Greenwood Capital Associates LLC Acquires Shares of 11,522 Eaton Co. plc (NYSE:ETN)

Greenwood Capital Associates LLC bought a new position in Eaton Co. plc (NYSE:ETN) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 11,522 shares of the industrial products company’s stock, valued at approximately $3,824,000.

Other 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 3rd quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock worth $31,000 after buying an additional 4,298 shares during the period. Horizon Bancorp Inc. IN increased its stake in shares of 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 purchasing an additional 74 shares in the last quarter. Morse Asset Management Inc bought a new stake in shares of Eaton in the 3rd quarter worth approximately $33,000. West Financial Advisors LLC purchased a new stake in shares of Eaton in the 3rd quarter worth approximately $35,000. Finally, DT Investment Partners LLC bought a new position in shares of Eaton during the third quarter valued at $37,000. 82.97% of the stock is currently owned by institutional investors.

Eaton Stock Up 0.1 %

Eaton stock opened at $315.68 on Tuesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. The stock has a market capitalization of $124.76 billion, a PE ratio of 33.23, a price-to-earnings-growth ratio of 2.27 and a beta of 1.05. Eaton Co. plc has a 12 month low of $255.65 and a 12 month high of $379.99. The business has a 50 day simple moving average of $349.23 and a 200-day simple moving average of $331.21.

Eaton (NYSE:ETN) last posted its quarterly earnings data 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 return on equity of 22.62% and a net margin of 15.25%. During the same quarter last year, the company posted $2.55 earnings per share. On average, analysts anticipate that Eaton Co. plc will post 12 EPS for the current fiscal year.

Insider Activity

In other Eaton news, insider Craig Arnold sold 61,569 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the transaction, the insider now owns 506,360 shares of the company’s stock, valued at approximately $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 SEC, which is accessible through the SEC website. Also, 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 transaction of $3,559,800.00. Following the transaction, the director now directly owns 43,203 shares in the company, valued at approximately $15,379,403.94. The trade was a 18.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 72,981 shares of company stock worth $26,318,917 over the last three months. Insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Royal Bank of Canada dropped their target price on Eaton from $407.00 to $405.00 and set an “outperform” rating on the stock in a research report on Monday. Wells Fargo & Company reduced their target price on shares of Eaton from $350.00 to $335.00 and set an “equal weight” rating for the company in a report on Monday. UBS Group started coverage on shares of Eaton in a research note on Wednesday, November 13th. They set a “buy” rating and a $431.00 price target on the stock. Melius Research restated a “hold” rating and issued a $373.00 price target on shares of Eaton in a research report on Tuesday, January 28th. Finally, Bank of America increased their price target on Eaton from $350.00 to $410.00 and gave the stock 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 given a buy rating to the stock. According to data from MarketBeat.com, Eaton currently has a consensus rating of “Moderate Buy” and an average 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.