Eaton Co. plc (NYSE:ETN) Position Lessened by Forvis Mazars Wealth Advisors LLC

Forvis Mazars Wealth Advisors LLC trimmed its position in shares of Eaton Co. plc (NYSE:ETN) by 8.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,003 shares of the industrial products company’s stock after selling 177 shares during the period. Forvis Mazars Wealth Advisors LLC’s holdings in Eaton were worth $665,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Geode Capital Management LLC raised its holdings in shares of Eaton by 0.7% during the third quarter. Geode Capital Management LLC now owns 8,069,341 shares of the industrial products company’s stock worth $2,665,342,000 after acquiring an additional 56,516 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Eaton by 15.1% during the third quarter. Franklin Resources Inc. now owns 2,421,626 shares of the industrial products company’s stock worth $836,938,000 after acquiring an additional 316,830 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of Eaton by 32.8% during the third quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company’s stock worth $801,798,000 after acquiring an additional 597,700 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Eaton by 253.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,273,685 shares of the industrial products company’s stock worth $753,590,000 after acquiring an additional 1,629,856 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Eaton by 1.0% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,436,051 shares of the industrial products company’s stock worth $476,582,000 after acquiring an additional 13,862 shares in the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on ETN. Royal Bank of Canada reissued an “outperform” rating on shares of Eaton in a research report on Thursday, February 13th. Melius Research reissued a “hold” rating and set a $373.00 target price on shares of Eaton in a research report on Tuesday, January 28th. UBS Group began coverage on shares of Eaton in a research report on Wednesday, November 13th. They set a “buy” rating and a $431.00 target price on the stock. Wells Fargo & Company reissued an “equal weight” rating on shares of Eaton in a research report on Thursday, February 13th. Finally, Jefferies Financial Group increased their target price on shares of Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Eaton has an average rating of “Moderate Buy” and an average price target of $366.05.

Eaton Stock Down 2.6 %

ETN stock opened at $289.68 on Tuesday. Eaton Co. plc has a twelve month low of $255.65 and a twelve month high of $379.99. The company has a market cap of $114.48 billion, a PE ratio of 30.49, a price-to-earnings-growth ratio of 2.64 and a beta of 1.05. The business’s 50-day simple moving average is $330.66 and its 200 day simple moving average is $332.83. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46.

Eaton (NYSE:ETN) last released its 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 return on equity of 22.62% and a net margin of 15.25%. During the same quarter in the prior year, the firm earned $2.55 EPS. On average, research analysts anticipate that Eaton Co. plc will post 12.02 earnings per share for the current year.

Insider Buying and Selling

In other Eaton news, Director Gregory R. Page sold 10,000 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the completion of the transaction, the director now owns 43,203 shares in the company, valued at $15,379,403.94. This trade represents a 18.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.53% of the stock is owned by company insiders.

About Eaton

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.