Cetera Advisors LLC grew its position in Eaton Co., PLC (NYSE:ETN) by 90.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,659 shares of the industrial products company’s stock after acquiring an additional 2,680 shares during the quarter. Cetera Advisors LLC’s holdings in Eaton were worth $449,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Cable Hill Partners LLC boosted its holdings in shares of Eaton by 174.8% in the third quarter. Cable Hill Partners LLC now owns 1,363 shares of the industrial products company’s stock valued at $105,000 after acquiring an additional 867 shares during the period. Fieldpoint Private Securities LLC acquired a new stake in shares of Eaton in the third quarter valued at approximately $130,000. Murphy Capital Management Inc. acquired a new stake in shares of Eaton in the fourth quarter valued at approximately $201,000. Wellington Shields Capital Management LLC acquired a new stake in shares of Eaton in the fourth quarter valued at approximately $206,000. Finally, Calton & Associates Inc. acquired a new stake in shares of Eaton in the fourth quarter valued at approximately $236,000. 76.45% of the stock is owned by institutional investors and hedge funds.
In other Eaton news, insider Ken D. Semelsberger sold 15,595 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $82.67, for a total value of $1,289,238.65. Following the completion of the sale, the insider now owns 104,613 shares of the company’s stock, valued at $8,648,356.71. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Curtis J. Hutchins sold 14,360 shares of the firm’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $78.36, for a total value of $1,125,249.60. Following the completion of the sale, the insider now directly owns 26,596 shares of the company’s stock, valued at approximately $2,084,062.56. The disclosure for this sale can be found here. In the last three months, insiders sold 44,340 shares of company stock valued at $3,522,908. 0.80% of the stock is owned by corporate insiders.
Eaton (NYSE:ETN) last released its earnings results on Thursday, February 1st. The industrial products company reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.04. Eaton had a return on equity of 12.84% and a net margin of 14.60%. The company had revenue of $5.21 billion during the quarter, compared to the consensus estimate of $5.10 billion. During the same quarter last year, the company earned $1.12 earnings per share. Eaton’s quarterly revenue was up 7.1% compared to the same quarter last year. equities research analysts expect that Eaton Co., PLC will post 5.14 EPS for the current year.
Several research firms have recently weighed in on ETN. ValuEngine raised Eaton from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Jefferies Group reissued a “hold” rating and issued a $90.00 price objective on shares of Eaton in a report on Friday, February 2nd. Stifel Nicolaus raised Eaton from a “hold” rating to a “buy” rating and increased their price target for the stock from $77.00 to $99.00 in a report on Sunday, February 4th. Zacks Investment Research raised Eaton from a “sell” rating to a “hold” rating in a report on Monday, February 5th. Finally, UBS Group began coverage on Eaton in a report on Tuesday, January 23rd. They set a “neutral” rating and a $87.00 price target for the company. Three analysts have rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $87.57.
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Eaton Company Profile
Eaton Corporation (Eaton) is a diversified power management company. It is engaged in the manufacturing of electrical components and systems for power quality, distribution and control; hydraulics components, systems and services for industrial and mobile equipment; aerospace fuel, hydraulics and pneumatic systems for commercial and military use, and truck and automotive drivetrain and powertrain systems for performance, fuel economy and safety.
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