Clarendon Private LLC Acquires Shares of 1,755 Eaton Co. plc (NYSE:ETN)

Clarendon Private LLC bought a new stake in Eaton Co. plc (NYSE:ETN) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,755 shares of the industrial products company’s stock, valued at approximately $582,000.

Several other large investors have also modified their holdings of ETN. Horizon Bancorp Inc. IN raised its position in Eaton by 321.7% during the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock worth $32,000 after buying an additional 74 shares during the last quarter. Morse Asset Management Inc acquired a new position in shares of Eaton during the third quarter worth about $33,000. West Financial Advisors LLC purchased a new position in Eaton during the third quarter worth about $35,000. DT Investment Partners LLC acquired a new stake in Eaton in the third quarter valued at about $37,000. Finally, RPg Family Wealth Advisory LLC purchased a new stake in Eaton in the 3rd quarter valued at approximately $44,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Price Performance

Eaton stock opened at $368.63 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $145.68 billion, a P/E ratio of 39.22, a PEG ratio of 2.57 and a beta of 1.06. The firm has a fifty day moving average of $353.96 and a 200-day moving average of $331.35. Eaton Co. plc has a 52-week low of $241.87 and a 52-week high of $379.99.

Eaton (NYSE:ETN) last issued 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 company had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The company’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.47 earnings per share. As a group, analysts predict that Eaton Co. plc will post 10.79 EPS for the current year.

Wall Street Analyst Weigh In

ETN has been the subject of several recent analyst reports. Evercore ISI cut Eaton from an “outperform” rating to an “inline” rating and raised their price target for the company from $333.00 to $389.00 in a report on Wednesday, November 13th. Citigroup reduced their target price on Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a report on Monday, January 13th. Royal Bank of Canada increased their price target on shares of Eaton from $374.00 to $392.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. 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. Finally, 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. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Eaton has an average rating of “Moderate Buy” and a consensus price target of $368.89.

Insider Activity

In other Eaton news, Director Gregory R. Page sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the completion of the sale, the director now owns 51,422 shares in the company, valued at $17,241,796.60. This trade represents a 7.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Craig Arnold sold 61,569 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total value of $22,224,561.93. Following the completion of the transaction, the insider now directly owns 506,360 shares in the company, valued at approximately $182,780,769.20. The trade was a 10.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 76,981 shares of company stock worth $27,660,117 over the last 90 days. Company insiders own 0.53% 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.