Eaton Co., PLC (ETN) Shares Bought by Johnson Financial Group Inc.
Johnson Financial Group Inc. boosted its position in Eaton Co., PLC (NYSE:ETN) by 6.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 12,372 shares of the industrial products company’s stock after acquiring an additional 730 shares during the quarter. Johnson Financial Group Inc.’s holdings in Eaton were worth $978,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently bought and sold shares of the company. Cable Hill Partners LLC grew its stake in Eaton by 174.8% in the 3rd quarter. Cable Hill Partners LLC now owns 1,363 shares of the industrial products company’s stock valued at $105,000 after buying an additional 867 shares during the last quarter. Independence Bank of Kentucky bought a new stake in Eaton in the 4th quarter valued at $118,000. Fieldpoint Private Securities LLC bought a new stake in Eaton in the 3rd quarter valued at $130,000. Murphy Capital Management Inc. bought a new stake in Eaton in the 4th quarter valued at $201,000. Finally, Montag A & Associates Inc. bought a new stake in Eaton in the 4th quarter valued at $201,000. Institutional investors and hedge funds own 74.74% of the company’s stock.
A number of analysts have weighed in on the stock. Stifel Nicolaus reissued a “hold” rating and issued a $80.00 price target on shares of Eaton in a report on Monday, December 11th. ValuEngine raised shares of 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 target on shares of Eaton in a report on Friday, February 2nd. Barclays assumed coverage on shares of Eaton in a report on Thursday, February 15th. They issued an “equal weight” rating and a $90.00 price target for the company. Finally, Zacks Investment Research raised shares of Eaton from a “sell” rating to a “hold” rating in a report on Monday, February 5th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company’s stock. Eaton currently has an average rating of “Hold” and an average price target of $87.57.
Eaton (NYSE:ETN) last announced its earnings results on Thursday, February 1st. The industrial products company reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.04. The business had revenue of $5.21 billion during the quarter, compared to analysts’ expectations of $5.10 billion. Eaton had a net margin of 14.60% and a return on equity of 12.84%. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter last year, the company posted $1.12 EPS. research analysts anticipate that Eaton Co., PLC will post 5.14 earnings per share for the current fiscal year.
In related news, insider Nandakumar Cheruvatath sold 10,000 shares of the stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $77.50, for a total transaction of $775,000.00. Following the completion of the sale, the insider now owns 16,571 shares in the company, valued at approximately $1,284,252.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Curtis J. Hutchins sold 14,360 shares of the stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $78.36, for a total transaction of $1,125,249.60. Following the sale, the insider now 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. Insiders have sold a total of 40,029 shares of company stock valued at $3,195,143 in the last quarter. 0.80% of the stock is currently owned by corporate insiders.
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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