MFA Wealth Services Purchases New Stake in Eaton Co. plc (NYSE:ETN)

MFA Wealth Services acquired a new stake in Eaton Co. plc (NYSE:ETN) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 1,860 shares of the industrial products company’s stock, valued at approximately $617,000.

A number of other hedge funds also recently modified their holdings of ETN. B. Riley Wealth Advisors Inc. lifted its position in Eaton by 48.9% during the third quarter. B. Riley Wealth Advisors Inc. now owns 41,106 shares of the industrial products company’s stock worth $13,533,000 after acquiring an additional 13,497 shares during the last quarter. Ballentine Partners LLC boosted its stake in Eaton by 9.3% in the 4th quarter. Ballentine Partners LLC now owns 9,256 shares of the industrial products company’s stock valued at $3,072,000 after purchasing an additional 790 shares during the period. Dakota Wealth Management grew its holdings in Eaton by 8.8% in the 4th quarter. Dakota Wealth Management now owns 49,436 shares of the industrial products company’s stock valued at $16,406,000 after buying an additional 4,011 shares in the last quarter. Scientech Research LLC increased its position in Eaton by 285.5% during the 2nd quarter. Scientech Research LLC now owns 5,744 shares of the industrial products company’s stock worth $1,801,000 after buying an additional 4,254 shares during the period. Finally, Eastover Investment Advisors LLC bought a new stake in shares of Eaton in the fourth quarter valued at about $6,167,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Activity at Eaton

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 transaction, the director now owns 51,422 shares of the company’s stock, valued at $17,241,796.60. This represents a 7.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Craig Arnold sold 61,569 shares of Eaton stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total value of $22,224,561.93. Following the sale, the insider now directly owns 506,360 shares of the company’s stock, valued at approximately $182,780,769.20. This trade represents a 10.84 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 76,981 shares of company stock worth $27,660,117. 0.53% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

ETN has been the subject of several analyst reports. Royal Bank of Canada lifted their price objective on shares of Eaton from $374.00 to $392.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Citigroup reduced their price target on Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. UBS Group began coverage on Eaton in a report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 price objective for the company. Mizuho increased their price objective on shares of Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, Sanford C. Bernstein started coverage on shares of Eaton in a research report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 target price for the company. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $368.89.

Eaton Trading Down 0.4 %

NYSE ETN opened at $369.58 on Friday. The stock has a market capitalization of $146.06 billion, a price-to-earnings ratio of 39.32, a PEG ratio of 2.57 and a beta of 1.06. The business’s fifty day moving average is $353.61 and its 200-day moving average is $330.74. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00. Eaton Co. plc has a one year low of $241.45 and a one year high of $379.99.

Eaton (NYSE:ETN) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, topping the consensus estimate of $2.80 by $0.04. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The company had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.37 billion. During the same period last year, the firm earned $2.47 EPS. Eaton’s revenue for the quarter was up 7.9% on a year-over-year basis. Equities 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.