Portfolio Design Labs LLC Acquires 2,179 Shares of Eaton Co. plc (NYSE:ETN)

Portfolio Design Labs LLC raised its holdings in Eaton Co. plc (NYSE:ETN) by 38.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,867 shares of the industrial products company’s stock after buying an additional 2,179 shares during the period. Portfolio Design Labs LLC’s holdings in Eaton were worth $2,611,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Groupama Asset Managment grew its position in shares of Eaton by 83.2% in the third quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 4,298 shares during the last quarter. Horizon Bancorp Inc. IN boosted its holdings in shares of Eaton by 321.7% in 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 in the last quarter. Morse Asset Management Inc acquired a new stake in shares of Eaton in the 3rd quarter valued at $33,000. Activest Wealth Management boosted its holdings 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 valued at $34,000 after purchasing an additional 87 shares in the last quarter. Finally, DT Investment Partners LLC acquired a new stake in shares of Eaton in the 3rd quarter valued at $37,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Price Performance

Eaton stock opened at $316.92 on Wednesday. Eaton Co. plc has a 52 week low of $255.65 and a 52 week high of $379.99. The company’s 50 day moving average price is $342.21 and its two-hundred day moving average price is $331.48. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. The stock has a market cap of $125.25 billion, a P/E ratio of 33.36, a P/E/G ratio of 2.37 and a beta of 1.05.

Eaton (NYSE:ETN) last posted its earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, topping 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 quarter in the previous year, the company posted $2.55 EPS. On average, equities analysts predict that Eaton Co. plc will post 12.04 earnings per share for the current year.

Insider Buying and Selling

In related 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 value 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 document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of Eaton stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $378.58, for a total transaction of $534,554.96. Following the completion of the sale, the insider now directly owns 31,200 shares in the company, valued at $11,811,696. This trade represents a 4.33 % decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on ETN shares. Sanford C. Bernstein assumed coverage on Eaton in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price target for the company. Evercore ISI lowered Eaton from an “outperform” rating to an “inline” rating and raised their target price for the stock from $333.00 to $389.00 in a research report on Wednesday, November 13th. Barclays lifted their price objective on Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Mizuho raised their target price on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, Bank of America raised their target price on Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Eaton has a consensus rating of “Moderate Buy” and a consensus price target 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.