Eaton Co. plc (NYSE:ETN) Shares Bought by Atomi Financial Group Inc.

Atomi Financial Group Inc. raised its stake in shares of Eaton Co. plc (NYSE:ETN) by 13.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,559 shares of the industrial products company’s stock after acquiring an additional 532 shares during the period. Atomi Financial Group Inc.’s holdings in Eaton were worth $1,513,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Seven Eight Capital LP acquired a new position in Eaton during the second quarter worth $270,000. Thrivent Financial for Lutherans lifted its stake in Eaton by 110.2% during the 2nd quarter. Thrivent Financial for Lutherans now owns 57,820 shares of the industrial products company’s stock worth $18,129,000 after acquiring an additional 30,319 shares in the last quarter. ProShare Advisors LLC boosted its holdings in Eaton by 10.9% during the 2nd quarter. ProShare Advisors LLC now owns 60,658 shares of the industrial products company’s stock valued at $19,019,000 after acquiring an additional 5,970 shares during the period. EverSource Wealth Advisors LLC grew its position in Eaton by 44.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,777 shares of the industrial products company’s stock valued at $542,000 after acquiring an additional 547 shares in the last quarter. Finally, Certified Advisory Corp increased its stake in Eaton by 25.0% during the second quarter. Certified Advisory Corp now owns 1,060 shares of the industrial products company’s stock worth $332,000 after purchasing an additional 212 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related 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 transaction of $534,554.96. Following the transaction, the insider now 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 filing with the SEC, which is available through this link. Also, Director Gregory R. Page sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $335.30, for a total value of $1,341,200.00. Following the sale, the director now directly owns 51,422 shares of the company’s stock, valued at approximately $17,241,796.60. This represents a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 76,981 shares of company stock valued at $27,660,117 in the last ninety days. 0.33% of the stock is currently owned by company insiders.

Eaton Price Performance

Shares of ETN opened at $357.45 on Wednesday. The firm has a fifty day moving average price of $353.82 and a 200 day moving average price of $330.17. The stock has a market cap of $141.27 billion, a PE ratio of 38.03, a price-to-earnings-growth ratio of 2.40 and a beta of 1.06. Eaton Co. plc has a 1-year low of $239.17 and a 1-year high of $379.99. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00.

Eaton (NYSE:ETN) last announced 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 return on equity of 21.97% and a net margin of 15.32%. The business’s revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the firm earned $2.47 EPS. As a group, sell-side analysts anticipate that Eaton Co. plc will post 10.79 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ETN. Sanford C. Bernstein started coverage on shares of Eaton in a report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price objective for the company. Mizuho upped their price objective on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Royal Bank of Canada lifted their target price on Eaton from $374.00 to $392.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Citigroup cut their price target on Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Finally, Bank of America boosted their price objective on Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $368.89.

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.