Kingswood Wealth Advisors LLC Sells 5,627 Shares of Eaton Co. plc (NYSE:ETN)

Kingswood Wealth Advisors LLC trimmed its holdings in shares of Eaton Co. plc (NYSE:ETN) by 29.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,326 shares of the industrial products company’s stock after selling 5,627 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in Eaton were worth $4,423,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. PFG Investments LLC increased its holdings in Eaton by 0.5% in the fourth quarter. PFG Investments LLC now owns 7,366 shares of the industrial products company’s stock valued at $2,445,000 after purchasing an additional 37 shares during the period. Clarendon Private LLC bought a new stake in shares of Eaton in the 4th quarter valued at about $582,000. Affinity Wealth Management LLC raised its position in shares of Eaton by 5.0% during the fourth quarter. Affinity Wealth Management LLC now owns 13,600 shares of the industrial products company’s stock worth $4,513,000 after acquiring an additional 648 shares during the last quarter. Marshall Financial Group LLC lifted its stake in shares of Eaton by 1.2% in the fourth quarter. Marshall Financial Group LLC now owns 2,988 shares of the industrial products company’s stock worth $992,000 after acquiring an additional 36 shares during the period. Finally, Andina Capital Management LLC boosted its holdings in Eaton by 7.4% in the fourth quarter. Andina Capital Management LLC now owns 2,020 shares of the industrial products company’s stock valued at $670,000 after acquiring an additional 139 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Insider Activity at Eaton

In other news, insider Craig Arnold sold 61,569 shares of Eaton stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following 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 at this hyperlink. Also, Director Gregory R. Page sold 10,000 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the transaction, the director now owns 43,203 shares of the company’s stock, valued at approximately $15,379,403.94. The trade was a 18.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 76,981 shares of company stock valued at $27,660,117 over the last ninety days. Corporate insiders own 0.53% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on ETN. Wells Fargo & Company reduced their price objective on shares of Eaton from $365.00 to $350.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. Evercore ISI downgraded Eaton from an “outperform” rating to an “inline” rating and increased their price target for the stock from $333.00 to $389.00 in a report on Wednesday, November 13th. Mizuho boosted their price objective on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. lowered their target price on Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Finally, Jefferies Financial Group boosted their price target on Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $368.89.

Eaton Price Performance

ETN stock opened at $368.63 on Monday. The company has a market capitalization of $145.68 billion, a P/E ratio of 39.22, a price-to-earnings-growth ratio of 2.57 and a beta of 1.06. Eaton Co. plc has a 52-week low of $241.87 and a 52-week high of $379.99. The business has a 50-day simple moving average of $353.96 and a two-hundred day simple moving average of $331.44. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.80 by $0.04. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The business had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.37 billion. During the same quarter in the prior year, the company posted $2.47 earnings per share. Eaton’s revenue was up 7.9% compared to the same quarter last year. Research analysts expect that Eaton Co. plc will post 10.79 EPS for the current fiscal year.

Eaton Company Profile

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.