Eaton Co. plc (NYSE:ETN) Shares Sold by Colton Groome Financial Advisors LLC

Colton Groome Financial Advisors LLC cut its holdings in shares of Eaton Co. plc (NYSE:ETN) by 3.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,841 shares of the industrial products company’s stock after selling 152 shares during the quarter. Colton Groome Financial Advisors LLC’s holdings in Eaton were worth $1,275,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in ETN. Groupama Asset Managment grew its stake in shares of Eaton by 83.2% in the 3rd quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock valued at $31,000 after buying an additional 4,298 shares during the period. Horizon Bancorp Inc. IN grew its position in Eaton by 321.7% in the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 74 shares during the period. Morse Asset Management Inc acquired a new stake in Eaton during the third quarter worth $33,000. West Financial Advisors LLC purchased a new stake in Eaton in the third quarter valued at $35,000. Finally, DT Investment Partners LLC acquired a new position in shares of Eaton in the 3rd quarter valued at $37,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ETN. Evercore ISI downgraded Eaton from an “outperform” rating to an “inline” rating and raised their price objective for the stock from $333.00 to $389.00 in a research report on Wednesday, November 13th. Melius cut shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 price target for the company. in a research report on Tuesday. Citigroup decreased their price objective on shares of Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Jefferies Financial Group lifted their target price on shares of Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a report on Friday, December 6th. Finally, Bank of America upped their price target on Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Eaton presently has an average rating of “Moderate Buy” and a consensus target price of $369.30.

Eaton Stock Performance

Shares of Eaton stock opened at $327.09 on Thursday. The business has a 50-day simple moving average of $351.98 and a 200-day simple moving average of $331.21. The company has a market cap of $129.27 billion, a PE ratio of 34.53, a P/E/G ratio of 2.57 and a beta of 1.06. Eaton Co. plc has a one year low of $245.65 and a one year high of $379.99. 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 announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.80 by $0.04. The company had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The company’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.47 EPS. On average, equities research analysts forecast that Eaton Co. plc will post 10.79 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Gregory R. Page sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the completion of the sale, the director now owns 51,422 shares in the company, valued at approximately $17,241,796.60. The trade was a 7.22 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the stock in a transaction 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 completion of the transaction, the insider now directly owns 31,200 shares in the company, valued at $11,811,696. This trade represents a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 76,981 shares of company stock worth $27,660,117. Corporate insiders own 0.53% of the company’s stock.

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.