Meadow Creek Wealth Advisors LLC Trims Stake in Eaton Co. plc (NYSE:ETN)

Meadow Creek Wealth Advisors LLC trimmed its position in shares of Eaton Co. plc (NYSE:ETN) by 3.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,891 shares of the industrial products company’s stock after selling 165 shares during the period. Eaton comprises 1.2% of Meadow Creek Wealth Advisors LLC’s investment portfolio, making the stock its 19th largest position. Meadow Creek Wealth Advisors LLC’s holdings in Eaton were worth $1,623,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Groupama Asset Managment boosted its stake in shares of Eaton by 83.2% during the third quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 4,298 shares during the period. Horizon Bancorp Inc. IN raised its holdings in Eaton by 321.7% during the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after buying an additional 74 shares during the last quarter. Morse Asset Management Inc purchased a new stake in Eaton during the 3rd quarter valued at $33,000. West Financial Advisors LLC bought a new stake in Eaton in the 3rd quarter worth $35,000. Finally, DT Investment Partners LLC purchased a new position in shares of Eaton in the third quarter valued at about $37,000. Institutional investors own 82.97% of the company’s stock.

Insider Activity

In related news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the company’s stock in a transaction on 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 sale, the insider now owns 31,200 shares in the company, valued at approximately $11,811,696. This represents a 4.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 dated 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 in the company, valued at $15,379,403.94. The trade was a 18.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

ETN has been the topic of several recent analyst reports. UBS Group initiated coverage on Eaton in a research note on Wednesday, November 13th. They issued a “buy” rating and a $431.00 target price on the stock. Melius Research reiterated a “hold” rating and issued a $373.00 price objective on shares of Eaton in a research report on Tuesday, January 28th. Royal Bank of Canada dropped their price target on Eaton from $407.00 to $405.00 and set an “outperform” rating for the company in a research note on Monday. Mizuho boosted their price objective 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, Wells Fargo & Company dropped their target price on shares of Eaton from $350.00 to $335.00 and set an “equal weight” rating for the company in a research report on Monday. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Eaton currently has an average rating of “Moderate Buy” and an average price target of $369.20.

Eaton Stock Up 0.1 %

Shares of Eaton stock opened at $315.04 on Thursday. The stock has a market capitalization of $124.50 billion, a PE ratio of 33.16, a price-to-earnings-growth ratio of 2.27 and a beta of 1.05. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. The company has a 50-day simple moving average of $346.77 and a two-hundred day simple moving average of $331.28. Eaton Co. plc has a 52-week low of $255.65 and a 52-week high of $379.99.

Eaton (NYSE:ETN) last posted its earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, topping analysts’ consensus estimates of $2.82 by $0.01. Eaton had a return on equity of 22.62% and a net margin of 15.25%. During the same period last year, the business posted $2.55 earnings per share. On average, analysts anticipate that Eaton Co. plc will post 12 EPS for the current fiscal year.

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.