Eaton Co. plc (NYSE:ETN) Shares Sold by Jackson Wealth Management LLC

Jackson Wealth Management LLC cut its position in Eaton Co. plc (NYSE:ETN) by 1.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,479 shares of the industrial products company’s stock after selling 302 shares during the period. Eaton accounts for 1.0% of Jackson Wealth Management LLC’s holdings, making the stock its 25th largest position. Jackson Wealth Management LLC’s holdings in Eaton were worth $9,119,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Groupama Asset Managment lifted its stake in shares of Eaton by 83.2% in the third quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock worth $31,000 after buying an additional 4,298 shares in the last quarter. Horizon Bancorp Inc. IN boosted its stake in 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 during the last quarter. Morse Asset Management Inc purchased a new stake in Eaton in the 3rd quarter valued at $33,000. West Financial Advisors LLC acquired a new stake in shares of Eaton in the 3rd quarter worth $35,000. Finally, DT Investment Partners LLC purchased a new position in shares of Eaton during the 3rd quarter worth $37,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on ETN shares. Wells Fargo & Company reduced their target price on shares of Eaton from $350.00 to $335.00 and set an “equal weight” rating on the stock in a research note on Monday. Bank of America upped their price objective on Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Citigroup cut their target price on Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a research note on Monday, January 13th. JPMorgan Chase & Co. decreased their price target on Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. Finally, Evercore ISI downgraded Eaton from an “outperform” rating to an “inline” rating and raised their price objective for the stock from $333.00 to $389.00 in a research report on Wednesday, November 13th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $369.20.

Insider Transactions at Eaton

In other Eaton news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the company’s 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 in the company, valued at $11,811,696. This represents a 4.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Gregory R. Page sold 10,000 shares of Eaton stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $355.98, for a total value of $3,559,800.00. Following the sale, the director now owns 43,203 shares in the company, valued at $15,379,403.94. This trade represents a 18.80 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

Eaton Stock Down 0.1 %

ETN stock opened at $315.21 on Wednesday. Eaton Co. plc has a fifty-two week low of $255.65 and a fifty-two week high of $379.99. The company’s 50 day moving average price is $348.01 and its 200 day moving average price is $331.26. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. The firm has a market capitalization of $124.57 billion, a price-to-earnings ratio of 33.18, a PEG ratio of 2.27 and a beta of 1.05.

Eaton (NYSE:ETN) last issued its earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, topping analysts’ consensus estimates of $2.82 by $0.01. Eaton had a net margin of 15.25% and a return on equity of 22.62%. During the same quarter in the prior year, the company earned $2.55 earnings per share. On average, equities research analysts anticipate that Eaton Co. plc will post 12 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.