Eaton Co. plc (NYSE:ETN) Shares Sold by Plimoth Trust Co. LLC

Plimoth Trust Co. LLC lowered its position in shares of Eaton Co. plc (NYSE:ETN) by 3.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,508 shares of the industrial products company’s stock after selling 417 shares during the period. Plimoth Trust Co. LLC’s holdings in Eaton were worth $3,819,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of ETN. Wetzel Investment Advisors Inc. raised its holdings in shares of Eaton by 0.9% in the fourth quarter. Wetzel Investment Advisors Inc. now owns 3,101 shares of the industrial products company’s stock valued at $1,029,000 after buying an additional 28 shares during the last quarter. Strategic Wealth Partners Ltd. grew its position in Eaton by 3.0% during the third quarter. Strategic Wealth Partners Ltd. now owns 1,027 shares of the industrial products company’s stock worth $340,000 after buying an additional 30 shares during the period. Fairfield Financial Advisors LTD grew its position in shares of Eaton by 16.2% in the third quarter. Fairfield Financial Advisors LTD now owns 215 shares of the industrial products company’s stock valued at $71,000 after purchasing an additional 30 shares during the last quarter. Westmount Partners LLC grew its position in shares of Eaton by 3.1% in the fourth quarter. Westmount Partners LLC now owns 985 shares of the industrial products company’s stock valued at $327,000 after purchasing an additional 30 shares during the last quarter. Finally, Signal Advisors Wealth LLC lifted its stake in shares of Eaton by 3.5% during the fourth quarter. Signal Advisors Wealth LLC now owns 896 shares of the industrial products company’s stock valued at $297,000 after buying an additional 30 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Melius downgraded shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 price objective on the stock. in a research note on Tuesday. Citigroup cut their price target on shares of Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Wells Fargo & Company cut their price target 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. UBS Group began coverage on shares of Eaton in a research note on Wednesday, November 13th. They set a “buy” rating and a $431.00 price target on the stock. Finally, Jefferies Financial Group raised their target price 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 analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $369.30.

Insiders Place Their Bets

In related news, 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 sale, the insider now directly owns 31,200 shares in the company, valued at $11,811,696. This trade represents a 4.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Gregory R. Page sold 4,000 shares of Eaton 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 in the company, valued at approximately $17,241,796.60. This represents a 7.22 % decrease in their ownership of the stock. 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 in the last ninety days. Corporate insiders own 0.53% of the company’s stock.

Eaton Stock Up 1.1 %

ETN traded up $3.49 during trading hours on Wednesday, reaching $316.16. 854,219 shares of the stock traded hands, compared to its average volume of 3,211,535. The company has a market cap of $124.94 billion, a price-to-earnings ratio of 33.65, a PEG ratio of 2.57 and a beta of 1.06. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00. Eaton Co. plc has a fifty-two week low of $245.65 and a fifty-two week high of $379.99. The firm’s fifty day simple moving average is $351.98 and its two-hundred day simple moving average is $331.21.

Eaton (NYSE:ETN) last announced its quarterly earnings data 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. The company had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period last year, the business earned $2.47 EPS. As a group, analysts forecast that Eaton Co. plc will post 10.79 earnings per share 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.