Eaton Co. plc (NYSE:ETN) Shares Bought by Mengis Capital Management Inc.

Mengis Capital Management Inc. boosted its stake in shares of Eaton Co. plc (NYSE:ETN) by 5.5% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,772 shares of the industrial products company’s stock after purchasing an additional 145 shares during the period. Mengis Capital Management Inc.’s holdings in Eaton were worth $920,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ETN. Groupama Asset Managment grew its position in Eaton by 83.2% during the 3rd quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 4,298 shares during the period. Horizon Bancorp Inc. IN grew its position 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 period. Morse Asset Management Inc acquired a new stake in Eaton during the 3rd quarter worth about $33,000. Activest Wealth Management grew its position in shares of Eaton by 621.4% during the 4th quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 87 shares during the period. Finally, Hager Investment Management Services LLC acquired a new stake in shares of Eaton during the 4th quarter valued at about $38,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on ETN shares. Melius Research restated a “hold” rating and set a $373.00 target price on shares of Eaton in a research report on Tuesday, January 28th. Jefferies Financial Group raised their target price on Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Citigroup dropped their target price on Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Evercore ISI dropped their target price on Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a research report on Wednesday, February 19th. Finally, Wells Fargo & Company restated an “equal weight” rating on shares of Eaton in a research report on Thursday, February 13th. Seven 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 currently has a consensus rating of “Moderate Buy” and a consensus target price of $366.05.

Eaton Trading Down 2.6 %

ETN opened at $289.68 on Tuesday. 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 company’s 50 day simple moving average is $330.66 and its two-hundred day simple moving average is $332.83. Eaton Co. plc has a 1-year low of $255.65 and a 1-year high of $379.99. The firm has a market capitalization of $114.48 billion, a price-to-earnings ratio of 30.49, a price-to-earnings-growth ratio of 2.64 and a beta of 1.05.

Eaton (NYSE:ETN) last released its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, topping analysts’ consensus estimates 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 last year, the business posted $2.55 EPS. Analysts expect that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Gregory R. Page sold 10,000 shares of Eaton stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.53% of the company’s stock.

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.