Lighthouse Wealth Management Inc. Buys Shares of 896 Eaton Co. plc (NYSE:ETN)

Lighthouse Wealth Management Inc. acquired a new stake in shares of Eaton Co. plc (NYSE:ETN) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 896 shares of the industrial products company’s stock, valued at approximately $297,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Mount Yale Investment Advisors LLC lifted its stake in Eaton by 1.6% in the fourth quarter. Mount Yale Investment Advisors LLC now owns 2,999 shares of the industrial products company’s stock valued at $995,000 after buying an additional 46 shares during the last quarter. Pacer Advisors Inc. lifted its position in Eaton by 7.1% in the 4th quarter. Pacer Advisors Inc. now owns 31,622 shares of the industrial products company’s stock valued at $10,494,000 after purchasing an additional 2,110 shares during the last quarter. Webster Bank N. A. boosted its stake 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 valued at $5,949,000 after purchasing an additional 6,166 shares during the period. KBC Group NV increased its stake in shares of Eaton by 16.2% in the fourth quarter. KBC Group NV now owns 66,296 shares of the industrial products company’s stock valued at $22,002,000 after purchasing an additional 9,252 shares during the period. Finally, Blue Trust Inc. raised its holdings in shares of Eaton by 13.2% during the fourth 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 during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Trading Down 0.3 %

Shares of NYSE ETN opened at $368.63 on Monday. The business has a fifty day simple moving average of $353.96 and a 200-day simple moving average of $331.47. The company has a market cap of $145.68 billion, a price-to-earnings ratio of 39.22, a P/E/G ratio of 2.57 and a beta of 1.06. Eaton Co. plc has a 12 month low of $241.87 and a 12 month high of $379.99. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45.

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

Insider Buying and Selling at Eaton

In other news, Director Gregory R. Page sold 4,000 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $335.30, for a total value of $1,341,200.00. Following the transaction, the director now owns 51,422 shares in the company, valued at $17,241,796.60. This represents a 7.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Craig Arnold sold 61,569 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now 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 have sold a total of 76,981 shares of company stock valued at $27,660,117 in the last three months. 0.53% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts recently commented on the company. Evercore ISI cut Eaton from an “outperform” rating to an “inline” rating and raised their target price for the company from $333.00 to $389.00 in a research report on Wednesday, November 13th. Royal Bank of Canada lifted their price objective on shares of Eaton from $374.00 to $392.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Bank of America increased their target price on shares of Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Mizuho boosted their price target on shares of Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, UBS Group assumed coverage on shares of Eaton in a report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Eaton has a consensus rating of “Moderate Buy” and an average price target of $368.89.

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.