Apollon Wealth Management LLC Purchases 657 Shares of Eaton Co. plc (NYSE:ETN)

Apollon Wealth Management LLC lifted its position in Eaton Co. plc (NYSE:ETN) by 4.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,243 shares of the industrial products company’s stock after acquiring an additional 657 shares during the quarter. Apollon Wealth Management LLC’s holdings in Eaton were worth $5,722,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Groupama Asset Managment grew its stake in Eaton by 83.2% in 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 last quarter. Horizon Bancorp Inc. IN boosted its stake in Eaton by 321.7% in the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 74 shares in the last quarter. Morse Asset Management Inc purchased a new position in Eaton in the third quarter worth $33,000. DT Investment Partners LLC purchased a new stake in shares of Eaton during the 3rd quarter valued at $37,000. Finally, Hager Investment Management Services LLC acquired a new stake in shares of Eaton in the 4th quarter worth $38,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Eaton Trading Down 0.9 %

Shares of Eaton stock opened at $313.11 on Friday. Eaton Co. plc has a fifty-two week low of $255.65 and a fifty-two week high of $379.99. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. The company has a market cap of $123.74 billion, a P/E ratio of 32.96, a price-to-earnings-growth ratio of 2.37 and a beta of 1.05. The firm has a 50-day simple moving average of $343.25 and a two-hundred day simple moving average of $331.01.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (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 quarter in the prior year, the company earned $2.55 EPS. As a group, equities analysts predict that Eaton Co. plc will post 12.04 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ETN has been the subject of a number of research analyst reports. Evercore ISI cut Eaton from an “outperform” rating to an “inline” rating and increased their price target for the company from $333.00 to $389.00 in a research note on Wednesday, November 13th. Barclays lifted their target price on shares of Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Sanford C. Bernstein initiated coverage on shares of Eaton in a report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price target for the company. UBS Group started coverage on Eaton in a research report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 target price on the stock. Finally, Wells Fargo & Company lowered their price target on Eaton from $350.00 to $335.00 and set an “equal weight” rating for the company in a research report on Monday, February 3rd. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $369.20.

Insider Buying and Selling

In other news, 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 completion of the sale, the insider now owns 31,200 shares of the company’s stock, valued at $11,811,696. The trade was a 4.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gregory R. Page sold 10,000 shares of Eaton stock in a transaction dated 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 owns 43,203 shares in the company, valued at approximately $15,379,403.94. The trade was a 18.80 % 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.

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.