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

WealthShield Partners LLC reduced its stake in Eaton Co. plc (NYSE:ETN) by 7.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 9,016 shares of the industrial products company’s stock after selling 743 shares during the quarter. WealthShield Partners LLC’s holdings in Eaton were worth $2,992,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in ETN. Groupama Asset Managment lifted its holdings in shares of Eaton by 83.2% in the 3rd quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 4,298 shares during the last quarter. Horizon Bancorp Inc. IN increased its stake in 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 buying an additional 74 shares during the period. Morse Asset Management Inc purchased a new stake in Eaton during the 3rd quarter worth approximately $33,000. Activest Wealth Management increased its stake in Eaton by 621.4% during the 4th quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock worth $34,000 after buying an additional 87 shares during the period. Finally, Hager Investment Management Services LLC purchased a new stake in Eaton during the 4th quarter worth approximately $38,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Mizuho upped their target price on shares of Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Sanford C. Bernstein assumed 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. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Eaton in a research note on Thursday, February 13th. Royal Bank of Canada reaffirmed an “outperform” rating on shares of Eaton in a research note on Thursday, February 13th. Finally, Citigroup dropped their price objective on shares of Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Eaton has an average rating of “Moderate Buy” and an average price target of $366.05.

Eaton Trading Down 3.8 %

NYSE ETN opened at $297.11 on Monday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. The firm’s fifty day moving average price is $331.97 and its 200 day moving average price is $332.81. The company has a market capitalization of $117.42 billion, a price-to-earnings ratio of 31.27, a price-to-earnings-growth ratio of 2.64 and a beta of 1.05. Eaton Co. plc has a 12 month low of $255.65 and a 12 month high of $379.99.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, topping 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 in the previous year, the company posted $2.55 earnings per share. On average, sell-side analysts expect that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Gregory R. Page sold 10,000 shares of the stock in a transaction on 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 completion of the sale, the director now owns 43,203 shares in the company, valued at $15,379,403.94. This represents a 18.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.53% of the stock is owned by company 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.