SeaBridge Investment Advisors LLC Invests $294,000 in Eaton Co. plc (NYSE:ETN)

SeaBridge Investment Advisors LLC bought a new stake in Eaton Co. plc (NYSE:ETN) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 885 shares of the industrial products company’s stock, valued at approximately $294,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Chicago Partners Investment Group LLC boosted its holdings in shares of Eaton by 9.1% in the fourth quarter. Chicago Partners Investment Group LLC now owns 3,357 shares of the industrial products company’s stock valued at $1,159,000 after acquiring an additional 279 shares in the last quarter. Waldron Private Wealth LLC boosted its stake in Eaton by 7.0% during the 4th quarter. Waldron Private Wealth LLC now owns 2,706 shares of the industrial products company’s stock valued at $898,000 after purchasing an additional 178 shares in the last quarter. Scharf Investments LLC increased its position in shares of Eaton by 7.3% during the 4th quarter. Scharf Investments LLC now owns 3,327 shares of the industrial products company’s stock valued at $1,104,000 after purchasing an additional 225 shares during the period. Everett Harris & Co. CA lifted its holdings in shares of Eaton by 31.4% in the fourth quarter. Everett Harris & Co. CA now owns 1,223 shares of the industrial products company’s stock valued at $406,000 after buying an additional 292 shares during the period. Finally, Clear Creek Financial Management LLC boosted its stake in Eaton by 90.1% during the fourth quarter. Clear Creek Financial Management LLC now owns 2,753 shares of the industrial products company’s stock valued at $914,000 after buying an additional 1,305 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Insiders Place Their Bets

In other news, insider Ernest W. Marshall, Jr. sold 1,412 shares of Eaton stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $378.58, for a total value 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 document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gregory R. Page sold 10,000 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the sale, the director now directly owns 43,203 shares of the company’s stock, valued at approximately $15,379,403.94. This represents a 18.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 72,981 shares of company stock valued at $26,318,917 over the last three months. 0.53% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on ETN shares. Mizuho boosted their price target on shares of Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. cut their target price on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. Bank of America lifted their price target on shares of Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Royal Bank of Canada upped their price target on Eaton from $374.00 to $392.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Finally, UBS Group started coverage on Eaton in a research note on Wednesday, November 13th. They set a “buy” rating and a $431.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $369.30.

Eaton Stock Performance

Shares of NYSE ETN opened at $326.32 on Friday. 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 Co. plc has a one year low of $245.65 and a one year high of $379.99. The business’s 50-day moving average price is $349.23 and its two-hundred day moving average price is $331.08. The company has a market capitalization of $128.96 billion, a P/E ratio of 34.72, a price-to-earnings-growth ratio of 2.21 and a beta of 1.06.

Eaton (NYSE:ETN) last released its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, topping analysts’ consensus estimates of $2.82 by $0.01. Eaton had a return on equity of 21.97% and a net margin of 15.32%. During the same period in the prior year, the company earned $2.55 EPS. Analysts anticipate that Eaton Co. plc will post 10.79 earnings per share for the current fiscal year.

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.