Silver Oak Securities Incorporated Grows Stake in Eaton Co. plc (NYSE:ETN)

Silver Oak Securities Incorporated lifted its position in shares of Eaton Co. plc (NYSE:ETN) by 6.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,448 shares of the industrial products company’s stock after acquiring an additional 88 shares during the quarter. Silver Oak Securities Incorporated’s holdings in Eaton were worth $481,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in ETN. Brookstone Capital Management lifted its position in shares of Eaton by 6.7% in the 3rd quarter. Brookstone Capital Management now owns 2,766 shares of the industrial products company’s stock worth $917,000 after purchasing an additional 173 shares during the period. CWM LLC lifted its holdings in Eaton by 3.2% during the third quarter. CWM LLC now owns 17,348 shares of the industrial products company’s stock worth $5,750,000 after buying an additional 537 shares during the period. Cypress Wealth Services LLC purchased a new position in shares of Eaton in the 3rd quarter valued at $201,000. Contravisory Investment Management Inc. raised its position in shares of Eaton by 7.0% in the 3rd quarter. Contravisory Investment Management Inc. now owns 1,867 shares of the industrial products company’s stock worth $619,000 after acquiring an additional 122 shares in the last quarter. Finally, Watts Gwilliam & Co. LLC purchased a new stake in shares of Eaton during the 3rd quarter worth $346,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Stock Performance

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

Eaton (NYSE:ETN) last announced its quarterly earnings results 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 return on equity of 22.62% and a net margin of 15.25%. During the same period in the prior year, the firm earned $2.55 earnings per share. On average, equities analysts forecast that Eaton Co. plc will post 12 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Barclays boosted their target price on shares of Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Bank of America raised their target price on shares of Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Mizuho upped their price target on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research 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 note on Friday, December 6th. Finally, Citigroup decreased their price target on Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Eaton currently has a consensus rating of “Moderate Buy” and a consensus target price of $369.20.

Insider Activity at Eaton

In other news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the business’s 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 sale, the insider now owns 31,200 shares of the company’s stock, valued at $11,811,696. The trade was a 4.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gregory R. Page sold 10,000 shares of the firm’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 completion of the transaction, the director now directly owns 43,203 shares in the company, valued at $15,379,403.94. This represents a 18.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is owned by company insiders.

Eaton 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.