Eaton Co. plc (NYSE:ETN) is Rice Partnership LLC’s 10th Largest Position

Rice Partnership LLC grew its holdings in shares of Eaton Co. plc (NYSE:ETN) by 6.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 47,270 shares of the industrial products company’s stock after purchasing an additional 2,903 shares during the period. Eaton makes up about 3.0% of Rice Partnership LLC’s portfolio, making the stock its 10th biggest holding. Rice Partnership LLC’s holdings in Eaton were worth $15,688,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ETN. Resonant Capital Advisors LLC increased its position in shares of Eaton by 3.6% in the 4th quarter. Resonant Capital Advisors LLC now owns 1,982 shares of the industrial products company’s stock valued at $658,000 after acquiring an additional 68 shares during the period. Panoramic Investment Advisors LLC increased its position in shares of Eaton by 10.2% in the 4th quarter. Panoramic Investment Advisors LLC now owns 1,029 shares of the industrial products company’s stock valued at $341,000 after acquiring an additional 95 shares during the period. Catalina Capital Group LLC increased its position in shares of Eaton by 1.7% in the 4th quarter. Catalina Capital Group LLC now owns 2,632 shares of the industrial products company’s stock valued at $874,000 after acquiring an additional 43 shares during the period. JB Capital LLC increased its position in shares of Eaton by 2.6% in the 4th quarter. JB Capital LLC now owns 11,801 shares of the industrial products company’s stock valued at $3,916,000 after acquiring an additional 297 shares during the period. Finally, Chicago Capital LLC grew its position in Eaton by 2.8% during the 4th quarter. Chicago Capital LLC now owns 67,623 shares of the industrial products company’s stock worth $22,442,000 after purchasing an additional 1,834 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on ETN shares. Mizuho increased their price target on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Barclays increased their price target on Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Jefferies Financial Group increased their price target on Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. cut their price target on Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. Finally, Melius Research reaffirmed a “hold” rating and set a $373.00 price target on shares of Eaton in a research report on Tuesday, January 28th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $369.30.

Insiders Place Their Bets

In other news, insider Craig Arnold sold 61,569 shares of Eaton stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the completion of the sale, the insider now directly owns 506,360 shares of the company’s stock, valued at approximately $182,780,769.20. The trade was a 10.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gregory R. Page sold 10,000 shares of Eaton 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 trade represents a 18.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 72,981 shares of company stock worth $26,318,917 over the last 90 days. Corporate insiders own 0.33% of the company’s stock.

Eaton Stock Down 0.2 %

ETN stock opened at $326.32 on Monday. The firm has a market cap of $128.96 billion, a PE ratio of 34.35, a PEG ratio of 2.27 and a beta of 1.05. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. The firm’s 50 day moving average price is $349.23 and its 200-day moving average price is $331.21. Eaton Co. plc has a one year low of $245.65 and a one year high of $379.99.

Eaton (NYSE:ETN) last posted its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, beating the consensus estimate of $2.82 by $0.01. Eaton had a net margin of 15.25% and a return on equity of 22.62%. During the same period in the prior year, the firm posted $2.55 earnings per share. On average, equities research analysts anticipate that Eaton Co. plc will post 12 EPS for the current year.

Eaton Company 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.