Atomi Financial Group Inc. Raises Position in Eaton Co. plc (NYSE:ETN)

Atomi Financial Group Inc. increased its position in shares of Eaton Co. plc (NYSE:ETN) by 13.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,559 shares of the industrial products company’s stock after purchasing an additional 532 shares during the period. Atomi Financial Group Inc.’s holdings in Eaton were worth $1,513,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Seven Eight Capital LP acquired a new stake in shares of Eaton in the 2nd quarter valued at approximately $270,000. Thrivent Financial for Lutherans raised its position in Eaton by 110.2% in the second quarter. Thrivent Financial for Lutherans now owns 57,820 shares of the industrial products company’s stock worth $18,129,000 after acquiring an additional 30,319 shares in the last quarter. ProShare Advisors LLC lifted its holdings in Eaton by 10.9% in the second quarter. ProShare Advisors LLC now owns 60,658 shares of the industrial products company’s stock valued at $19,019,000 after acquiring an additional 5,970 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Eaton by 44.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,777 shares of the industrial products company’s stock worth $542,000 after purchasing an additional 547 shares in the last quarter. Finally, Certified Advisory Corp increased its holdings in shares of Eaton by 25.0% in the 2nd quarter. Certified Advisory Corp now owns 1,060 shares of the industrial products company’s stock valued at $332,000 after purchasing an additional 212 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on ETN shares. JPMorgan Chase & Co. decreased their price objective on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Royal Bank of Canada upped their price target on Eaton from $374.00 to $392.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Jefferies Financial Group lifted their price objective on Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Citigroup lowered their target price on Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Finally, Mizuho lifted their price target on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Eaton presently has an average rating of “Moderate Buy” and an average price target of $368.89.

Insider Activity at Eaton

In related news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the firm’s stock in a transaction that occurred on 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 owns 31,200 shares in the company, valued at approximately $11,811,696. This trade represents a 4.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Gregory R. Page sold 10,000 shares of Eaton 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 owns 43,203 shares in the company, valued at $15,379,403.94. The trade was a 18.80 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 76,981 shares of company stock worth $27,660,117. 0.33% of the stock is owned by company insiders.

Eaton Stock Up 3.2 %

ETN stock opened at $357.45 on Wednesday. Eaton Co. plc has a one year low of $239.17 and a one year high of $379.99. The stock has a market capitalization of $141.27 billion, a P/E ratio of 38.03, a PEG ratio of 2.40 and a beta of 1.06. The company has a 50 day moving average price of $353.82 and a two-hundred day moving average price of $330.17. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53.

Eaton (NYSE:ETN) last released its earnings results on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, beating the consensus estimate of $2.80 by $0.04. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The firm had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.37 billion. During the same period in the prior year, the firm posted $2.47 earnings per share. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. As a group, sell-side analysts expect that Eaton Co. plc will post 10.79 EPS for the current year.

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.