Eaton Co. plc (NYSE:ETN) Stock Holdings Lowered by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. cut its position in Eaton Co. plc (NYSE:ETN) by 6.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 15,129 shares of the industrial products company’s stock after selling 1,060 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Eaton were worth $5,021,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ETN. Groupama Asset Managment boosted its position in shares of Eaton by 83.2% during 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 during the period. Horizon Bancorp Inc. IN boosted its position in 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 acquiring an additional 74 shares during the period. Morse Asset Management Inc bought a new position in shares of Eaton in the third quarter worth $33,000. West Financial Advisors LLC acquired a new position in shares of Eaton during the third quarter valued at $35,000. Finally, DT Investment Partners LLC bought a new stake in shares of Eaton during the third quarter valued at about $37,000. Institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling at Eaton

In other Eaton news, insider Craig Arnold sold 61,569 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the completion of the sale, the insider now directly owns 506,360 shares in the company, valued at $182,780,769.20. This represents a 10.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gregory R. Page sold 4,000 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $335.30, for a total value of $1,341,200.00. Following the transaction, the director now directly owns 51,422 shares of the company’s stock, valued at $17,241,796.60. This represents a 7.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 76,981 shares of company stock worth $27,660,117 over the last 90 days. Insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

ETN has been the topic of several research analyst reports. Mizuho raised their target price on shares of Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Royal Bank of Canada raised their price objective on shares of Eaton from $374.00 to $392.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Sanford C. Bernstein assumed coverage on Eaton in a research report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 target price for the company. Jefferies Financial Group lifted their price target on Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Finally, Evercore ISI cut Eaton from an “outperform” rating to an “inline” rating and raised their target price for the company from $333.00 to $389.00 in a research note on Wednesday, November 13th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $368.89.

Eaton Stock Up 3.2 %

ETN stock opened at $357.45 on Wednesday. The firm has a market cap of $141.27 billion, a PE ratio of 38.03, a PEG ratio of 2.40 and a beta of 1.06. Eaton Co. plc has a 1 year low of $239.17 and a 1 year high of $379.99. The company has a fifty day simple moving average of $353.82 and a 200 day simple moving average of $330.17. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45.

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, topping analysts’ consensus estimates of $2.80 by $0.04. The company had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.47 earnings per share. Sell-side analysts anticipate that Eaton Co. plc will post 10.79 EPS 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.