Principle Wealth Partners LLC Purchases 126 Shares of Eaton Co. plc (NYSE:ETN)

Principle Wealth Partners LLC boosted its position in shares of Eaton Co. plc (NYSE:ETN) by 2.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,069 shares of the industrial products company’s stock after buying an additional 126 shares during the quarter. Principle Wealth Partners LLC’s holdings in Eaton were worth $2,014,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in ETN. Groupama Asset Managment raised 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 last quarter. Horizon Bancorp Inc. IN increased 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 valued at $32,000 after purchasing an additional 74 shares during the period. Morse Asset Management Inc bought a new position in Eaton during the 3rd quarter valued at approximately $33,000. Activest Wealth Management grew its position in shares of Eaton by 621.4% in the 4th quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock worth $34,000 after buying an additional 87 shares during the last quarter. Finally, DT Investment Partners LLC purchased a new position in shares of Eaton during the third quarter valued at approximately $37,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Activity at Eaton

In related news, insider Ernest W. Marshall, Jr. sold 1,412 shares of Eaton stock in a transaction on Monday, November 25th. The stock was sold at an average price of $378.58, for a total value of $534,554.96. Following the completion of the sale, the insider now owns 31,200 shares of the company’s stock, valued at $11,811,696. The trade was a 4.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gregory R. Page sold 10,000 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $355.98, for a total value of $3,559,800.00. Following the completion of the transaction, the director now directly owns 43,203 shares in the company, valued at approximately $15,379,403.94. This represents a 18.80 % decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by insiders.

Eaton Stock Up 2.2 %

Shares of Eaton stock opened at $319.97 on Tuesday. The company has a 50-day simple moving average of $343.25 and a two-hundred day simple moving average of $331.29. Eaton Co. plc has a 52-week low of $255.65 and a 52-week high of $379.99. 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 stock has a market capitalization of $126.45 billion, a PE ratio of 33.68, a price-to-earnings-growth ratio of 2.37 and a beta of 1.05.

Eaton (NYSE:ETN) last released its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.82 by $0.01. Eaton had a return on equity of 22.62% and a net margin of 15.25%. During the same period in the previous year, the firm posted $2.55 EPS. On average, analysts anticipate that Eaton Co. plc will post 12.04 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. JPMorgan Chase & Co. dropped their price target on Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. Mizuho lifted their target price on shares of Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Bank of America increased their price target 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. Melius Research reiterated a “hold” rating and set a $373.00 target price on shares of Eaton in a report on Tuesday, January 28th. Finally, Wells Fargo & Company lowered their target price on Eaton from $350.00 to $335.00 and set an “equal weight” rating for the company in a research note on Monday, February 3rd. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, Eaton presently has a consensus rating of “Moderate Buy” and a consensus target price of $369.20.

About Eaton

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.