Eaton Co. plc (NYSE:ETN) Holdings Lifted by Webster Bank N. A.

Webster Bank N. A. increased its holdings in Eaton Co. plc (NYSE:ETN) by 52.4% in the 4th quarter, Holdings Channel reports. The fund owned 17,925 shares of the industrial products company’s stock after purchasing an additional 6,166 shares during the period. Webster Bank N. A.’s holdings in Eaton were worth $5,949,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of ETN. Dark Forest Capital Management LP acquired a new position in Eaton in the 2nd quarter valued at approximately $400,000. Maverick Capital Ltd. acquired a new position in shares of Eaton in the second quarter worth $782,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Eaton during the second quarter worth $2,383,000. Ascent Group LLC boosted its position in Eaton by 7.2% during the second quarter. Ascent Group LLC now owns 792 shares of the industrial products company’s stock valued at $248,000 after purchasing an additional 53 shares during the last quarter. Finally, Aviso Wealth Management grew its stake in Eaton by 13.4% in the second quarter. Aviso Wealth Management now owns 785 shares of the industrial products company’s stock valued at $246,000 after purchasing an additional 93 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling at Eaton

In other Eaton news, insider Craig Arnold sold 61,569 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total value of $22,224,561.93. Following the transaction, the insider now directly owns 506,360 shares in the company, valued at $182,780,769.20. The trade was a 10.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the firm’s 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 sale, 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 have sold 76,981 shares of company stock worth $27,660,117 over the last three months. Company insiders own 0.53% of the company’s stock.

Analyst Upgrades and Downgrades

ETN has been the subject of a number of recent research reports. Jefferies Financial Group raised their price target on Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. 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 note on Friday, January 3rd. Sanford C. Bernstein initiated coverage on shares of Eaton in a research note on Tuesday, November 5th. They set an “outperform” rating and a $382.00 price target on the stock. Mizuho lifted their price objective 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. Finally, Evercore ISI downgraded shares of Eaton from an “outperform” rating to an “inline” rating and increased their target price for the stock from $333.00 to $389.00 in a research report on Wednesday, November 13th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $368.89.

Eaton Trading Down 0.3 %

Shares of ETN stock opened at $368.63 on Monday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53. The firm has a fifty day moving average of $353.96 and a 200-day moving average of $331.47. Eaton Co. plc has a 52-week low of $241.87 and a 52-week high of $379.99. The stock has a market cap of $145.68 billion, a price-to-earnings ratio of 39.22, a P/E/G ratio of 2.57 and a beta of 1.06.

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

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.