New Wave Wealth Advisors LLC Purchases New Stake in Eaton Co. plc (NYSE:ETN)

New Wave Wealth Advisors LLC acquired a new position in Eaton Co. plc (NYSE:ETN) in the 4th quarter, Holdings Channel.com reports. The firm acquired 383 shares of the industrial products company’s stock, valued at approximately $127,000.

Several other institutional investors also recently made changes to their positions in ETN. Horizon Bancorp Inc. IN lifted its stake in shares of Eaton by 321.7% in the fourth 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 acquired a new stake in shares of Eaton during the 3rd quarter valued at approximately $33,000. West Financial Advisors LLC purchased a new stake in shares of Eaton during the 3rd quarter worth approximately $35,000. DT Investment Partners LLC acquired a new stake in shares of Eaton in the 3rd quarter worth approximately $37,000. Finally, RPg Family Wealth Advisory LLC purchased a new position in Eaton in the 3rd quarter valued at approximately $44,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Eaton

In other news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $378.58, for a total value of $534,554.96. Following the transaction, the insider now owns 31,200 shares of the company’s stock, valued at approximately $11,811,696. This trade represents a 4.33 % decrease in their position. 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 company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the sale, the director now directly owns 43,203 shares of the company’s stock, valued at approximately $15,379,403.94. This trade represents a 18.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 72,981 shares of company stock worth $26,318,917. 0.53% of the stock is owned by insiders.

Eaton Trading Down 0.2 %

Shares of ETN stock opened at $326.32 on Friday. The firm’s 50-day simple moving average is $350.25 and its 200-day simple moving average is $331.09. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00. Eaton Co. plc has a 1-year low of $245.65 and a 1-year high of $379.99. The firm has a market cap of $128.96 billion, a P/E ratio of 34.72, a PEG ratio of 2.21 and a beta of 1.06.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, topping analysts’ consensus estimates of $2.82 by $0.01. Eaton had a net margin of 15.32% and a return on equity of 21.97%. During the same quarter in the prior year, the company earned $2.55 EPS. As a group, equities analysts forecast that Eaton Co. plc will post 10.79 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have commented on ETN shares. Royal Bank of Canada boosted their target price on Eaton from $374.00 to $392.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. JPMorgan Chase & Co. lowered their price objective on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. Melius Research reaffirmed a “hold” rating and issued a $373.00 price target on shares of Eaton in a report on Tuesday. Mizuho raised their price objective on shares of Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, Bank of America upped 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 equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Eaton has a consensus rating of “Moderate Buy” and an average target price of $369.30.

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.