Eaton Co. plc (NYSE:ETN) Stock Position Lowered by Alpha Omega Wealth Management LLC

Alpha Omega Wealth Management LLC lowered its position in shares of Eaton Co. plc (NYSE:ETN) by 1.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,321 shares of the industrial products company’s stock after selling 223 shares during the quarter. Eaton accounts for approximately 1.2% of Alpha Omega Wealth Management LLC’s investment portfolio, making the stock its 19th largest position. Alpha Omega Wealth Management LLC’s holdings in Eaton were worth $6,412,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of ETN. Wetzel Investment Advisors Inc. grew its stake in shares of Eaton by 0.9% in the 4th quarter. Wetzel Investment Advisors Inc. now owns 3,101 shares of the industrial products company’s stock worth $1,029,000 after purchasing an additional 28 shares during the last quarter. Strategic Wealth Partners Ltd. boosted its holdings in Eaton by 3.0% during the third quarter. Strategic Wealth Partners Ltd. now owns 1,027 shares of the industrial products company’s stock worth $340,000 after buying an additional 30 shares in the last quarter. Fairfield Financial Advisors LTD increased its holdings in shares of Eaton by 16.2% in the third quarter. Fairfield Financial Advisors LTD now owns 215 shares of the industrial products company’s stock valued at $71,000 after buying an additional 30 shares in the last quarter. Westmount Partners LLC lifted its position in shares of Eaton by 3.1% during the 4th quarter. Westmount Partners LLC now owns 985 shares of the industrial products company’s stock valued at $327,000 after acquiring an additional 30 shares during the last quarter. Finally, Signal Advisors Wealth LLC boosted its stake in shares of Eaton by 3.5% during the 4th quarter. Signal Advisors Wealth LLC now owns 896 shares of the industrial products company’s stock worth $297,000 after acquiring an additional 30 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Eaton

In other news, Director Gregory R. Page sold 10,000 shares of the business’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 owns 43,203 shares in the company, valued at approximately $15,379,403.94. The trade was a 18.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of Eaton stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $378.58, for a total value 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 disclosure for this sale can be found here. In the last three months, insiders have sold 72,981 shares of company stock worth $26,318,917. 0.53% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on ETN shares. Jefferies Financial Group upped their target price on Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a report on Friday, December 6th. Bank of America raised their target price on shares of Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Barclays boosted their price target on shares of Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. JPMorgan Chase & Co. lowered their price objective on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. Finally, Mizuho boosted 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. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $369.30.

Eaton Stock Performance

ETN stock opened at $326.32 on Friday. The company has a market capitalization of $128.96 billion, a price-to-earnings ratio of 34.72, a P/E/G ratio of 2.21 and a beta of 1.06. The firm has a 50 day moving average of $349.23 and a two-hundred day moving average of $331.08. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. Eaton Co. plc has a 12 month low of $245.65 and a 12 month high of $379.99.

Eaton (NYSE:ETN) last posted its earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, topping the consensus estimate of $2.82 by $0.01. Eaton had a net margin of 15.32% and a return on equity of 21.97%. During the same quarter in the prior year, the business earned $2.55 EPS. As a group, equities 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.