Affinity Wealth Management LLC Has $4.51 Million Position in Eaton Co. plc (NYSE:ETN)

Affinity Wealth Management LLC lifted its holdings in Eaton Co. plc (NYSE:ETN) by 5.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,600 shares of the industrial products company’s stock after buying an additional 648 shares during the quarter. Affinity Wealth Management LLC’s holdings in Eaton were worth $4,513,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Groupama Asset Managment lifted its stake in shares of Eaton by 83.2% during the third quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 4,298 shares during the period. Horizon Bancorp Inc. IN raised its holdings in Eaton by 321.7% during the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 74 shares during the last quarter. Morse Asset Management Inc acquired a new position in Eaton during the 3rd quarter valued at about $33,000. West Financial Advisors LLC bought a new position in shares of Eaton in the 3rd quarter valued at about $35,000. Finally, DT Investment Partners LLC acquired a new stake in shares of Eaton during the 3rd quarter worth approximately $37,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Evercore ISI cut shares of Eaton from an “outperform” rating to an “inline” rating and raised their price objective for the company from $333.00 to $389.00 in a research note on Wednesday, November 13th. UBS Group assumed coverage on Eaton in a research report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 price target on the stock. Barclays upped their price objective on Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Citigroup reduced their target price on Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Finally, Jefferies Financial Group upped their price target on Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Eaton has an average rating of “Moderate Buy” and a consensus target price of $368.89.

Eaton Stock Down 0.3 %

Shares of NYSE ETN opened at $368.63 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53. Eaton Co. plc has a 52 week low of $241.87 and a 52 week high of $379.99. The stock has a market capitalization of $145.68 billion, a P/E ratio of 39.22, a PEG ratio of 2.57 and a beta of 1.06. The stock’s fifty day moving average is $353.96 and its 200 day moving average is $331.35.

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, beating analysts’ consensus estimates of $2.80 by $0.04. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The firm had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.37 billion. During the same quarter last year, the business posted $2.47 earnings per share. The company’s quarterly revenue was up 7.9% on a year-over-year basis. Sell-side analysts forecast that Eaton Co. plc will post 10.79 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Gregory R. Page sold 4,000 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $335.30, for a total value of $1,341,200.00. Following the completion of the sale, the director now directly owns 51,422 shares of the company’s stock, valued at approximately $17,241,796.60. This represents a 7.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $378.58, for a total transaction of $534,554.96. Following the completion of the sale, the insider now owns 31,200 shares of the company’s stock, valued at approximately $11,811,696. This represents a 4.33 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 76,981 shares of company stock worth $27,660,117. 0.53% of the stock is currently owned by company insiders.

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.