Venturi Wealth Management LLC Increases Stake in Eaton Co. plc (NYSE:ETN)

Venturi Wealth Management LLC increased its position in shares of Eaton Co. plc (NYSE:ETN) by 29.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,002 shares of the industrial products company’s stock after buying an additional 453 shares during the period. Venturi Wealth Management LLC’s holdings in Eaton were worth $664,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in ETN. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Eaton by 253.2% during 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 purchasing an additional 1,629,856 shares in the last quarter. International Assets Investment Management LLC boosted its position in Eaton by 27,075.5% during the third 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 purchasing an additional 1,070,024 shares in the last quarter. Janus Henderson Group PLC boosted its position in Eaton by 32.8% during the third quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company’s stock valued at $801,798,000 after purchasing an additional 597,700 shares in the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in Eaton during the third quarter valued at about $137,794,000. Finally, Assenagon Asset Management S.A. boosted its position in Eaton by 3,508.4% during 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. Institutional investors own 82.97% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on ETN. Bank of America raised their price target on Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Melius Research restated a “hold” rating and issued a $373.00 price objective on shares of Eaton in a research note on Tuesday, January 28th. Barclays raised their price objective on Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Wells Fargo & Company reduced their price objective on Eaton from $350.00 to $335.00 and set an “equal weight” rating for the company in a research note on Monday, February 3rd. Finally, Evercore ISI reduced their price objective on Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a research note on Wednesday. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Eaton has a consensus rating of “Moderate Buy” and a consensus price target of $366.05.

Eaton Stock Performance

Shares of NYSE:ETN opened at $309.31 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. The business’s 50 day moving average price is $334.15 and its 200-day moving average price is $332.04. The firm has a market capitalization of $122.24 billion, a PE ratio of 32.56, a P/E/G ratio of 2.64 and a beta of 1.05. Eaton Co. plc has a 1 year low of $255.65 and a 1 year high of $379.99.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.82 by $0.01. Eaton had a return on equity of 22.62% and a net margin of 15.25%. During the same period last year, the firm earned $2.55 EPS. As a group, equities research analysts expect that Eaton Co. plc will post 12.03 earnings per share for the current fiscal year.

Insider Transactions at Eaton

In other Eaton news, Director Gregory R. Page sold 10,000 shares of the business’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 transaction, the director now owns 43,203 shares of the company’s stock, valued at approximately $15,379,403.94. The trade was a 18.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $378.58, for a total value of $534,554.96. Following the transaction, the insider now directly owns 31,200 shares in the company, valued at $11,811,696. This trade represents a 4.33 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

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.