R Squared Ltd Acquires New Position in Eaton Co. plc (NYSE:ETN)

R Squared Ltd bought a new position in shares of Eaton Co. plc (NYSE:ETN) in the fourth quarter, Holdings Channel.com reports. The firm bought 3,070 shares of the industrial products company’s stock, valued at approximately $1,019,000. Eaton accounts for 1.0% of R Squared Ltd’s holdings, making the stock its 3rd largest holding.

Other hedge funds and other institutional investors also recently modified their holdings of the company. B. Riley Wealth Advisors Inc. raised its holdings in Eaton by 48.9% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 41,106 shares of the industrial products company’s stock valued at $13,533,000 after acquiring an additional 13,497 shares during the period. Lighthouse Wealth Management Inc. bought a new stake in shares of Eaton during the 4th quarter valued at $297,000. Webster Bank N. A. lifted its holdings in Eaton by 52.4% during the 4th quarter. Webster Bank N. A. now owns 17,925 shares of the industrial products company’s stock worth $5,949,000 after purchasing an additional 6,166 shares in the last quarter. Ballentine Partners LLC boosted its stake in Eaton by 9.3% in the 4th quarter. Ballentine Partners LLC now owns 9,256 shares of the industrial products company’s stock worth $3,072,000 after purchasing an additional 790 shares during the period. Finally, Blue Trust Inc. grew its holdings in Eaton by 13.2% during the 4th quarter. Blue Trust Inc. now owns 14,494 shares of the industrial products company’s stock valued at $4,804,000 after buying an additional 1,694 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling at Eaton

In other Eaton news, Director Gregory R. Page sold 10,000 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at approximately $15,379,403.94. The trade was a 18.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was 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 represents a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 76,981 shares of company stock valued at $27,660,117 in the last 90 days. Insiders own 0.53% of the company’s stock.

Eaton Price Performance

Shares of Eaton stock opened at $312.26 on Wednesday. The stock has a market capitalization of $123.41 billion, a P/E ratio of 33.22, a price-to-earnings-growth ratio of 2.57 and a beta of 1.06. Eaton Co. plc has a one year low of $244.35 and a one year high of $379.99. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00. The business’s 50 day simple moving average is $353.01 and its two-hundred day simple moving average is $331.34.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. The business had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The company’s revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the firm earned $2.47 EPS. Analysts forecast that Eaton Co. plc will post 10.79 EPS for the current year.

Analyst Upgrades and Downgrades

ETN has been the subject of a number of analyst reports. Barclays raised their price objective on shares of Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Melius Research restated a “hold” rating and set a $373.00 price target on shares of Eaton in a research report on Tuesday. Mizuho increased their price objective on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Sanford C. Bernstein initiated coverage on Eaton in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 target price on the stock. Finally, Melius downgraded Eaton from a “buy” rating to a “hold” rating and set a $373.00 price target for the company. in a research report on Tuesday. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $369.30.

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.