WealthShield Partners LLC Trims Stock Position in Eaton Co. plc (NYSE:ETN)

WealthShield Partners LLC cut its stake in shares of Eaton Co. plc (NYSE:ETN) by 7.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,016 shares of the industrial products company’s stock after selling 743 shares during the quarter. WealthShield Partners LLC’s holdings in Eaton were worth $2,992,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of ETN. Hennion & Walsh Asset Management Inc. increased its position in shares of Eaton by 11.0% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 3,351 shares of the industrial products company’s stock worth $1,111,000 after acquiring an additional 332 shares during the period. Silver Oak Securities Incorporated increased its holdings in Eaton by 30.8% during the third quarter. Silver Oak Securities Incorporated now owns 1,360 shares of the industrial products company’s stock valued at $451,000 after buying an additional 320 shares during the period. BKM Wealth Management LLC purchased a new position in Eaton during the third quarter valued at approximately $246,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in Eaton by 38.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,150 shares of the industrial products company’s stock valued at $13,187,000 after buying an additional 11,098 shares during the period. Finally, Arkadios Wealth Advisors increased its holdings in Eaton by 247.5% during the third quarter. Arkadios Wealth Advisors now owns 3,802 shares of the industrial products company’s stock valued at $1,260,000 after buying an additional 2,708 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

Eaton Stock Performance

ETN opened at $297.11 on Monday. The firm has a market capitalization of $117.42 billion, a PE ratio of 31.27, a PEG ratio of 2.64 and a beta of 1.05. Eaton Co. plc has a twelve month low of $255.65 and a twelve month high of $379.99. The firm’s 50-day moving average price is $331.97 and its 200 day moving average price is $332.81. 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 posted its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share 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. As a group, sell-side analysts expect that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ETN. Sanford C. Bernstein began coverage on shares of Eaton in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 target price for the company. Royal Bank of Canada reiterated an “outperform” rating on shares of Eaton in a research note on Thursday, February 13th. Barclays boosted their target price on shares of Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Mizuho boosted their target price on shares of Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, Jefferies Financial Group lifted 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. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $366.05.

Insider Buying and Selling at Eaton

In other Eaton news, Director Gregory R. Page sold 10,000 shares of the business’s stock in a transaction dated 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 transaction, the director now directly owns 43,203 shares in the company, valued at $15,379,403.94. The trade was a 18.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.53% of the stock is currently owned by company insiders.

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.