9,778 Shares in Eaton Co. plc (NYSE:ETN) Acquired by Gamco Investors INC. ET AL

Gamco Investors INC. ET AL acquired a new stake in shares of Eaton Co. plc (NYSE:ETNFree Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 9,778 shares of the industrial products company’s stock, valued at approximately $2,085,000.

Other large investors have also recently made changes to their positions in the company. 1832 Asset Management L.P. lifted its holdings in shares of Eaton by 25.0% in the 2nd quarter. 1832 Asset Management L.P. now owns 604,662 shares of the industrial products company’s stock valued at $121,598,000 after acquiring an additional 120,746 shares during the last quarter. LMG Wealth Partners LLC lifted its stake in shares of Eaton by 3.4% in the 2nd quarter. LMG Wealth Partners LLC now owns 9,080 shares of the industrial products company’s stock valued at $1,826,000 after purchasing an additional 300 shares during the last quarter. BCS Wealth Management purchased a new position in shares of Eaton in the 3rd quarter worth approximately $216,000. Sandler Capital Management boosted its stake in Eaton by 102.2% during the second quarter. Sandler Capital Management now owns 95,768 shares of the industrial products company’s stock worth $19,259,000 after buying an additional 48,410 shares during the period. Finally, Soltis Investment Advisors LLC raised its stake in shares of Eaton by 12.9% in the second quarter. Soltis Investment Advisors LLC now owns 1,721 shares of the industrial products company’s stock valued at $346,000 after acquiring an additional 197 shares during the period. 81.02% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Sternadt Paulo Ruiz sold 2,639 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $228.05, for a total transaction of $601,823.95. Following the completion of the transaction, the insider now owns 11,636 shares in the company, valued at approximately $2,653,589.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.53% of the company’s stock.

Eaton Stock Performance

Shares of ETN stock opened at $273.21 on Friday. The company’s 50 day moving average is $242.43 and its 200 day moving average is $225.78. The company has a quick ratio of 1.02, a current ratio of 1.51 and a debt-to-equity ratio of 0.43. The firm has a market cap of $109.09 billion, a price-to-earnings ratio of 34.07, a PEG ratio of 2.28 and a beta of 1.04. Eaton Co. plc has a 52-week low of $155.38 and a 52-week high of $274.70.

Eaton (NYSE:ETNGet Free Report) last announced its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.47 by $0.08. Eaton had a return on equity of 20.05% and a net margin of 13.88%. The business had revenue of $5.97 billion for the quarter, compared to the consensus estimate of $5.91 billion. During the same period last year, the business posted $2.06 EPS. The business’s revenue was up 10.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Eaton Co. plc will post 10.17 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently commented on ETN shares. Barclays upped their price target on shares of Eaton from $185.00 to $187.00 and gave the company an “underweight” rating in a report on Wednesday, November 1st. UBS Group raised their price target on Eaton from $255.00 to $305.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Wells Fargo & Company upped their price objective on Eaton from $220.00 to $257.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 19th. Royal Bank of Canada boosted their target price on shares of Eaton from $220.00 to $246.00 and gave the company a “sector perform” rating in a research note on Friday, February 2nd. Finally, Citigroup upped their price target on shares of Eaton from $270.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $237.92.

Check Out Our Latest Stock Report on Eaton

About Eaton

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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