Eaton Co. plc (NYSE:ETN) Holdings Decreased by TrueWealth Advisors LLC

TrueWealth Advisors LLC lessened its stake in Eaton Co. plc (NYSE:ETN) by 3.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,708 shares of the industrial products company’s stock after selling 58 shares during the period. TrueWealth Advisors LLC’s holdings in Eaton were worth $567,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Arthur M. Cohen & Associates LLC increased its stake in shares of Eaton by 7.2% during the fourth quarter. Arthur M. Cohen & Associates LLC now owns 5,859 shares of the industrial products company’s stock valued at $1,944,000 after acquiring an additional 396 shares during the period. Brooklyn Investment Group boosted its stake in Eaton by 1.3% during the 4th quarter. Brooklyn Investment Group now owns 4,141 shares of the industrial products company’s stock valued at $1,374,000 after purchasing an additional 54 shares in the last quarter. Sax Wealth Advisors LLC increased its position in shares of Eaton by 12.1% during the 4th quarter. Sax Wealth Advisors LLC now owns 2,292 shares of the industrial products company’s stock valued at $761,000 after purchasing an additional 247 shares during the period. Merit Financial Group LLC raised its stake in shares of Eaton by 20.4% in the 4th quarter. Merit Financial Group LLC now owns 29,858 shares of the industrial products company’s stock worth $9,909,000 after buying an additional 5,057 shares in the last quarter. Finally, CNB Bank lifted its holdings in shares of Eaton by 8.4% in the fourth quarter. CNB Bank now owns 4,038 shares of the industrial products company’s stock valued at $1,340,000 after buying an additional 313 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

ETN has been the topic of several research reports. Citigroup dropped their price target 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. Sanford C. Bernstein began coverage on shares of Eaton in a research note on Tuesday, November 5th. They set an “outperform” rating and a $382.00 target price for the company. UBS Group assumed coverage on shares of Eaton in a report on Wednesday, November 13th. They set a “buy” rating and a $431.00 target price for the company. Wells Fargo & Company dropped their price target on Eaton from $365.00 to $350.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Finally, Royal Bank of Canada raised their price objective on Eaton from $374.00 to $392.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Eaton currently has an average rating of “Moderate Buy” and a consensus price target of $368.89.

Insider Transactions at Eaton

In related news, insider Craig Arnold sold 61,569 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were 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 represents a 10.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gregory R. Page sold 4,000 shares of Eaton stock in a transaction on Friday, November 1st. The stock was sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the completion of the transaction, the director now owns 51,422 shares in the company, valued at $17,241,796.60. This trade represents a 7.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 76,981 shares of company stock worth $27,660,117 in the last 90 days. 0.53% of the stock is owned by insiders.

Eaton Trading Up 0.4 %

Eaton stock opened at $346.54 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. Eaton Co. plc has a 12 month low of $236.20 and a 12 month high of $379.99. The company’s fifty day simple moving average is $354.73 and its 200-day simple moving average is $329.53. The stock has a market cap of $136.95 billion, a P/E ratio of 36.87, a P/E/G ratio of 2.27 and a beta of 1.06.

Eaton (NYSE:ETN) last issued its earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, topping 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%. The business’s revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.47 EPS. As a group, sell-side analysts forecast that Eaton Co. plc will post 10.8 EPS for the current fiscal year.

Eaton Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 4th were given a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend was Monday, November 4th. Eaton’s dividend payout ratio is 40.00%.

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.