One Plus One Wealth Management LLC Cuts Stake in Eaton Co. plc (NYSE:ETN)

One Plus One Wealth Management LLC reduced its holdings in shares of Eaton Co. plc (NYSE:ETN) by 3.3% during the fourth quarter, Holdings Channel reports. The fund owned 1,020 shares of the industrial products company’s stock after selling 35 shares during the period. One Plus One Wealth Management LLC’s holdings in Eaton were worth $339,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. TFC Financial Management Inc. grew its holdings in shares of Eaton by 4.7% during the 4th quarter. TFC Financial Management Inc. now owns 752 shares of the industrial products company’s stock valued at $250,000 after purchasing an additional 34 shares during the last quarter. Consolidated Planning Corp boosted its position in Eaton by 2.9% during the fourth quarter. Consolidated Planning Corp now owns 24,632 shares of the industrial products company’s stock valued at $8,174,000 after buying an additional 703 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors grew its stake in shares of Eaton by 46.9% during the fourth quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 3,365 shares of the industrial products company’s stock valued at $1,117,000 after buying an additional 1,074 shares during the last quarter. Van ECK Associates Corp purchased a new position in shares of Eaton in the fourth quarter worth about $22,022,000. Finally, Jmac Enterprises LLC bought a new stake in shares of Eaton in the 4th quarter valued at about $283,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Eaton

In related news, Director Gregory R. Page sold 10,000 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at $15,379,403.94. This trade represents a 18.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the company’s stock in a transaction that occurred 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 ownership of the stock. The disclosure for this sale can be found here. 0.53% of the stock is owned by corporate insiders.

Eaton Stock Performance

Shares of Eaton stock opened at $309.93 on Thursday. The business has a fifty day simple moving average of $341.07 and a two-hundred day simple moving average of $331.62. The firm has a market capitalization of $122.48 billion, a P/E ratio of 32.62, a P/E/G ratio of 2.37 and a beta of 1.05. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. Eaton Co. plc has a 12 month low of $255.65 and a 12 month 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, 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 period in the previous year, the firm earned $2.55 EPS. On average, equities analysts forecast that Eaton Co. plc will post 12.04 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ETN has been the topic of several recent research reports. Bank of America raised their price target on Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Melius downgraded shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price on the stock. in a research note on Tuesday, January 28th. Jefferies Financial Group increased their price target on shares of Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Barclays raised their price target on shares of Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Finally, Melius Research reaffirmed a “hold” rating and set a $373.00 price objective on shares of Eaton in a research note on Tuesday, January 28th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $369.20.

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.