Genesee Capital Advisors LLC Sells 36 Shares of Eaton Co. plc (NYSE:ETN)

Genesee Capital Advisors LLC cut its holdings in Eaton Co. plc (NYSE:ETN) by 2.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,706 shares of the industrial products company’s stock after selling 36 shares during the period. Genesee Capital Advisors LLC’s holdings in Eaton were worth $566,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Groupama Asset Managment grew its holdings in Eaton by 83.2% during the third quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 4,298 shares during the period. Horizon Bancorp Inc. IN grew its stake in shares of Eaton by 321.7% during the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 74 shares during the period. Morse Asset Management Inc purchased a new stake in Eaton in the 3rd quarter worth approximately $33,000. West Financial Advisors LLC bought a new stake in Eaton during the 3rd quarter worth approximately $35,000. Finally, DT Investment Partners LLC purchased a new position in Eaton during the third quarter valued at approximately $37,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Activity

In related news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $378.58, for a total value of $534,554.96. Following the transaction, the insider now owns 31,200 shares of the company’s stock, valued at $11,811,696. This represents a 4.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gregory R. Page sold 4,000 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $335.30, for a total value of $1,341,200.00. Following the completion of the sale, the director now owns 51,422 shares of the company’s stock, valued at $17,241,796.60. This represents a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 76,981 shares of company stock valued at $27,660,117. 0.53% of the stock is currently owned by company insiders.

Analyst Ratings Changes

ETN has been the subject of a number of analyst reports. Mizuho increased their price objective on shares of Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Bank of America raised their price target on Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. UBS Group began coverage on Eaton in a research note on Wednesday, November 13th. They issued a “buy” rating and a $431.00 price objective for the company. Barclays boosted their price target on Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Finally, Jefferies Financial Group increased their price objective on shares of Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a report on Friday, December 6th. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Eaton presently has an average rating of “Moderate Buy” and a consensus price target of $369.30.

Eaton Trading Up 0.2 %

ETN stock opened at $312.26 on Wednesday. The firm’s fifty day simple moving average is $353.01 and its two-hundred day simple moving average is $331.34. The stock has a market capitalization of $123.41 billion, a price-to-earnings ratio of 33.22, a price-to-earnings-growth ratio of 2.57 and a beta of 1.06. 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 twelve month low of $244.35 and a twelve month high of $379.99.

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

Eaton Company 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.