First Affirmative Financial Network Sells 294 Shares of Eaton Co. plc (NYSE:ETN)

First Affirmative Financial Network lowered its holdings in shares of Eaton Co. plc (NYSE:ETN) by 20.7% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 1,129 shares of the industrial products company’s stock after selling 294 shares during the period. First Affirmative Financial Network’s holdings in Eaton were worth $375,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Ascent Group LLC raised its holdings in Eaton by 7.2% in the 2nd quarter. Ascent Group LLC now owns 792 shares of the industrial products company’s stock valued at $248,000 after acquiring an additional 53 shares during the period. Quarry LP bought a new position in shares of Eaton during the second quarter worth approximately $84,000. Dana Investment Advisors Inc. boosted its stake in Eaton by 1.4% in the 2nd quarter. Dana Investment Advisors Inc. now owns 23,461 shares of the industrial products company’s stock valued at $7,356,000 after purchasing an additional 334 shares during the period. Gordian Capital Singapore Pte Ltd acquired a new position in Eaton in the 2nd quarter valued at $182,000. Finally, Sanctuary Advisors LLC acquired a new stake in shares of Eaton during the second quarter worth $27,653,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Activity at Eaton

In related news, insider Ernest W. Marshall, Jr. sold 1,412 shares of Eaton stock in a transaction on Monday, November 25th. The stock was sold at an average price of $378.58, for a total transaction of $534,554.96. Following the sale, the insider now directly owns 31,200 shares in the company, valued at approximately $11,811,696. This trade represents a 4.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gregory R. Page sold 4,000 shares of the company’s stock in a transaction on 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 completion of the transaction, the director now owns 51,422 shares of the company’s stock, valued at $17,241,796.60. This trade represents a 7.22 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 76,981 shares of company stock valued at $27,660,117. 0.53% of the stock is owned by corporate insiders.

Eaton Price Performance

Shares of NYSE ETN opened at $317.90 on Thursday. Eaton Co. plc has a 1-year low of $245.65 and a 1-year high of $379.99. The firm has a market capitalization of $125.63 billion, a P/E ratio of 33.82, a P/E/G ratio of 2.57 and a beta of 1.06. The firm’s 50-day moving average price is $351.98 and its 200-day moving average price is $331.21. 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 issued its earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. The company had revenue of $6.35 billion for 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%. Eaton’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period last year, the business earned $2.47 EPS. Equities research analysts anticipate that Eaton Co. plc will post 10.79 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ETN shares. Bank of America raised their price target 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. Wells Fargo & Company lowered their target price on shares of Eaton from $365.00 to $350.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Sanford C. Bernstein started coverage on Eaton in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price target for the company. UBS Group began coverage on Eaton in a research note on Wednesday, November 13th. They set a “buy” rating and a $431.00 price objective on the stock. Finally, Royal Bank of Canada upped their target price on Eaton from $374.00 to $392.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Eaton presently has a consensus rating of “Moderate Buy” and a consensus price target of $369.30.

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.