Golden State Wealth Management LLC Buys Shares of 1,113 Eaton Co. plc (NYSE:ETN)

Golden State Wealth Management LLC purchased a new position in Eaton Co. plc (NYSE:ETN) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,113 shares of the industrial products company’s stock, valued at approximately $369,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Beese Fulmer Investment Management Inc. increased its holdings in shares of Eaton by 1.6% during the fourth quarter. Beese Fulmer Investment Management Inc. now owns 40,608 shares of the industrial products company’s stock valued at $13,477,000 after acquiring an additional 647 shares in the last quarter. Fairvoy Private Wealth LLC purchased a new position in Eaton in the fourth quarter worth about $543,000. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Eaton by 3.1% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 89,687 shares of the industrial products company’s stock worth $29,764,000 after buying an additional 2,686 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Eaton by 1.0% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,436,051 shares of the industrial products company’s stock valued at $476,582,000 after buying an additional 13,862 shares during the last quarter. Finally, Telligent Fund LP purchased a new position in Eaton in the 4th quarter worth approximately $1,991,000. Institutional investors own 82.97% of the company’s stock.

Insider Transactions at Eaton

In other news, Director Gregory R. Page sold 10,000 shares of the business’s 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 sale, the director now directly owns 43,203 shares in the company, valued at $15,379,403.94. The trade was a 18.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $378.58, for a total transaction of $534,554.96. Following the completion of the transaction, the insider now directly owns 31,200 shares of the company’s stock, valued at approximately $11,811,696. The trade was a 4.33 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.53% of the company’s stock.

Eaton Price Performance

Shares of NYSE:ETN opened at $313.11 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. Eaton Co. plc has a 1-year low of $255.65 and a 1-year high of $379.99. The firm’s 50 day simple moving average is $344.50 and its two-hundred day simple moving average is $331.06. The company has a market capitalization of $123.74 billion, a P/E ratio of 32.96, a P/E/G ratio of 2.27 and a beta of 1.05.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, beating 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 quarter last year, the company posted $2.55 earnings per share. Research analysts expect that Eaton Co. plc will post 12 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on ETN. Mizuho lifted their target price on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Jefferies Financial Group boosted their target price on Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. dropped their price target on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Wells Fargo & Company decreased their price objective on shares of Eaton from $350.00 to $335.00 and set an “equal weight” rating for the company in a report on Monday, February 3rd. Finally, Evercore ISI downgraded shares of Eaton from an “outperform” rating to an “inline” rating and lifted their target price for the stock from $333.00 to $389.00 in a research report on Wednesday, November 13th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Eaton has an average rating of “Moderate Buy” and an average price target of $369.20.

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.