WESPAC Advisors SoCal LLC Raises Holdings in Eaton Co. plc (NYSE:ETN)

WESPAC Advisors SoCal LLC lifted its holdings in shares of Eaton Co. plc (NYSE:ETN) by 54.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,625 shares of the industrial products company’s stock after buying an additional 8,021 shares during the period. Eaton comprises 1.7% of WESPAC Advisors SoCal LLC’s investment portfolio, making the stock its 22nd biggest holding. WESPAC Advisors SoCal LLC’s holdings in Eaton were worth $7,509,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of ETN. Groupama Asset Managment raised its stake in shares of Eaton by 83.2% during the 3rd quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock worth $31,000 after buying an additional 4,298 shares in the last quarter. Horizon Bancorp Inc. IN raised its stake in shares of Eaton by 321.7% during 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 in the last quarter. Morse Asset Management Inc purchased a new position in Eaton in the 3rd quarter valued at approximately $33,000. West Financial Advisors LLC purchased a new position in Eaton in the 3rd quarter valued at approximately $35,000. Finally, DT Investment Partners LLC purchased a new position in Eaton in the 3rd quarter valued at approximately $37,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Eaton Price Performance

Shares of Eaton stock opened at $315.74 on Tuesday. Eaton Co. plc has a twelve month low of $255.65 and a twelve month high of $379.99. The stock has a market capitalization of $124.78 billion, a P/E ratio of 33.24, a PEG ratio of 2.27 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. The business’s fifty day moving average price is $349.23 and its 200 day moving average price is $331.21.

Eaton (NYSE:ETN) last issued 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 return on equity of 22.62% and a net margin of 15.25%. During the same period in the previous year, the company earned $2.55 EPS. As a group, research analysts anticipate that Eaton Co. plc will post 12 earnings per share for the current year.

Insider Activity at Eaton

In other Eaton news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $378.58, for a total value of $534,554.96. Following the transaction, the insider now directly owns 31,200 shares of the company’s stock, valued at $11,811,696. This trade represents a 4.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Gregory R. Page sold 10,000 shares of the firm’s stock in a transaction dated 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 directly owns 43,203 shares in the company, valued at $15,379,403.94. This trade represents a 18.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 72,981 shares of company stock worth $26,318,917. 0.33% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ETN. Mizuho raised their price objective on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Royal Bank of Canada dropped their price objective on Eaton from $407.00 to $405.00 and set an “outperform” rating for the company in a research note on Monday. Melius cut Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price on the stock. in a report on Tuesday, January 28th. Jefferies Financial Group increased their target price on Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a report on Friday, December 6th. Finally, UBS Group began coverage on Eaton in a report on Wednesday, November 13th. They set a “buy” rating and a $431.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $369.20.

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.