IFP Advisors Inc Lowers Stake in Eaton Co. plc (NYSE:ETN)

IFP Advisors Inc lessened its position in shares of Eaton Co. plc (NYSE:ETN) by 21.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,979 shares of the industrial products company’s stock after selling 1,870 shares during the period. IFP Advisors Inc’s holdings in Eaton were worth $2,316,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Modera Wealth Management LLC boosted its position in shares of Eaton by 38.1% in the third quarter. Modera Wealth Management LLC now owns 3,362 shares of the industrial products company’s stock worth $1,114,000 after buying an additional 928 shares during the period. J.W. Cole Advisors Inc. boosted its position in shares of Eaton by 200.1% in the third quarter. J.W. Cole Advisors Inc. now owns 6,162 shares of the industrial products company’s stock worth $2,042,000 after buying an additional 4,109 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its position in shares of Eaton by 1.6% in the third quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,912 shares of the industrial products company’s stock worth $965,000 after buying an additional 46 shares during the period. Autumn Glory Partners LLC purchased a new stake in shares of Eaton in the third quarter worth about $492,000. Finally, Orrstown Financial Services Inc. boosted its position in shares of Eaton by 138.4% in the third quarter. Orrstown Financial Services Inc. now owns 3,151 shares of the industrial products company’s stock worth $1,044,000 after buying an additional 1,829 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Transactions at Eaton

In other news, Director Gregory R. Page sold 10,000 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the sale, the director now directly owns 43,203 shares in the company, valued at approximately $15,379,403.94. This represents a 18.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

ETN has been the subject of several analyst reports. JPMorgan Chase & Co. decreased their target price on Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research report on Wednesday, January 15th. Barclays upped their target price on Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Melius Research reissued a “hold” rating and issued a $373.00 price target on shares of Eaton in a report on Tuesday, January 28th. Jefferies Financial Group increased their price target on Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a report on Friday, December 6th. Finally, Sanford C. Bernstein began coverage on Eaton in a report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $366.05.

Eaton Stock Down 0.9 %

Shares of Eaton stock opened at $287.12 on Wednesday. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. The business’s 50 day simple moving average is $329.47 and its 200-day simple moving average is $332.80. The stock has a market capitalization of $113.47 billion, a price-to-earnings ratio of 30.22, a PEG ratio of 2.64 and a beta of 1.05. Eaton Co. plc has a twelve month low of $255.65 and a twelve month high of $379.99.

Eaton (NYSE:ETN) last announced its quarterly 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 previous year, the business posted $2.55 EPS. Equities research analysts forecast that Eaton Co. plc will post 12.02 earnings per share for the current 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.