Eaton Co. plc (NYSE:ETN) Shares Sold by Certuity LLC

Certuity LLC lessened its holdings in Eaton Co. plc (NYSE:ETN) by 88.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,134 shares of the industrial products company’s stock after selling 8,700 shares during the quarter. Certuity LLC’s holdings in Eaton were worth $376,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the business. 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 valued at $31,000 after buying an additional 4,298 shares in the last quarter. Horizon Bancorp Inc. IN boosted its position in shares of 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 purchasing an additional 74 shares in the last quarter. Morse Asset Management Inc acquired a new position in shares of Eaton during the 3rd quarter worth $33,000. Activest Wealth Management increased its holdings in shares of Eaton by 621.4% in the 4th quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 87 shares in the last quarter. Finally, DT Investment Partners LLC purchased a new stake in Eaton during the third quarter worth about $37,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Sanford C. Bernstein assumed coverage on shares of Eaton in a report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 target price for the company. Melius downgraded Eaton from a “buy” rating to a “hold” rating and set a $373.00 price objective for the company. in a research note on Tuesday, January 28th. Melius Research reiterated a “hold” rating and set a $373.00 target price on shares of Eaton in a research report on Tuesday, January 28th. Royal Bank of Canada lowered their target price on Eaton from $407.00 to $405.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Finally, Wells Fargo & Company cut their price target on Eaton from $350.00 to $335.00 and set an “equal weight” rating for the company in a research note on Monday, February 3rd. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $369.20.

Insider Transactions at Eaton

In other Eaton news, Director Gregory R. Page sold 10,000 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was 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 $15,379,403.94. The trade was a 18.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $378.58, for a total value of $534,554.96. Following the completion of the sale, the insider now 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. Company insiders own 0.53% of the company’s stock.

Eaton Stock Performance

Shares of ETN stock opened at $309.93 on Thursday. The firm has a market capitalization of $122.48 billion, a price-to-earnings ratio of 32.62, a price-to-earnings-growth ratio of 2.37 and a beta of 1.05. The company has a 50 day moving average price of $341.07 and a 200 day moving average price of $331.62. Eaton Co. plc has a one year low of $255.65 and a one year high of $379.99. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50.

Eaton (NYSE:ETN) last issued its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, topping the consensus estimate of $2.82 by $0.01. Eaton had a return on equity of 22.62% and a net margin of 15.25%. During the same period last year, the company posted $2.55 EPS. Sell-side analysts anticipate that Eaton Co. plc will post 12.04 EPS for the current year.

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.