Bleakley Financial Group LLC Decreases Stock Holdings in Eaton Co. plc (NYSE:ETN)

Bleakley Financial Group LLC lowered its stake in Eaton Co. plc (NYSE:ETN) by 1.2% during the 4th quarter, HoldingsChannel reports. The firm owned 12,937 shares of the industrial products company’s stock after selling 151 shares during the period. Bleakley Financial Group LLC’s holdings in Eaton were worth $4,293,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. NovaPoint Capital LLC boosted its stake in shares of Eaton by 6.1% in the 4th quarter. NovaPoint Capital LLC now owns 4,534 shares of the industrial products company’s stock worth $1,505,000 after buying an additional 261 shares during the last quarter. Robertson Stephens Wealth Management LLC lifted its holdings in Eaton by 0.9% in the fourth quarter. Robertson Stephens Wealth Management LLC now owns 7,482 shares of the industrial products company’s stock valued at $2,483,000 after acquiring an additional 68 shares during the period. Nvwm LLC grew its stake in shares of Eaton by 0.8% during the 4th quarter. Nvwm LLC now owns 4,737 shares of the industrial products company’s stock valued at $1,572,000 after purchasing an additional 38 shares during the period. Lion Street Advisors LLC increased its position in shares of Eaton by 22.5% during the 4th quarter. Lion Street Advisors LLC now owns 2,826 shares of the industrial products company’s stock valued at $938,000 after purchasing an additional 520 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Eaton by 34.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 53,963 shares of the industrial products company’s stock worth $18,013,000 after purchasing an additional 13,813 shares during the period. Institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Evercore ISI cut shares of Eaton from an “outperform” rating to an “inline” rating and upped their target price for the company from $333.00 to $389.00 in a report on Wednesday, November 13th. Wells Fargo & Company reduced their price objective on Eaton from $350.00 to $335.00 and set an “equal weight” rating for the company in a research note on Monday. Sanford C. Bernstein assumed coverage on Eaton in a research report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 target price on the stock. Melius Research restated a “hold” rating and issued a $373.00 price target on shares of Eaton in a research report on Tuesday, January 28th. Finally, Bank of America lifted their price objective on Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Eaton currently has a consensus rating of “Moderate Buy” and a consensus target price of $369.20.

Insider Buying and Selling at Eaton

In other news, insider Ernest W. Marshall, Jr. sold 1,412 shares of Eaton stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $378.58, for a total value of $534,554.96. Following the transaction, the insider now owns 31,200 shares of the company’s stock, valued at $11,811,696. The trade was a 4.33 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gregory R. Page sold 10,000 shares of Eaton stock in a transaction that occurred on 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 owns 43,203 shares of the company’s stock, valued at approximately $15,379,403.94. This represents a 18.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is owned by company insiders.

Eaton Trading Up 0.0 %

Shares of ETN stock opened at $315.32 on Friday. The stock’s 50-day moving average price is $345.63 and its 200-day moving average price is $331.17. Eaton Co. plc has a 12-month low of $255.65 and a 12-month high of $379.99. The stock has a market capitalization of $124.61 billion, a price-to-earnings ratio of 33.19, a price-to-earnings-growth ratio of 2.27 and a beta of 1.05. 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 issued its quarterly earnings data 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 22.62% and a net margin of 15.25%. During the same quarter in the previous year, the business posted $2.55 EPS. Equities research analysts predict that Eaton Co. plc will post 12 EPS for the current fiscal 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.