Eaton Co. plc (NYSE:ETN) Shares Sold by Phoenix Wealth Advisors

Phoenix Wealth Advisors trimmed its position in Eaton Co. plc (NYSE:ETN) by 2.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,828 shares of the industrial products company’s stock after selling 293 shares during the quarter. Eaton comprises 1.8% of Phoenix Wealth Advisors’ holdings, making the stock its 11th largest position. Phoenix Wealth Advisors’ holdings in Eaton were worth $4,257,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Groupama Asset Managment boosted 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 during the last quarter. Horizon Bancorp Inc. IN lifted its holdings in Eaton by 321.7% in the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 74 shares during the period. Morse Asset Management Inc purchased a new stake in Eaton in the 3rd quarter worth approximately $33,000. West Financial Advisors LLC acquired a new stake in shares of Eaton during the 3rd quarter worth approximately $35,000. Finally, DT Investment Partners LLC purchased a new position in shares of Eaton during the 3rd quarter valued at approximately $37,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insiders Place Their Bets

In related news, Director Gregory R. Page sold 4,000 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $335.30, for a total value of $1,341,200.00. Following the sale, the director now directly owns 51,422 shares in the company, valued at approximately $17,241,796.60. The trade was a 7.22 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $378.58, for a total transaction of $534,554.96. Following the transaction, the insider now directly owns 31,200 shares of the company’s stock, valued at approximately $11,811,696. This trade represents a 4.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 76,981 shares of company stock valued at $27,660,117 over the last ninety days. Company insiders own 0.33% of the company’s stock.

Eaton Trading Up 3.2 %

ETN opened at $357.45 on Wednesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00. The company’s 50 day simple moving average is $353.58 and its two-hundred day simple moving average is $330.45. The firm has a market capitalization of $141.27 billion, a price-to-earnings ratio of 38.03, a price-to-earnings-growth 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.

Eaton (NYSE:ETN) last released its quarterly earnings data 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. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The company had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.37 billion. During the same quarter in the previous year, the company posted $2.47 earnings per share. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. Analysts expect that Eaton Co. plc will post 10.79 EPS for the current fiscal year.

Analyst Ratings Changes

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

Eaton 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.