) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 15,685 shares of the industrial products company’s stock, valued at approximately $5,205,000.

Several other hedge funds have also modified their holdings of ETN. Horizon Bancorp Inc. IN raised its position in shares of Eaton by 321.7% in the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock worth $32,000 after buying an additional 74 shares during the period. Morse Asset Management Inc acquired a new stake in Eaton in the 3rd quarter valued at $33,000. West Financial Advisors LLC acquired a new position in shares of Eaton during the third quarter worth about $35,000. DT Investment Partners LLC purchased a new stake in shares of Eaton in the third quarter worth about $37,000. Finally, RPg Family Wealth Advisory LLC acquired a new stake in shares of Eaton in the third quarter valued at about $44,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Gregory R. Page sold 10,000 shares of the 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 completion of the transaction, the director now owns 43,203 shares in the company, valued at approximately $15,379,403.94. This represents 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. Also, insider Craig Arnold sold 61,569 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total value of $22,224,561.93. Following the completion of the sale, the insider now owns 506,360 shares in the company, valued at approximately $182,780,769.20. This represents a 10.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 72,981 shares of company stock worth $26,318,917 in the last quarter. 0.53% of the stock is currently owned by company insiders.

Eaton Price Performance

NYSE ETN opened at $327.08 on Friday. The business’s fifty day moving average is $351.13 and its two-hundred day moving average is $331.12. The stock has a market capitalization of $129.26 billion, a P/E ratio of 34.80, a P/E/G ratio of 2.21 and a beta of 1.06. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53. Eaton Co. plc has a 1 year low of $245.65 and a 1 year high of $379.99.

Eaton (NYSE:ETN) last posted its earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.80 by $0.04. The firm had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The company’s revenue was up 7.9% compared to the same quarter last year. During the same period in the previous year, the company earned $2.47 earnings per share. On average, research analysts forecast that Eaton Co. plc will post 10.79 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ETN. Sanford C. Bernstein started coverage on shares of Eaton in a research note on Tuesday, November 5th. They set an “outperform” rating and a $382.00 price objective on the stock. Jefferies Financial Group boosted their price objective on shares of Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Wells Fargo & Company dropped their target price on Eaton from $365.00 to $350.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Citigroup cut their target price on Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Finally, Royal Bank of Canada lifted their price target on shares of Eaton from $374.00 to $392.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $369.30.

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.