Callan Capital LLC Boosts Stock Position in Eaton Co. plc (NYSE:ETN)

Callan Capital LLC increased its stake in Eaton Co. plc (NYSE:ETN) by 26.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,552 shares of the industrial products company’s stock after buying an additional 329 shares during the period. Callan Capital LLC’s holdings in Eaton were worth $515,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Horizon Bancorp Inc. IN grew its stake in shares of Eaton by 321.7% in 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 purchased a new stake in shares of Eaton in the 3rd quarter worth approximately $33,000. Activest Wealth Management grew its stake in shares of Eaton by 621.4% in the 4th quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock worth $34,000 after buying an additional 87 shares during the last quarter. DT Investment Partners LLC purchased a new stake in shares of Eaton in the 3rd quarter worth approximately $37,000. Finally, Hager Investment Management Services LLC purchased a new stake in Eaton during the 4th quarter valued at $38,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Price Performance

Shares of Eaton stock opened at $297.11 on Friday. Eaton Co. plc has a one year low of $255.65 and a one year high of $379.99. The stock’s fifty day moving average is $331.97 and its 200 day moving average is $332.43. The stock has a market cap of $117.42 billion, a P/E ratio of 31.27, a P/E/G ratio of 2.64 and a beta of 1.05. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50.

Eaton (NYSE:ETN) last announced its earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, topping analysts’ consensus estimates of $2.82 by $0.01. Eaton had a return on equity of 22.62% and a net margin of 15.25%. During the same period in the previous year, the company posted $2.55 EPS. Sell-side analysts anticipate that Eaton Co. plc will post 12.02 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ETN. Wells Fargo & Company reiterated an “equal weight” rating on shares of Eaton in a research note on Thursday, February 13th. UBS Group began coverage on Eaton in a research note on Wednesday, November 13th. They set a “buy” rating and a $431.00 target price on the stock. Melius Research reiterated a “hold” rating and set a $373.00 target price on shares of Eaton in a research note on Tuesday, January 28th. JPMorgan Chase & Co. cut their target price on Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. Finally, Evercore ISI cut their target price on Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a research note on Wednesday. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $366.05.

Insider Buying and Selling

In other Eaton news, Director Gregory R. Page sold 10,000 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the sale, the director now directly owns 43,203 shares of the company’s stock, valued at $15,379,403.94. This trade represents a 18.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $378.58, for a total value of $534,554.96. Following the sale, the insider now directly owns 31,200 shares in the company, valued at approximately $11,811,696. This represents a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.53% of the stock is owned by insiders.

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.