Patriot Financial Group Insurance Agency LLC Has $1.17 Million Stock Holdings in Eaton Co. plc (NYSE:ETN)

Patriot Financial Group Insurance Agency LLC grew its stake in Eaton Co. plc (NYSE:ETN) by 147.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 3,523 shares of the industrial products company’s stock after buying an additional 2,098 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Eaton were worth $1,169,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Eaton by 253.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,273,685 shares of the industrial products company’s stock valued at $753,590,000 after buying an additional 1,629,856 shares during the period. International Assets Investment Management LLC raised its position in shares of Eaton by 27,075.5% in the 3rd quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company’s stock valued at $355,959,000 after acquiring an additional 1,070,024 shares during the period. Janus Henderson Group PLC boosted its stake in Eaton by 32.8% during the 3rd quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company’s stock worth $801,798,000 after acquiring an additional 597,700 shares during the last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in Eaton during the third quarter valued at approximately $137,794,000. Finally, Assenagon Asset Management S.A. increased its stake in Eaton by 3,508.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 401,728 shares of the industrial products company’s stock valued at $133,321,000 after purchasing an additional 390,595 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.

Insider Activity at Eaton

In other Eaton news, insider Craig Arnold sold 61,569 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the completion of the sale, the insider now owns 506,360 shares of the company’s stock, valued at $182,780,769.20. This trade represents a 10.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Gregory R. Page sold 4,000 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the completion of the transaction, the director now owns 51,422 shares in the company, 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. In the last ninety days, insiders sold 76,981 shares of company stock worth $27,660,117. Insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on ETN shares. Bank of America boosted their price target on shares of Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Sanford C. Bernstein started coverage on Eaton in a report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price target for the company. Melius Research reiterated a “hold” rating and set a $373.00 price objective on shares of Eaton in a report on Tuesday. UBS Group initiated coverage on Eaton in a research note on Wednesday, November 13th. They set a “buy” rating and a $431.00 target price for the company. Finally, Jefferies Financial Group lifted their price target on shares of Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Eaton has a consensus rating of “Moderate Buy” and a consensus target price of $369.30.

Eaton Stock Up 0.2 %

NYSE:ETN opened at $312.26 on Wednesday. Eaton Co. plc has a twelve month low of $244.35 and a twelve month high of $379.99. The firm has a market capitalization of $123.41 billion, a price-to-earnings ratio of 33.22, a price-to-earnings-growth ratio of 2.57 and a beta of 1.06. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. The stock’s 50 day moving average price is $353.01 and its two-hundred day moving average price is $331.34.

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

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.