Excalibur Management Corp Takes Position in Eaton Co. PLC (NYSE:ETN)

Excalibur Management Corp purchased a new stake in Eaton Co. PLC (NYSE:ETN) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 5,459 shares of the industrial products company’s stock, valued at approximately $517,000.

Other institutional investors have also made changes to their positions in the company. BlackRock Inc. lifted its stake in Eaton by 1.1% during the 2nd quarter. BlackRock Inc. now owns 30,504,507 shares of the industrial products company’s stock worth $2,540,415,000 after acquiring an additional 341,830 shares in the last quarter. Arden Trust Co acquired a new stake in Eaton in the 3rd quarter valued at about $408,000. Ackerman Capital Advisors LLC acquired a new stake in Eaton in the 3rd quarter valued at about $499,000. Old North State Trust LLC raised its position in Eaton by 49.1% in the 3rd quarter. Old North State Trust LLC now owns 492 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 162 shares in the last quarter. Finally, Cypress Capital Group raised its position in Eaton by 78.1% in the 3rd quarter. Cypress Capital Group now owns 8,319 shares of the industrial products company’s stock valued at $692,000 after purchasing an additional 3,649 shares in the last quarter. 77.78% of the stock is currently owned by institutional investors and hedge funds.

In related news, insider Joao V. Faria sold 16,988 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $90.98, for a total transaction of $1,545,568.24. Following the transaction, the insider now owns 58,841 shares in the company, valued at approximately $5,353,354.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michael J. Critelli sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $92.00, for a total value of $920,000.00. Following the transaction, the director now owns 55,566 shares in the company, valued at approximately $5,112,072. The disclosure for this sale can be found here. Company insiders own 0.70% of the company’s stock.

ETN has been the topic of a number of analyst reports. Robert W. Baird increased their price target on Eaton from $101.00 to $104.00 and gave the company a “neutral” rating in a research report on Wednesday. Wells Fargo & Co increased their price target on Eaton from $105.00 to $112.00 and gave the company an “overweight” rating in a research report on Wednesday. Bank of America raised Eaton from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 17th. Wolfe Research raised Eaton from a “peer perform” rating to an “outperform” rating in a research report on Thursday, January 9th. Finally, UBS Group initiated coverage on Eaton in a research report on Thursday, December 12th. They issued a “neutral” rating and a $98.00 price target on the stock. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $100.13.

ETN opened at $102.34 on Thursday. Eaton Co. PLC has a one year low of $74.29 and a one year high of $103.21. The company has a market cap of $41.72 billion, a P/E ratio of 19.46, a PEG ratio of 2.01 and a beta of 1.42. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.10 and a current ratio of 1.70. The business’s 50-day simple moving average is $95.50 and its 200-day simple moving average is $87.30.

Eaton (NYSE:ETN) last released its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.37 EPS for the quarter, missing analysts’ consensus estimates of $1.40 by ($0.03). Eaton had a net margin of 10.34% and a return on equity of 14.75%. The business had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.37 billion. During the same quarter in the previous year, the company posted $1.46 EPS. The company’s revenue was down 4.0% compared to the same quarter last year. As a group, analysts predict that Eaton Co. PLC will post 5.75 earnings per share for the current fiscal year.

About Eaton

Eaton Corporation plc operates as a power management company worldwide. Its Electrical Products segment offers electrical and industrial components, residential products, single phase power quality products, emergency lighting and fire detection products, wiring devices, structural support systems, and circuit protection and lighting products.

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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