Retirement Network acquired a new position in Eaton Co. PLC (NYSE:ETN) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 610 shares of the industrial products company’s stock, valued at approximately $58,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Beese Fulmer Investment Management Inc. increased its stake in shares of Eaton by 17.2% in the 3rd quarter. Beese Fulmer Investment Management Inc. now owns 12,237 shares of the industrial products company’s stock worth $1,018,000 after acquiring an additional 1,800 shares in the last quarter. Northern Oak Wealth Management Inc. bought a new position in shares of Eaton in the 3rd quarter worth about $33,000. Wealthsource Partners LLC increased its stake in shares of Eaton by 15.6% in the 3rd quarter. Wealthsource Partners LLC now owns 6,002 shares of the industrial products company’s stock worth $499,000 after acquiring an additional 811 shares in the last quarter. Edge Wealth Management LLC increased its stake in shares of Eaton by 8.9% in the 3rd quarter. Edge Wealth Management LLC now owns 36,990 shares of the industrial products company’s stock worth $3,075,000 after acquiring an additional 3,035 shares in the last quarter. Finally, M&G Investment Management Ltd. bought a new position in shares of Eaton in the 4th quarter worth about $639,000. Institutional investors and hedge funds own 77.78% of the company’s stock.
ETN stock traded up $0.55 during trading on Friday, hitting $103.44. 1,016,888 shares of the stock traded hands, compared to its average volume of 2,788,673. Eaton Co. PLC has a 1 year low of $74.29 and a 1 year high of $104.97. The firm’s 50 day moving average is $96.82 and its two-hundred day moving average is $88.18. The stock has a market cap of $42.59 billion, a price-to-earnings ratio of 19.66, a price-to-earnings-growth ratio of 2.04 and a beta of 1.42. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.70 and a quick ratio of 1.15.
Eaton (NYSE:ETN) last announced its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.37 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.40 by ($0.03). Eaton had a net margin of 10.34% and a return on equity of 14.75%. The firm had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.37 billion. During the same period last year, the company posted $1.46 earnings per share. The business’s revenue for the quarter was down 4.0% compared to the same quarter last year. As a group, analysts anticipate that Eaton Co. PLC will post 5.77 EPS for the current fiscal year.
ETN has been the subject of several research reports. Wells Fargo & Co increased their price target on shares of Eaton from $105.00 to $112.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. Gordon Haskett upgraded shares of Eaton from a “reduce” rating to a “hold” rating in a research note on Wednesday. Argus reiterated a “positive” rating and issued a $105.00 price target on shares of Eaton in a research note on Tuesday, January 21st. UBS Group assumed coverage on shares of Eaton in a research report on Thursday, December 12th. They set a “neutral” rating and a $98.00 price objective on the stock. Finally, Stephens increased their price objective on shares of Eaton from $110.00 to $112.00 and gave the company an “overweight” rating in a research report on Monday. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $101.56.
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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