XML Financial LLC Sells 100 Shares of Eaton Co. plc (NYSE:ETN)

XML Financial LLC trimmed its position in Eaton Co. plc (NYSE:ETN) by 8.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,062 shares of the industrial products company’s stock after selling 100 shares during the period. XML Financial LLC’s holdings in Eaton were worth $353,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of ETN. Thrivent Financial for Lutherans raised its holdings in shares of Eaton by 110.2% in the second quarter. Thrivent Financial for Lutherans now owns 57,820 shares of the industrial products company’s stock valued at $18,129,000 after purchasing an additional 30,319 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Eaton by 60.1% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 76,594 shares of the industrial products company’s stock valued at $24,016,000 after buying an additional 28,760 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in Eaton during the 2nd quarter worth about $13,290,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Eaton during the 2nd quarter worth about $338,000. Finally, Unisphere Establishment bought a new position in shares of Eaton in the 2nd quarter valued at about $6,271,000. 82.97% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Gregory R. Page sold 4,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $335.30, for a total value of $1,341,200.00. Following the completion of the sale, the director now directly owns 51,422 shares in the company, valued at $17,241,796.60. This trade represents a 7.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Craig Arnold sold 61,569 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total value of $22,224,561.93. Following the completion of the transaction, the insider now owns 506,360 shares in the company, valued at approximately $182,780,769.20. The trade was a 10.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 76,981 shares of company stock valued at $27,660,117 over the last ninety days. 0.53% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on ETN. Evercore ISI lowered Eaton from an “outperform” rating to an “inline” rating and upped their target price for the stock from $333.00 to $389.00 in a report on Wednesday, November 13th. Mizuho raised their price objective on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. UBS Group assumed coverage on shares of Eaton in a report on Wednesday, November 13th. They set a “buy” rating and a $431.00 target price for the company. Sanford C. Bernstein initiated coverage on Eaton in a report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price objective on the stock. Finally, JPMorgan Chase & Co. lowered their target price on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $368.89.

Eaton Trading Up 3.8 %

Shares of NYSE ETN opened at $371.36 on Thursday. The stock has a market cap of $146.76 billion, a P/E ratio of 39.51, a price-to-earnings-growth ratio of 2.40 and a beta of 1.06. Eaton Co. plc has a 52-week low of $239.17 and a 52-week high of $379.99. The firm has a 50 day moving average price of $353.58 and a two-hundred day moving average price of $330.45. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53.

Eaton (NYSE:ETN) last released its earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.80 by $0.04. The business had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. Eaton’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.47 earnings per share. As a group, equities analysts forecast that Eaton Co. plc will post 10.79 EPS for the current year.

Eaton Company 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.