Scharf Investments LLC Acquires 225 Shares of Eaton Co. plc (NYSE:ETN)

Scharf Investments LLC increased its holdings in shares of Eaton Co. plc (NYSE:ETN) by 7.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 3,327 shares of the industrial products company’s stock after acquiring an additional 225 shares during the period. Scharf Investments LLC’s holdings in Eaton were worth $1,104,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of ETN. Groupama Asset Managment boosted its stake in shares of Eaton by 83.2% during the third quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 4,298 shares during the period. Horizon Bancorp Inc. IN grew its stake in 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 acquiring an additional 74 shares in the last quarter. Morse Asset Management Inc purchased a new position in shares of Eaton during the third quarter worth approximately $33,000. West Financial Advisors LLC bought a new stake in shares of Eaton during the third quarter valued at approximately $35,000. Finally, DT Investment Partners LLC purchased a new stake in shares of Eaton in the third quarter valued at approximately $37,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Activity

In other Eaton news, Director Gregory R. Page sold 10,000 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $355.98, for a total value of $3,559,800.00. Following the completion of the sale, the director now directly owns 43,203 shares in the company, valued at $15,379,403.94. This represents a 18.80 % decrease in their position. The sale was disclosed in a 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 business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $378.58, for a total transaction of $534,554.96. Following the transaction, the insider now directly owns 31,200 shares in the company, valued at approximately $11,811,696. The trade was a 4.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 72,981 shares of company stock worth $26,318,917 over the last ninety days. Corporate insiders own 0.53% of the company’s stock.

Wall Street Analyst Weigh In

ETN has been the topic of several research reports. UBS Group initiated coverage on Eaton in a research note on Wednesday, November 13th. They set a “buy” rating and a $431.00 price target on the stock. Sanford C. Bernstein started coverage on Eaton in a research report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 target price on the stock. Citigroup decreased their price objective on Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Melius downgraded shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price for the company. in a report on Tuesday. Finally, Mizuho raised their price target on shares of Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Eaton has a consensus rating of “Moderate Buy” and a consensus target price of $369.30.

Eaton Price Performance

Shares of Eaton stock opened at $326.32 on Friday. The business has a 50 day simple moving average of $350.25 and a two-hundred day simple moving average of $331.09. Eaton Co. plc has a 12 month low of $245.65 and a 12 month high of $379.99. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00. The stock has a market capitalization of $128.96 billion, a P/E ratio of 34.72, a PEG ratio of 2.21 and a beta of 1.06.

Eaton (NYSE:ETN) last issued its earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, beating analysts’ consensus estimates of $2.82 by $0.01. Eaton had a net margin of 15.32% and a return on equity of 21.97%. During the same period in the previous year, the business earned $2.55 earnings per share. As a group, analysts predict that Eaton Co. plc will post 10.79 EPS for the current fiscal 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.