Meadow Creek Wealth Advisors LLC Trims Holdings in Eaton Co. plc (NYSE:ETN)

Meadow Creek Wealth Advisors LLC reduced its position in Eaton Co. plc (NYSE:ETN) by 3.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,891 shares of the industrial products company’s stock after selling 165 shares during the quarter. Eaton makes up about 1.2% of Meadow Creek Wealth Advisors LLC’s investment portfolio, making the stock its 19th largest holding. Meadow Creek Wealth Advisors LLC’s holdings in Eaton were worth $1,623,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ETN. Horizon Bancorp Inc. IN boosted its holdings in Eaton by 321.7% in the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock worth $32,000 after buying an additional 74 shares during the period. Morse Asset Management Inc bought a new position in shares of Eaton in the third quarter worth about $33,000. West Financial Advisors LLC purchased a new stake in shares of Eaton during the third quarter worth about $35,000. DT Investment Partners LLC bought a new stake in Eaton during the 3rd quarter valued at approximately $37,000. Finally, Hager Investment Management Services LLC bought a new position in Eaton in the 4th quarter worth approximately $38,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Eaton Stock Performance

Shares of Eaton stock opened at $315.04 on Thursday. Eaton Co. plc has a 52 week low of $255.65 and a 52 week high of $379.99. The company has a market capitalization of $124.50 billion, a PE ratio of 33.16, a price-to-earnings-growth ratio of 2.27 and a beta of 1.05. The stock’s fifty day moving average is $346.77 and its two-hundred day moving average is $331.28. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46.

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, beating 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 quarter last year, the business posted $2.55 earnings per share. As a group, analysts expect that Eaton Co. plc will post 12 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ETN. Evercore ISI downgraded shares of Eaton from an “outperform” rating to an “inline” rating and boosted their target price for the stock from $333.00 to $389.00 in a report on Wednesday, November 13th. UBS Group initiated coverage on shares of Eaton in a report on Wednesday, November 13th. They set a “buy” rating and a $431.00 price objective for the company. Sanford C. Bernstein initiated coverage on Eaton in a research report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 target price on the stock. Mizuho raised their price target on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, Jefferies Financial Group upped their price objective on Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $369.20.

Insider Buying and Selling

In related news, insider Ernest W. Marshall, Jr. sold 1,412 shares of Eaton stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $378.58, for a total transaction of $534,554.96. Following the transaction, the insider now directly owns 31,200 shares of the company’s stock, valued at $11,811,696. This trade represents a 4.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Gregory R. Page sold 10,000 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $355.98, for a total value of $3,559,800.00. Following the sale, the director now directly owns 43,203 shares in the company, valued at $15,379,403.94. This trade represents a 18.80 % decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is owned by insiders.

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.