Eaton Co. plc (NYSE:ETN) Shares Sold by Alpha Omega Wealth Management LLC

Alpha Omega Wealth Management LLC cut its stake in Eaton Co. plc (NYSE:ETN) by 1.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,321 shares of the industrial products company’s stock after selling 223 shares during the period. Eaton makes up 1.2% of Alpha Omega Wealth Management LLC’s investment portfolio, making the stock its 19th largest position. Alpha Omega Wealth Management LLC’s holdings in Eaton were worth $6,412,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. B. Riley Wealth Advisors Inc. grew its stake in Eaton by 48.9% during the third quarter. B. Riley Wealth Advisors Inc. now owns 41,106 shares of the industrial products company’s stock worth $13,533,000 after buying an additional 13,497 shares during the period. Lighthouse Wealth Management Inc. purchased a new stake in Eaton during the 4th quarter worth $297,000. Webster Bank N. A. increased its holdings in Eaton by 52.4% in the 4th quarter. Webster Bank N. A. now owns 17,925 shares of the industrial products company’s stock valued at $5,949,000 after purchasing an additional 6,166 shares in the last quarter. Ballentine Partners LLC raised its position in Eaton by 9.3% in the fourth quarter. Ballentine Partners LLC now owns 9,256 shares of the industrial products company’s stock valued at $3,072,000 after purchasing an additional 790 shares during the period. Finally, Blue Trust Inc. lifted its stake in shares of Eaton by 13.2% during the fourth quarter. Blue Trust Inc. now owns 14,494 shares of the industrial products company’s stock worth $4,804,000 after purchasing an additional 1,694 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Ratings Changes

ETN has been the topic of several recent research reports. Mizuho boosted their price target on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Royal Bank of Canada upped their target price on shares of Eaton from $374.00 to $392.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Barclays lifted their price target on shares of Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. JPMorgan Chase & Co. lowered their target price on Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. Finally, UBS Group initiated coverage on Eaton in a research note on Wednesday, November 13th. They issued a “buy” rating and a $431.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $369.30.

Insider Transactions at Eaton

In related news, Director Gregory R. Page sold 10,000 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $355.98, for a total value of $3,559,800.00. Following the completion of the transaction, the director now directly owns 43,203 shares of the company’s stock, valued at $15,379,403.94. This represents a 18.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Craig Arnold sold 61,569 shares of Eaton stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total value of $22,224,561.93. Following the sale, the insider now directly owns 506,360 shares in the company, valued at $182,780,769.20. The trade was a 10.84 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 72,981 shares of company stock worth $26,318,917. Insiders own 0.53% of the company’s stock.

Eaton Price Performance

ETN opened at $326.32 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. The company’s 50-day moving average price is $349.23 and its 200 day moving average price is $331.08. Eaton Co. plc has a fifty-two week low of $245.65 and a fifty-two week high of $379.99. The firm has a market cap of $128.96 billion, a price-to-earnings ratio of 34.72, a price-to-earnings-growth ratio of 2.21 and a beta of 1.06.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.82 by $0.01. Eaton had a return on equity of 21.97% and a net margin of 15.32%. During the same period in the prior year, the business posted $2.55 EPS. As a group, sell-side analysts expect that Eaton Co. plc will post 10.79 earnings per share for the current year.

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.