Eaton Co. plc (NYSE:ETN) Stake Decreased by Dover Advisors LLC

Dover Advisors LLC lessened its holdings in shares of Eaton Co. plc (NYSE:ETN) by 1.1% in the 4th quarter, Holdings Channel reports. The fund owned 11,716 shares of the industrial products company’s stock after selling 136 shares during the quarter. Eaton accounts for 2.2% of Dover Advisors LLC’s holdings, making the stock its 7th largest holding. Dover Advisors LLC’s holdings in Eaton were worth $3,888,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ETN. Wetzel Investment Advisors Inc. lifted its position in Eaton by 0.9% in the fourth quarter. Wetzel Investment Advisors Inc. now owns 3,101 shares of the industrial products company’s stock valued at $1,029,000 after acquiring an additional 28 shares during the last quarter. Fairfield Financial Advisors LTD increased its position in shares of Eaton by 16.2% during the third quarter. Fairfield Financial Advisors LTD now owns 215 shares of the industrial products company’s stock worth $71,000 after purchasing an additional 30 shares in the last quarter. Westmount Partners LLC lifted its holdings in shares of Eaton by 3.1% in the 4th quarter. Westmount Partners LLC now owns 985 shares of the industrial products company’s stock valued at $327,000 after purchasing an additional 30 shares during the last quarter. Signal Advisors Wealth LLC boosted its position in shares of Eaton by 3.5% in the 4th quarter. Signal Advisors Wealth LLC now owns 896 shares of the industrial products company’s stock valued at $297,000 after purchasing an additional 30 shares during the period. Finally, Lantz Financial LLC grew its stake in Eaton by 4.8% during the 4th quarter. Lantz Financial LLC now owns 659 shares of the industrial products company’s stock worth $219,000 after buying an additional 30 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Activity at Eaton

In other Eaton news, Director Gregory R. Page sold 10,000 shares of the business’s 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. The trade was 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. Corporate insiders own 0.53% of the company’s stock.

Eaton Price Performance

ETN opened at $297.11 on Monday. The company has a market capitalization of $117.42 billion, a P/E ratio of 31.27, a PEG ratio of 2.64 and a beta of 1.05. The company has a 50-day moving average of $331.97 and a 200-day moving average of $332.81. 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 Co. plc has a 1-year low of $255.65 and a 1-year high of $379.99.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, beating 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 earned $2.55 earnings per share. Equities analysts expect that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on ETN shares. Sanford C. Bernstein assumed coverage on Eaton in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price objective for the company. Mizuho upped their price target on shares of Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Jefferies Financial Group lifted their price objective on shares of Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. decreased their target price on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. Finally, Melius Research reissued a “hold” rating and set a $373.00 price target on shares of Eaton in a report on Tuesday, January 28th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $366.05.

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.