MONECO Advisors LLC Buys 201 Shares of Eaton Co. plc (NYSE:ETN)

MONECO Advisors LLC lifted its stake in shares of Eaton Co. plc (NYSE:ETN) by 8.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,531 shares of the industrial products company’s stock after purchasing an additional 201 shares during the period. MONECO Advisors LLC’s holdings in Eaton were worth $840,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. 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 purchasing an additional 74 shares in the last quarter. Morse Asset Management Inc bought a new stake in shares of Eaton during the 3rd quarter worth approximately $33,000. Activest Wealth Management raised its stake in shares of Eaton by 621.4% during the 4th quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 87 shares in the last quarter. Hager Investment Management Services LLC bought a new stake in shares of Eaton during the 4th quarter worth approximately $38,000. Finally, Sierra Ocean LLC bought a new stake in shares of Eaton during the 4th quarter worth approximately $39,000. Institutional investors own 82.97% of the company’s stock.

Analyst Ratings Changes

ETN has been the topic of a number of research analyst reports. Mizuho increased their price target on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Wells Fargo & Company restated an “equal weight” rating on shares of Eaton in a research note on Thursday, February 13th. JPMorgan Chase & Co. dropped 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. Barclays increased their price target on Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Finally, Melius cut Eaton from a “buy” rating to a “hold” rating and set a $373.00 price target on the stock. in a research note on Tuesday, January 28th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $366.05.

Eaton Stock Performance

ETN opened at $297.11 on Monday. The firm has a market cap of $117.42 billion, a P/E ratio of 31.27, a price-to-earnings-growth ratio of 2.64 and a beta of 1.05. Eaton Co. plc has a 52-week low of $255.65 and a 52-week high of $379.99. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. The business’s fifty day moving average is $331.97 and its 200-day moving average is $332.81.

Eaton (NYSE:ETN) last released its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, topping 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 quarter last year, the company posted $2.55 EPS. Sell-side analysts expect that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Insider Transactions at Eaton

In related news, Director Gregory R. Page sold 10,000 shares of the firm’s stock in a transaction dated 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 sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.53% of the stock is currently owned by insiders.

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.