Beacon Financial Group Cuts Stake in Eaton Co. plc (NYSE:ETN)

Beacon Financial Group cut its stake in Eaton Co. plc (NYSE:ETN) by 6.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,904 shares of the industrial products company’s stock after selling 1,814 shares during the quarter. Eaton makes up approximately 1.0% of Beacon Financial Group’s portfolio, making the stock its 24th largest holding. Beacon Financial Group’s holdings in Eaton were worth $8,929,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of ETN. Schear Investment Advisers LLC purchased a new stake in shares of Eaton during the fourth quarter worth $935,000. Leavell Investment Management Inc. boosted its position in Eaton by 6.3% during the fourth quarter. Leavell Investment Management Inc. now owns 11,268 shares of the industrial products company’s stock worth $3,740,000 after acquiring an additional 668 shares during the last quarter. Portfolio Design Labs LLC grew its stake in Eaton by 38.3% during the 4th quarter. Portfolio Design Labs LLC now owns 7,867 shares of the industrial products company’s stock valued at $2,611,000 after acquiring an additional 2,179 shares in the last quarter. Quent Capital LLC raised its holdings in Eaton by 14.0% in the 4th quarter. Quent Capital LLC now owns 1,573 shares of the industrial products company’s stock valued at $522,000 after acquiring an additional 193 shares during the last quarter. Finally, New Republic Capital LLC lifted its stake in Eaton by 6.8% in the 4th quarter. New Republic Capital LLC now owns 893 shares of the industrial products company’s stock worth $296,000 after purchasing an additional 57 shares in the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $378.58, for a total transaction of $534,554.96. Following the completion of the transaction, the insider now directly owns 31,200 shares of the company’s stock, valued at approximately $11,811,696. The trade was a 4.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 directly owns 43,203 shares in the company, valued at approximately $15,379,403.94. This trade represents a 18.80 % decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is owned by company insiders.

Eaton Price Performance

ETN stock opened at $316.92 on Wednesday. The business’s fifty day moving average price is $342.21 and its 200 day moving average price is $331.48. Eaton Co. plc has a 12-month low of $255.65 and a 12-month high of $379.99. The company has a market capitalization of $125.25 billion, a PE ratio of 33.36, 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 (NYSE:ETN) last issued its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) 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 quarter last year, the firm earned $2.55 EPS. On average, sell-side analysts anticipate that Eaton Co. plc will post 12.04 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ETN. Barclays upped their price target on Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Bank of America upped their target price on Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Citigroup reduced their price target on Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Mizuho upped their price objective on shares of Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, UBS Group began coverage on shares of Eaton in a research note on Wednesday, November 13th. They set a “buy” rating and a $431.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Eaton presently has an average rating of “Moderate Buy” and a consensus price target 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.