First Affirmative Financial Network Sells 294 Shares of Eaton Co. plc (NYSE:ETN)

First Affirmative Financial Network lessened its holdings in shares of Eaton Co. plc (NYSE:ETN) by 20.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 1,129 shares of the industrial products company’s stock after selling 294 shares during the period. First Affirmative Financial Network’s holdings in Eaton were worth $375,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of ETN. Groupama Asset Managment grew its holdings in shares of Eaton by 83.2% during the 3rd 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 last quarter. Horizon Bancorp Inc. IN boosted its position in Eaton by 321.7% during the fourth 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 period. Morse Asset Management Inc purchased a new position in shares of Eaton in the third quarter worth about $33,000. West Financial Advisors LLC purchased a new stake in Eaton during the 3rd quarter valued at about $35,000. Finally, DT Investment Partners LLC bought a new position in Eaton during the 3rd quarter worth approximately $37,000. 82.97% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on ETN. JPMorgan Chase & Co. dropped their price target on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research report on Wednesday, January 15th. Melius Research restated a “hold” rating and set a $373.00 price target on shares of Eaton in a report on Tuesday. Barclays increased their price objective on Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Melius downgraded Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price for the company. in a report on Tuesday. Finally, Wells Fargo & Company cut their price target on shares of Eaton from $365.00 to $350.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $369.30.

Eaton Trading Up 1.7 %

Shares of NYSE ETN opened at $317.90 on Thursday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53. The business’s 50 day moving average price is $351.98 and its 200-day moving average price is $331.21. Eaton Co. plc has a fifty-two week low of $245.65 and a fifty-two week high of $379.99. The company has a market cap of $125.63 billion, a price-to-earnings ratio of 33.82, a PEG ratio of 2.57 and a beta of 1.06.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.80 by $0.04. The company had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. During the same quarter in the prior year, the firm earned $2.47 earnings per share. Eaton’s revenue was up 7.9% compared to the same quarter last year. On average, sell-side analysts expect that Eaton Co. plc will post 10.79 earnings per share for the current year.

Insider Transactions at Eaton

In other 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 transaction, the insider now directly owns 31,200 shares of the company’s stock, valued at approximately $11,811,696. This represents a 4.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 sale, the director now directly owns 43,203 shares of the company’s stock, valued at approximately $15,379,403.94. This represents a 18.80 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 76,981 shares of company stock valued at $27,660,117. 0.53% of the stock is currently owned by corporate 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.