Eaton Co. plc (NYSE:ETN) Shares Sold by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. lowered its stake in shares of Eaton Co. plc (NYSE:ETN) by 6.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,129 shares of the industrial products company’s stock after selling 1,060 shares during the period. Crossmark Global Holdings Inc.’s holdings in Eaton were worth $5,021,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Horizon Bancorp Inc. IN grew its holdings in shares of Eaton by 321.7% during the fourth 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 in the last quarter. Morse Asset Management Inc acquired a new stake in Eaton during the third quarter worth approximately $33,000. West Financial Advisors LLC purchased a new stake in Eaton in the 3rd quarter worth approximately $35,000. DT Investment Partners LLC purchased a new position in shares of Eaton during the 3rd quarter worth $37,000. Finally, RPg Family Wealth Advisory LLC purchased a new position in Eaton during the third quarter worth about $44,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ETN. Jefferies Financial Group increased their price objective on shares of Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a report on Friday, December 6th. JPMorgan Chase & Co. decreased their price target on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Wells Fargo & Company dropped their price objective on Eaton from $365.00 to $350.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Royal Bank of Canada boosted their price target on Eaton from $374.00 to $392.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Finally, UBS Group started coverage on Eaton in a report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $368.89.

Insider Activity at Eaton

In related news, Director Gregory R. Page sold 4,000 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the completion of the sale, the director now owns 51,422 shares of the company’s stock, valued at $17,241,796.60. This represents a 7.22 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 31,200 shares in the company, valued at $11,811,696. This represents 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 three months. 0.33% of the stock is owned by insiders.

Eaton Stock Performance

Shares of ETN opened at $357.45 on Wednesday. The firm has a market cap of $141.27 billion, a price-to-earnings ratio of 38.03, a PEG ratio of 2.40 and a beta of 1.06. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. The business’s 50 day moving average is $353.82 and its two-hundred day moving average is $330.17. Eaton Co. plc has a 52-week low of $239.17 and a 52-week high of $379.99.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.80 by $0.04. The firm had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The firm’s revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.47 EPS. Analysts forecast 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.