Chesley Taft & Associates LLC Purchases 270 Shares of Eaton Co. plc (NYSE:ETN)

Chesley Taft & Associates LLC increased its stake in Eaton Co. plc (NYSE:ETN) by 2.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 9,833 shares of the industrial products company’s stock after purchasing an additional 270 shares during the quarter. Chesley Taft & Associates LLC’s holdings in Eaton were worth $3,263,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in the stock. Strategic Wealth Partners Ltd. lifted its stake in shares of Eaton by 3.0% during the 3rd quarter. Strategic Wealth Partners Ltd. now owns 1,027 shares of the industrial products company’s stock worth $340,000 after purchasing an additional 30 shares during the last quarter. Fairfield Financial Advisors LTD raised its holdings in shares of Eaton by 16.2% in the third quarter. Fairfield Financial Advisors LTD now owns 215 shares of the industrial products company’s stock worth $71,000 after buying an additional 30 shares during the last quarter. Westmount Partners LLC grew its holdings in shares of Eaton by 3.1% during the fourth quarter. Westmount Partners LLC now owns 985 shares of the industrial products company’s stock valued at $327,000 after buying an additional 30 shares during the last quarter. Signal Advisors Wealth LLC lifted its position in Eaton by 3.5% during the 4th quarter. Signal Advisors Wealth LLC now owns 896 shares of the industrial products company’s stock worth $297,000 after acquiring an additional 30 shares during the period. Finally, Venturi Wealth Management LLC grew its stake in Eaton by 2.1% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,549 shares of the industrial products company’s stock valued at $513,000 after purchasing an additional 32 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Eaton Trading Up 0.4 %

NYSE ETN opened at $346.54 on Tuesday. The firm has a market cap of $136.95 billion, a price-to-earnings ratio of 36.87, a PEG ratio of 2.40 and a beta of 1.06. Eaton Co. plc has a one year low of $236.20 and a one year high of $379.99. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53. The firm has a 50 day simple moving average of $353.82 and a 200-day simple moving average of $330.17.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The business had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.37 billion. During the same quarter in the prior year, the company earned $2.47 earnings per share. The company’s revenue was up 7.9% on a year-over-year basis. Equities research analysts anticipate that Eaton Co. plc will post 10.79 EPS for the current fiscal year.

Insider Activity

In related news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the stock in a transaction 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 directly owns 31,200 shares of the company’s stock, valued at $11,811,696. This trade represents a 4.33 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Craig Arnold sold 61,569 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 506,360 shares of the company’s stock, valued at $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. In the last three months, insiders have sold 76,981 shares of company stock worth $27,660,117. 0.33% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

Eaton 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.