Dynamic Advisor Solutions LLC Decreases Position in Eaton Co. plc (NYSE:ETN)

Dynamic Advisor Solutions LLC cut its stake in shares of Eaton Co. plc (NYSE:ETN) by 11.8% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 9,678 shares of the industrial products company’s stock after selling 1,299 shares during the period. Dynamic Advisor Solutions LLC’s holdings in Eaton were worth $3,212,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ETN. B. Riley Wealth Advisors Inc. boosted its stake in shares of Eaton by 48.9% in the third quarter. B. Riley Wealth Advisors Inc. now owns 41,106 shares of the industrial products company’s stock valued at $13,533,000 after purchasing an additional 13,497 shares during the period. Ballentine Partners LLC raised its holdings in Eaton by 9.3% in the fourth quarter. Ballentine Partners LLC now owns 9,256 shares of the industrial products company’s stock valued at $3,072,000 after acquiring an additional 790 shares in the last quarter. Dakota Wealth Management grew its holdings in Eaton by 8.8% during the 4th quarter. Dakota Wealth Management now owns 49,436 shares of the industrial products company’s stock worth $16,406,000 after acquiring an additional 4,011 shares in the last quarter. Eastover Investment Advisors LLC bought a new stake in shares of Eaton in the 4th quarter worth about $6,167,000. Finally, Neville Rodie & Shaw Inc. raised its stake in shares of Eaton by 6.8% in the 4th quarter. Neville Rodie & Shaw Inc. now owns 38,386 shares of the industrial products company’s stock valued at $12,739,000 after purchasing an additional 2,428 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on ETN shares. JPMorgan Chase & Co. reduced their target price on Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Sanford C. Bernstein assumed coverage on shares of Eaton in a report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 target price on the stock. Citigroup decreased their price target on shares of Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a report on Monday, January 13th. Barclays increased their price objective on shares of Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Finally, Wells Fargo & Company decreased their target price on Eaton from $365.00 to $350.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $368.89.

Eaton Trading Down 0.3 %

Shares of ETN stock opened at $368.63 on Friday. The stock has a 50-day simple moving average of $353.96 and a 200 day simple moving average of $331.35. The stock has a market capitalization of $145.68 billion, a P/E ratio of 39.22, a P/E/G ratio of 2.57 and a beta of 1.06. Eaton Co. plc has a fifty-two week low of $241.87 and a fifty-two week high of $379.99. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45.

Eaton (NYSE:ETN) last released its earnings results on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. The business 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 business’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the previous year, the firm earned $2.47 EPS. On average, sell-side analysts expect that Eaton Co. plc will post 10.79 earnings per share for the current fiscal year.

Insider Transactions at Eaton

In other news, insider Craig Arnold sold 61,569 shares of Eaton stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total value of $22,224,561.93. Following the transaction, the insider now directly owns 506,360 shares of the company’s stock, valued at $182,780,769.20. This trade represents a 10.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the company’s stock in a transaction that occurred 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 sale, the insider now owns 31,200 shares of the company’s stock, valued at approximately $11,811,696. This trade represents a 4.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 76,981 shares of company stock valued at $27,660,117 in the last three months. 0.53% of the stock is currently owned by corporate insiders.

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.