Eaton Co. plc (NYSE:ETN) Shares Acquired by Venturi Wealth Management LLC

Venturi Wealth Management LLC grew its holdings in Eaton Co. plc (NYSE:ETN) by 29.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 2,002 shares of the industrial products company’s stock after buying an additional 453 shares during the period. Venturi Wealth Management LLC’s holdings in Eaton were worth $664,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. D.A. Davidson & CO. lifted its stake in shares of Eaton by 7.1% in the 4th quarter. D.A. Davidson & CO. now owns 27,572 shares of the industrial products company’s stock valued at $9,151,000 after purchasing an additional 1,838 shares during the last quarter. Citizens & Northern Corp raised its holdings in shares of Eaton by 348.4% in the 4th quarter. Citizens & Northern Corp now owns 4,148 shares of the industrial products company’s stock valued at $1,377,000 after buying an additional 3,223 shares during the period. Blue Chip Partners LLC raised its holdings in shares of Eaton by 84.1% in the 4th quarter. Blue Chip Partners LLC now owns 49,383 shares of the industrial products company’s stock valued at $16,389,000 after buying an additional 22,554 shares during the period. CIBC Asset Management Inc raised its holdings in shares of Eaton by 4.2% in the 4th quarter. CIBC Asset Management Inc now owns 60,587 shares of the industrial products company’s stock valued at $20,107,000 after buying an additional 2,454 shares during the period. Finally, 5T Wealth LLC purchased a new stake in shares of Eaton in the 4th quarter valued at $470,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Activity at Eaton

In related news, 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 directly owns 31,200 shares of the company’s stock, valued at $11,811,696. This represents a 4.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gregory R. Page sold 10,000 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $355.98, for a total value of $3,559,800.00. Following the completion of 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. Insiders own 0.33% of the company’s stock.

Eaton Trading Down 1.2 %

NYSE:ETN opened at $309.31 on Thursday. The stock has a 50-day simple moving average of $334.15 and a 200-day simple moving average of $332.04. The stock has a market cap of $122.24 billion, a P/E ratio of 32.56, a P/E/G ratio of 2.64 and a beta of 1.05. Eaton Co. plc has a 1 year low of $255.65 and a 1 year 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.

Eaton (NYSE:ETN) last announced its 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 previous year, the firm posted $2.55 earnings per share. As a group, analysts anticipate that Eaton Co. plc will post 12.03 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on ETN shares. UBS Group started coverage on Eaton in a report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 price objective on the stock. Barclays boosted their price objective on Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. JPMorgan Chase & Co. cut their price objective on Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Evercore ISI cut their price objective on Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a report on Wednesday. Finally, Sanford C. Bernstein initiated coverage on Eaton in a report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 price target on the stock. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $366.05.

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.