Red Door Wealth Management LLC Has $540,000 Stock Position in Eaton Co. plc (NYSE:ETN)

Red Door Wealth Management LLC lifted its stake in Eaton Co. plc (NYSE:ETN) by 2.9% during the 4th quarter, HoldingsChannel reports. The fund owned 1,627 shares of the industrial products company’s stock after buying an additional 46 shares during the period. Red Door Wealth Management LLC’s holdings in Eaton were worth $540,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of ETN. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Eaton in the second quarter valued at $338,000. AQR Capital Management LLC boosted its position in shares of Eaton by 63.6% during the 2nd quarter. AQR Capital Management LLC now owns 509,906 shares of the industrial products company’s stock valued at $159,881,000 after acquiring an additional 198,180 shares in the last quarter. APG Asset Management N.V. increased its stake in Eaton by 33.7% in the second quarter. APG Asset Management N.V. now owns 199,553 shares of the industrial products company’s stock valued at $58,381,000 after acquiring an additional 50,340 shares during the period. Electron Capital Partners LLC raised its holdings in shares of Eaton by 8,348.9% in the 2nd quarter. Electron Capital Partners LLC now owns 446,524 shares of the industrial products company’s stock worth $140,008,000 after buying an additional 441,239 shares in the last quarter. Finally, DE Burlo Group Inc. raised its stake in Eaton by 74.6% during the second quarter. DE Burlo Group Inc. now owns 62,740 shares of the industrial products company’s stock worth $19,672,000 after acquiring an additional 26,800 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Craig Arnold sold 61,569 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was 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 in the company, valued at $182,780,769.20. The trade was a 10.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $378.58, for a total value of $534,554.96. Following the transaction, the insider now owns 31,200 shares in the company, valued at $11,811,696. The trade was a 4.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 76,981 shares of company stock valued at $27,660,117 over the last ninety days. 0.53% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ETN shares. Royal Bank of Canada upped their target price on shares of Eaton from $374.00 to $392.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Wells Fargo & Company dropped their price target on Eaton from $365.00 to $350.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Jefferies Financial Group raised their target price on Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Barclays increased their price objective on shares of Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Eaton currently has a consensus rating of “Moderate Buy” and an average target price of $368.89.

Eaton Stock Performance

Shares of ETN stock opened at $369.58 on Friday. Eaton Co. plc has a one year low of $241.45 and a one year high of $379.99. The stock has a market cap of $146.06 billion, a P/E ratio of 39.32, a P/E/G ratio of 2.48 and a beta of 1.06. The company has a fifty day moving average price of $353.61 and a two-hundred day moving average price of $330.74. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00.

Eaton (NYSE:ETN) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.80 by $0.04. The company had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The business’s revenue was up 7.9% on a year-over-year basis. During the same period last year, the firm posted $2.47 earnings per share. As a group, equities analysts predict that Eaton Co. plc will post 10.79 EPS for the current year.

About Eaton

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.