Affinity Wealth Management LLC Acquires 648 Shares of Eaton Co. plc (NYSE:ETN)

Affinity Wealth Management LLC raised its holdings in shares of Eaton Co. plc (NYSE:ETN) by 5.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,600 shares of the industrial products company’s stock after acquiring an additional 648 shares during the quarter. Affinity Wealth Management LLC’s holdings in Eaton were worth $4,513,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Groupama Asset Managment increased its position 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 buying an additional 4,298 shares during the period. Horizon Bancorp Inc. IN grew its stake in Eaton by 321.7% during the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 74 shares in the last quarter. Morse Asset Management Inc bought a new stake in Eaton during the 3rd quarter worth approximately $33,000. West Financial Advisors LLC bought a new position in Eaton in the 3rd quarter valued at $35,000. Finally, DT Investment Partners LLC purchased a new position in shares of Eaton during the 3rd quarter valued at $37,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Stock Performance

Eaton stock opened at $368.63 on Friday. The stock’s 50 day moving average is $353.96 and its 200 day moving average is $331.35. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $145.68 billion, a P/E ratio of 39.22, a PEG ratio of 2.57 and a beta of 1.06. Eaton Co. plc has a twelve month low of $241.87 and a twelve month high of $379.99.

Eaton (NYSE:ETN) last issued its earnings results on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, beating the consensus estimate of $2.80 by $0.04. The business had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The company’s revenue was up 7.9% compared to the same quarter last year. During the same period last year, the business posted $2.47 EPS. On average, equities research analysts predict that Eaton Co. plc will post 10.79 earnings per share for the current fiscal year.

Insider Activity at Eaton

In other news, Director Gregory R. Page sold 4,000 shares of Eaton stock in a transaction on Friday, November 1st. The shares were sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the transaction, the director now owns 51,422 shares in the company, valued at $17,241,796.60. This trade represents a 7.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the company’s stock in a transaction dated 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 approximately $11,811,696. The trade was a 4.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 76,981 shares of company stock worth $27,660,117 over the last quarter. Company insiders own 0.53% of the company’s stock.

Analysts Set New Price Targets

ETN has been the topic of several recent analyst reports. Wells Fargo & Company lowered their price target on Eaton from $365.00 to $350.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Royal Bank of Canada lifted their target price on shares of Eaton from $374.00 to $392.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. 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 report on Wednesday, November 13th. JPMorgan Chase & Co. dropped their price objective on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Finally, Citigroup reduced their target price on Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $368.89.

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.