Pekin Hardy Strauss Inc. Buys 525 Shares of Eaton Co. plc (NYSE:ETN)

Pekin Hardy Strauss Inc. raised its holdings in Eaton Co. plc (NYSE:ETN) by 5.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,520 shares of the industrial products company’s stock after purchasing an additional 525 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in Eaton were worth $3,491,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Howard Capital Management Inc. grew its stake in Eaton by 8.1% in the 4th quarter. Howard Capital Management Inc. now owns 2,525 shares of the industrial products company’s stock valued at $838,000 after purchasing an additional 189 shares during the period. Wealthspire Advisors LLC grew its stake in Eaton by 3.1% in the 4th quarter. Wealthspire Advisors LLC now owns 8,724 shares of the industrial products company’s stock valued at $2,895,000 after purchasing an additional 261 shares during the period. Callan Capital LLC grew its stake in Eaton by 26.9% in the 4th quarter. Callan Capital LLC now owns 1,552 shares of the industrial products company’s stock valued at $515,000 after purchasing an additional 329 shares during the period. Redmond Asset Management LLC bought a new position in Eaton in the 4th quarter valued at $1,106,000. Finally, Boyd Watterson Asset Management LLC OH grew its stake in Eaton by 1.3% in the 4th quarter. Boyd Watterson Asset Management LLC OH now owns 23,779 shares of the industrial products company’s stock valued at $7,892,000 after purchasing an additional 313 shares during the period. Institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

ETN has been the subject of a number of recent analyst reports. Wells Fargo & Company restated an “equal weight” rating on shares of Eaton in a research note on Thursday, February 13th. JPMorgan Chase & Co. dropped their price target on Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. Bank of America upped their price target on Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Jefferies Financial Group upped their price target on Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating on shares of Eaton in a research report on Thursday, February 13th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $366.05.

Eaton Stock Performance

Shares of ETN opened at $297.11 on Friday. The company has a market cap of $117.42 billion, a PE ratio of 31.27, a price-to-earnings-growth ratio of 2.64 and a beta of 1.05. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. The stock has a 50-day moving average price of $331.97 and a 200-day moving average price of $332.43. Eaton Co. plc has a 12-month low of $255.65 and a 12-month high of $379.99.

Eaton (NYSE:ETN) last issued 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 quarter in the prior year, the firm posted $2.55 earnings per share. As a group, equities analysts forecast that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Gregory R. Page sold 10,000 shares of the firm’s stock in a transaction dated 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 transaction, 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 position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the firm’s stock in a transaction dated 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 directly owns 31,200 shares in the company, valued at approximately $11,811,696. This represents a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.53% of the company’s stock.

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.