Vaughan David Investments LLC IL Sells 10,430 Shares of Eaton Co. plc (NYSE:ETN)

Vaughan David Investments LLC IL lessened its stake in Eaton Co. plc (NYSE:ETN) by 5.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 190,408 shares of the industrial products company’s stock after selling 10,430 shares during the period. Eaton comprises about 1.5% of Vaughan David Investments LLC IL’s portfolio, making the stock its 9th biggest position. Vaughan David Investments LLC IL’s holdings in Eaton were worth $63,191,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. FourThought Financial Partners LLC bought a new position in Eaton during the 4th quarter worth approximately $395,000. Brown Financial Advisors increased its position in shares of Eaton by 7.8% during the fourth quarter. Brown Financial Advisors now owns 3,255 shares of the industrial products company’s stock worth $1,080,000 after buying an additional 235 shares during the period. Transcendent Capital Group LLC acquired a new stake in shares of Eaton during the fourth quarter worth $58,000. Trifecta Capital Advisors LLC increased its position in shares of Eaton by 3.5% during the fourth quarter. Trifecta Capital Advisors LLC now owns 16,319 shares of the industrial products company’s stock worth $5,416,000 after buying an additional 545 shares during the period. Finally, Mengis Capital Management Inc. increased its position in shares of Eaton by 5.5% during the fourth quarter. Mengis Capital Management Inc. now owns 2,772 shares of the industrial products company’s stock worth $920,000 after buying an additional 145 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ETN. Royal Bank of Canada reiterated an “outperform” rating on shares of Eaton in a research report on Thursday, February 13th. Mizuho increased their price objective on shares of Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. UBS Group began coverage on shares of Eaton in a research report on Wednesday, November 13th. They set a “buy” rating and a $431.00 price objective for the company. Bank of America increased their price objective on shares of Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, Sanford C. Bernstein initiated coverage on shares of Eaton in a research note on Tuesday, November 5th. They set an “outperform” rating and a $382.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $366.05.

Eaton Stock Down 2.6 %

Eaton stock opened at $289.68 on Tuesday. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. The firm’s fifty day moving average price is $330.66 and its two-hundred day moving average price is $332.83. Eaton Co. plc has a 1-year low of $255.65 and a 1-year high of $379.99. The firm has a market capitalization of $114.48 billion, a price-to-earnings ratio of 30.49, a price-to-earnings-growth ratio of 2.64 and a beta of 1.05.

Eaton (NYSE:ETN) last released its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, beating 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 last year, the company earned $2.55 EPS. On average, equities research analysts predict that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Insider Activity at Eaton

In related news, Director Gregory R. Page sold 10,000 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the transaction, the director now directly owns 43,203 shares of the company’s stock, valued at $15,379,403.94. This trade represents a 18.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.53% of the stock is owned by insiders.

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.