Eaton Co. plc (NYSE:ETN) is Rice Partnership LLC’s 10th Largest Position

Rice Partnership LLC boosted its stake in Eaton Co. plc (NYSE:ETN) by 6.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 47,270 shares of the industrial products company’s stock after acquiring an additional 2,903 shares during the period. Eaton comprises approximately 3.0% of Rice Partnership LLC’s portfolio, making the stock its 10th largest position. Rice Partnership LLC’s holdings in Eaton were worth $15,688,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Resonant Capital Advisors LLC lifted its position in Eaton by 3.6% in the fourth quarter. Resonant Capital Advisors LLC now owns 1,982 shares of the industrial products company’s stock valued at $658,000 after acquiring an additional 68 shares during the last quarter. Panoramic Investment Advisors LLC raised its holdings in shares of Eaton by 10.2% in the fourth quarter. Panoramic Investment Advisors LLC now owns 1,029 shares of the industrial products company’s stock valued at $341,000 after buying an additional 95 shares during the last quarter. Catalina Capital Group LLC raised its holdings in shares of Eaton by 1.7% in the fourth quarter. Catalina Capital Group LLC now owns 2,632 shares of the industrial products company’s stock valued at $874,000 after buying an additional 43 shares during the last quarter. JB Capital LLC raised its holdings in shares of Eaton by 2.6% in the fourth quarter. JB Capital LLC now owns 11,801 shares of the industrial products company’s stock valued at $3,916,000 after buying an additional 297 shares during the last quarter. Finally, Chicago Capital LLC raised its holdings in shares of Eaton by 2.8% in the fourth quarter. Chicago Capital LLC now owns 67,623 shares of the industrial products company’s stock valued at $22,442,000 after buying an additional 1,834 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on ETN. Melius Research reaffirmed a “hold” rating and issued a $373.00 target price on shares of Eaton in a report on Tuesday, January 28th. Sanford C. Bernstein assumed coverage on shares of Eaton in a research note on Tuesday, November 5th. They set an “outperform” rating and a $382.00 price target on the stock. Melius lowered shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price on the stock. in a research report on Tuesday, January 28th. Bank of America upped their target price on shares of Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, Jefferies Financial Group increased their price target on shares of Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Six 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.com, Eaton has a consensus rating of “Moderate Buy” and a consensus target price of $369.30.

Eaton Stock Performance

NYSE:ETN opened at $326.32 on Monday. Eaton Co. plc has a fifty-two week low of $245.65 and a fifty-two week high of $379.99. The firm’s 50 day moving average is $349.23 and its two-hundred day moving average is $331.21. The company has a market cap of $128.96 billion, a P/E ratio of 34.35, a P/E/G ratio of 2.27 and a beta of 1.05. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46.

Eaton (NYSE:ETN) last released its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.82 by $0.01. Eaton had a net margin of 15.25% and a return on equity of 22.62%. During the same period last year, the company earned $2.55 earnings per share. Analysts expect that Eaton Co. plc will post 12 EPS for the current year.

Insider Transactions at Eaton

In related 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 transaction 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 approximately $11,811,696. This trade represents a 4.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Craig Arnold sold 61,569 shares of the firm’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 directly owns 506,360 shares of the company’s stock, valued at approximately $182,780,769.20. This represents a 10.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 72,981 shares of company stock valued at $26,318,917 over the last 90 days. Corporate insiders own 0.33% of the company’s stock.

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.