Eaton Co. plc (NYSE:ETN) Stock Holdings Cut by IFP Advisors Inc

IFP Advisors Inc reduced its position in shares of Eaton Co. plc (NYSE:ETN) by 21.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,979 shares of the industrial products company’s stock after selling 1,870 shares during the quarter. IFP Advisors Inc’s holdings in Eaton were worth $2,316,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Geode Capital Management LLC boosted its stake in shares of Eaton by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 8,069,341 shares of the industrial products company’s stock worth $2,665,342,000 after acquiring an additional 56,516 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of Eaton by 15.1% during the 3rd quarter. Franklin Resources Inc. now owns 2,421,626 shares of the industrial products company’s stock worth $836,938,000 after acquiring an additional 316,830 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of Eaton by 32.8% during the 3rd quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company’s stock worth $801,798,000 after acquiring an additional 597,700 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Eaton by 253.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,273,685 shares of the industrial products company’s stock worth $753,590,000 after acquiring an additional 1,629,856 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Eaton by 1.0% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,436,051 shares of the industrial products company’s stock worth $476,582,000 after acquiring an additional 13,862 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

Insider Buying and Selling at Eaton

In other Eaton news, Director Gregory R. Page sold 10,000 shares of the firm’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 directly owns 43,203 shares in the company, valued at $15,379,403.94. This trade represents a 18.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.33% of the company’s stock.

Eaton Price Performance

Shares of NYSE:ETN opened at $287.12 on Wednesday. Eaton Co. plc has a 1 year low of $255.65 and a 1 year high of $379.99. The business has a fifty day simple moving average of $329.47 and a 200 day simple moving average of $332.80. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. The firm has a market cap of $113.47 billion, a price-to-earnings ratio of 30.22, a P/E/G ratio of 2.64 and a beta of 1.05.

Eaton (NYSE:ETN) last posted its earnings results 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 quarter last year, the company earned $2.55 EPS. As a group, sell-side analysts predict that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ETN has been the subject of several research reports. Citigroup reduced their price objective on Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Sanford C. Bernstein began coverage on Eaton in a report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 target price for the company. Barclays increased their target price on Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Jefferies Financial Group increased 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. Finally, Evercore ISI reduced their target price on Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a report on Wednesday, February 19th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Eaton presently has a consensus rating of “Moderate Buy” and an average target price of $366.05.

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.