Essex Financial Services Inc. Has $2.81 Million Stock Holdings in Eaton Co. plc (NYSE:ETN)

Essex Financial Services Inc. grew its position in Eaton Co. plc (NYSE:ETN) by 55.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 8,464 shares of the industrial products company’s stock after buying an additional 3,012 shares during the period. Essex Financial Services Inc.’s holdings in Eaton were worth $2,809,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in ETN. Groupama Asset Managment raised its position 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 worth $31,000 after purchasing an additional 4,298 shares during the period. Horizon Bancorp Inc. IN raised its holdings in Eaton by 321.7% during 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 period. Morse Asset Management Inc acquired a new position in shares of Eaton in the third quarter valued at approximately $33,000. Activest Wealth Management increased its position in shares of Eaton by 621.4% during the fourth quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 87 shares in the last quarter. Finally, DT Investment Partners LLC acquired a new stake in shares of Eaton during the third quarter worth $37,000. Institutional investors own 82.97% of the company’s stock.

Eaton Stock Performance

Shares of ETN stock opened at $319.97 on Tuesday. The company has a market capitalization of $126.45 billion, a price-to-earnings ratio of 33.68, a PEG ratio of 2.37 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 Co. plc has a 52 week low of $255.65 and a 52 week high of $379.99. The company has a 50-day simple moving average of $343.25 and a 200 day simple moving average of $331.29.

Eaton (NYSE:ETN) last posted its earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, beating the consensus estimate 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 prior year, the business earned $2.55 EPS. On average, sell-side analysts predict that Eaton Co. plc will post 12.04 earnings per share for the current year.

Insider Transactions at Eaton

In other news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the company’s stock in a transaction on Monday, November 25th. The stock was 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 directly owns 31,200 shares in the company, valued at approximately $11,811,696. This represents a 4.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Gregory R. Page sold 10,000 shares of the firm’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 transaction, the director now owns 43,203 shares in the company, valued at $15,379,403.94. The trade was a 18.80 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

ETN has been the topic of several recent research reports. Royal Bank of Canada dropped their price target on Eaton from $407.00 to $405.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd. Bank of America boosted their target price on Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. JPMorgan Chase & Co. decreased their price target on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. Evercore ISI cut shares of Eaton from an “outperform” rating to an “inline” rating and increased their target price for the stock from $333.00 to $389.00 in a report on Wednesday, November 13th. Finally, Jefferies Financial Group lifted their price target on shares of Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $369.20.

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.