Colton Groome Financial Advisors LLC Trims Position in Eaton Co. plc (NYSE:ETN)

Colton Groome Financial Advisors LLC lowered its stake in shares of Eaton Co. plc (NYSE:ETN) by 3.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,841 shares of the industrial products company’s stock after selling 152 shares during the period. Colton Groome Financial Advisors LLC’s holdings in Eaton were worth $1,275,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Groupama Asset Managment grew its stake in shares of Eaton by 83.2% in the 3rd 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 last quarter. Horizon Bancorp Inc. IN lifted its holdings in shares of Eaton by 321.7% during the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 74 shares during the period. Morse Asset Management Inc purchased a new position in Eaton in the 3rd quarter valued at $33,000. West Financial Advisors LLC acquired a new position in Eaton in the 3rd quarter valued at $35,000. Finally, DT Investment Partners LLC purchased a new position in Eaton during the 3rd quarter worth $37,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Transactions at Eaton

In other Eaton news, Director Gregory R. Page sold 10,000 shares of the 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 transaction, 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Craig Arnold sold 61,569 shares of the business’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 sale, the insider now directly owns 506,360 shares of the company’s stock, valued at $182,780,769.20. This represents a 10.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 76,981 shares of company stock worth $27,660,117 over the last ninety days. 0.53% of the stock is currently owned by corporate insiders.

Eaton Price Performance

Shares of NYSE:ETN opened at $327.09 on Thursday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53. The business’s fifty day moving average price is $351.98 and its two-hundred day moving average price is $331.21. The stock has a market cap of $129.27 billion, a PE ratio of 34.53, a price-to-earnings-growth ratio of 2.57 and a beta of 1.06. Eaton Co. plc has a one year low of $245.65 and a one year high of $379.99.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $6.37 billion. During the same quarter last year, the company earned $2.47 earnings per share. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. On average, analysts forecast that Eaton Co. plc will post 10.79 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ETN. Evercore ISI lowered shares of Eaton from an “outperform” rating to an “inline” rating and boosted their price target for the stock from $333.00 to $389.00 in a research note on Wednesday, November 13th. Melius Research reiterated a “hold” rating and set a $373.00 target price on shares of Eaton in a research report on Tuesday. UBS Group assumed coverage on Eaton in a report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 price target for the company. Sanford C. Bernstein began coverage on Eaton in a research report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price objective for the company. Finally, Jefferies Financial Group raised 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. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $369.30.

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.