Eaton Co. plc (NYSE:ETN) Shares Sold by Asset Dedication LLC

Asset Dedication LLC trimmed its holdings in Eaton Co. plc (NYSE:ETN) by 14.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,310 shares of the industrial products company’s stock after selling 900 shares during the quarter. Asset Dedication LLC’s holdings in Eaton were worth $1,762,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. R Squared Ltd purchased a new position in Eaton in the 4th quarter valued at $1,019,000. Gateway Wealth Partners LLC boosted its position in shares of Eaton by 30.2% in the 4th quarter. Gateway Wealth Partners LLC now owns 1,083 shares of the industrial products company’s stock worth $359,000 after buying an additional 251 shares in the last quarter. SteelPeak Wealth LLC boosted its position in shares of Eaton by 48.2% in the 4th quarter. SteelPeak Wealth LLC now owns 5,503 shares of the industrial products company’s stock worth $1,826,000 after buying an additional 1,789 shares in the last quarter. Mayflower Financial Advisors LLC raised its stake in Eaton by 1.6% in the 4th quarter. Mayflower Financial Advisors LLC now owns 3,167 shares of the industrial products company’s stock valued at $1,051,000 after purchasing an additional 49 shares during the last quarter. Finally, Patriot Financial Group Insurance Agency LLC raised its stake in Eaton by 147.2% in the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 3,523 shares of the industrial products company’s stock valued at $1,169,000 after purchasing an additional 2,098 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ETN has been the subject of several analyst reports. Sanford C. Bernstein assumed coverage on shares of Eaton in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 target price for the company. Citigroup decreased their target price on Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a report on Monday, January 13th. Mizuho boosted their target price on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Jefferies Financial Group boosted their target price on Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Finally, Melius cut Eaton from a “buy” rating to a “hold” rating and set a $373.00 price target for the company. in a report on Tuesday. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $369.30.

Eaton Stock Performance

ETN stock opened at $312.26 on Wednesday. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. The firm has a market cap of $123.41 billion, a P/E ratio of 33.22, a P/E/G ratio of 2.57 and a beta of 1.06. Eaton Co. plc has a 12-month low of $244.35 and a 12-month high of $379.99. The stock’s 50 day simple moving average is $351.98 and its 200 day simple moving average is $331.21.

Eaton (NYSE:ETN) last issued its earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share 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 firm had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.37 billion. During the same period last year, the company earned $2.47 earnings per share. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. As a group, equities research analysts predict that Eaton Co. plc will post 10.79 EPS for the current year.

Insider Activity

In related news, Director Gregory R. Page sold 4,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the completion of the transaction, the director now owns 51,422 shares of the company’s stock, valued at $17,241,796.60. This trade represents a 7.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $378.58, for a total value of $534,554.96. Following the completion of the transaction, the insider now owns 31,200 shares of the company’s stock, valued at $11,811,696. This trade represents a 4.33 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 76,981 shares of company stock valued at $27,660,117. Company insiders own 0.53% of the company’s stock.

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.