Capital Investment Advisory Services LLC Sells 43 Shares of Eaton Co. plc (NYSE:ETN)

Capital Investment Advisory Services LLC decreased its holdings in Eaton Co. plc (NYSE:ETN) by 0.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,648 shares of the industrial products company’s stock after selling 43 shares during the quarter. Capital Investment Advisory Services LLC’s holdings in Eaton were worth $1,543,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in ETN. Ascent Group LLC lifted its position in Eaton by 7.2% during the second quarter. Ascent Group LLC now owns 792 shares of the industrial products company’s stock valued at $248,000 after purchasing an additional 53 shares in the last quarter. Quarry LP purchased a new position in shares of Eaton during the 2nd quarter valued at about $84,000. Dana Investment Advisors Inc. grew its stake in shares of Eaton by 1.4% during the 2nd quarter. Dana Investment Advisors Inc. now owns 23,461 shares of the industrial products company’s stock valued at $7,356,000 after acquiring an additional 334 shares during the period. Gordian Capital Singapore Pte Ltd purchased a new stake in Eaton in the 2nd quarter worth approximately $182,000. Finally, Sanctuary Advisors LLC purchased a new position in Eaton during the second quarter valued at approximately $27,653,000. 82.97% of the stock is currently owned by institutional investors.

Eaton Trading Up 1.7 %

Shares of NYSE ETN opened at $317.90 on Thursday. The stock has a market capitalization of $125.63 billion, a P/E ratio of 33.82, a PEG ratio of 2.57 and a beta of 1.06. Eaton Co. plc has a 1-year low of $245.65 and a 1-year high of $379.99. The business’s 50 day moving average is $351.98 and its two-hundred day moving average is $331.21. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00.

Eaton (NYSE:ETN) last released its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.80 by $0.04. The company had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. Eaton’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.47 EPS. As a group, research analysts expect that Eaton Co. plc will post 10.79 EPS for the current year.

Analyst Ratings Changes

ETN has been the topic of several recent analyst reports. Mizuho raised their price objective 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. JPMorgan Chase & Co. dropped their price objective on Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. Barclays lifted their target price on Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Melius downgraded Eaton from a “buy” rating to a “hold” rating and set a $373.00 price target for the company. in a research note on Tuesday. Finally, Citigroup reduced 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. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Eaton currently has an average rating of “Moderate Buy” and a consensus price target of $369.30.

Insider Buying and Selling at Eaton

In related news, insider Craig Arnold sold 61,569 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the completion of the sale, the insider now directly owns 506,360 shares of the company’s stock, valued at approximately $182,780,769.20. This trade represents a 10.84 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the company’s stock in a transaction on 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 transaction, the insider now directly owns 31,200 shares in the company, valued at $11,811,696. This trade represents a 4.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 76,981 shares of company stock worth $27,660,117 over the last quarter. Insiders own 0.53% of the company’s stock.

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.