New Wave Wealth Advisors LLC Acquires New Holdings in Eaton Co. plc (NYSE:ETN)

New Wave Wealth Advisors LLC bought a new position in shares of Eaton Co. plc (NYSE:ETN) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 383 shares of the industrial products company’s stock, valued at approximately $127,000.

Other institutional investors have also made changes to their positions in the company. B. Riley Wealth Advisors Inc. grew its position in Eaton by 48.9% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 41,106 shares of the industrial products company’s stock valued at $13,533,000 after acquiring an additional 13,497 shares in the last quarter. Lighthouse Wealth Management Inc. acquired a new position in shares of Eaton in the fourth quarter valued at approximately $297,000. Webster Bank N. A. increased its stake in Eaton by 52.4% during the 4th quarter. Webster Bank N. A. now owns 17,925 shares of the industrial products company’s stock worth $5,949,000 after buying an additional 6,166 shares during the period. Ballentine Partners LLC lifted its holdings in Eaton by 9.3% during the 4th quarter. Ballentine Partners LLC now owns 9,256 shares of the industrial products company’s stock worth $3,072,000 after buying an additional 790 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in shares of Eaton by 13.2% in the fourth quarter. Blue Trust Inc. now owns 14,494 shares of the industrial products company’s stock worth $4,804,000 after acquiring an additional 1,694 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Gregory R. Page sold 10,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director now owns 43,203 shares in the company, valued at $15,379,403.94. This represents a 18.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction, the insider now owns 506,360 shares in the company, valued at approximately $182,780,769.20. This trade represents a 10.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 72,981 shares of company stock valued at $26,318,917. Insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ETN. Barclays increased their price objective on Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Evercore ISI cut Eaton from an “outperform” rating to an “inline” rating and lifted their price objective for the company from $333.00 to $389.00 in a research note on Wednesday, November 13th. Bank of America upped their target price on shares of Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. UBS Group started coverage on shares of Eaton in a research note on Wednesday, November 13th. They issued a “buy” rating and a $431.00 price target for the company. Finally, Jefferies Financial Group increased their price objective on shares of Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $369.30.

Eaton Trading Down 0.2 %

ETN opened at $326.32 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. Eaton Co. plc has a 52 week low of $245.65 and a 52 week high of $379.99. The business’s 50 day moving average is $350.25 and its two-hundred day moving average is $331.09. The firm has a market cap of $128.96 billion, a price-to-earnings ratio of 34.72, a price-to-earnings-growth ratio of 2.21 and a beta of 1.06.

Eaton (NYSE:ETN) last announced its earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, beating analysts’ consensus estimates of $2.82 by $0.01. Eaton had a net margin of 15.32% and a return on equity of 21.97%. During the same period in the previous year, the business posted $2.55 EPS. On average, research analysts predict that Eaton Co. plc will post 10.79 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.