High Net Worth Advisory Group LLC Decreases Stock Holdings in Eaton Co. plc (NYSE:ETN)

High Net Worth Advisory Group LLC lessened its stake in Eaton Co. plc (NYSE:ETN) by 5.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,251 shares of the industrial products company’s stock after selling 125 shares during the quarter. High Net Worth Advisory Group LLC’s holdings in Eaton were worth $747,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Horizon Bancorp Inc. IN raised its position in shares of 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 purchasing an additional 74 shares during the last quarter. Morse Asset Management Inc purchased a new stake in Eaton during the 3rd quarter worth approximately $33,000. West Financial Advisors LLC acquired a new position in shares of Eaton during the third quarter valued at approximately $35,000. DT Investment Partners LLC acquired a new stake in shares of Eaton in the third quarter worth approximately $37,000. Finally, RPg Family Wealth Advisory LLC purchased a new stake in shares of Eaton during the third quarter worth approximately $44,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Eaton Stock Down 0.3 %

Shares of NYSE:ETN opened at $368.63 on Monday. The business has a 50-day moving average price of $353.96 and a 200 day moving average price of $331.44. Eaton Co. plc has a 12-month low of $241.87 and a 12-month high of $379.99. 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 company has a market capitalization of $145.68 billion, a price-to-earnings ratio of 39.22, a PEG ratio of 2.57 and a beta of 1.06.

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

Insiders Place Their Bets

In related news, Director Gregory R. Page sold 10,000 shares of the stock in a transaction dated Friday, December 13th. The stock was 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. This represents a 18.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of Eaton stock in a transaction dated 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 directly owns 31,200 shares of the company’s stock, valued at approximately $11,811,696. This represents a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 76,981 shares of company stock worth $27,660,117 over the last ninety days. Corporate insiders own 0.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Evercore ISI lowered Eaton from an “outperform” rating to an “inline” rating and raised their price objective for the company from $333.00 to $389.00 in a report on Wednesday, November 13th. Royal Bank of Canada boosted their price target on shares of Eaton from $374.00 to $392.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Sanford C. Bernstein started coverage on shares of Eaton in a report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price objective for the company. Citigroup lowered their target price on Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Finally, JPMorgan Chase & Co. cut their price target on Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $368.89.

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.