JFS Wealth Advisors LLC Decreases Stock Position in Eaton Co. plc (NYSE:ETN)

JFS Wealth Advisors LLC trimmed its position in shares of Eaton Co. plc (NYSE:ETN) by 7.1% in the 4th quarter, Holdings Channel reports. The firm owned 2,702 shares of the industrial products company’s stock after selling 208 shares during the period. JFS Wealth Advisors LLC’s holdings in Eaton were worth $897,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its stake in shares of Eaton by 0.7% in 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 buying an additional 56,516 shares in the last quarter. Franklin Resources Inc. raised its holdings in Eaton by 15.1% in the 3rd quarter. Franklin Resources Inc. now owns 2,421,626 shares of the industrial products company’s stock valued at $836,938,000 after acquiring an additional 316,830 shares during the last quarter. Janus Henderson Group PLC lifted its stake in Eaton by 32.8% in the 3rd quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company’s stock worth $801,798,000 after purchasing an additional 597,700 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Eaton by 253.2% in 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 valued at $753,590,000 after purchasing an additional 1,629,856 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Eaton by 1.0% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,436,051 shares of the industrial products company’s stock valued at $476,582,000 after purchasing an additional 13,862 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on ETN shares. Bank of America upped their price objective on shares of Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Wells Fargo & Company reduced their target price on Eaton from $350.00 to $335.00 and set an “equal weight” rating on the stock in a research report on Monday, February 3rd. Mizuho increased their price target on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Evercore ISI lowered shares of Eaton from an “outperform” rating to an “inline” rating and boosted their price objective for the company from $333.00 to $389.00 in a report on Wednesday, November 13th. Finally, Melius lowered shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price for the company. in a research note on Tuesday, January 28th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $369.20.

Insider Activity

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 stock was sold at an average price of $355.98, for a total transaction 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 trade represents a 18.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $378.58, for a total value of $534,554.96. Following the completion of the sale, the insider now directly owns 31,200 shares of the company’s stock, valued at $11,811,696. The trade was a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.53% of the company’s stock.

Eaton Stock Up 0.5 %

Shares of Eaton stock opened at $309.21 on Monday. Eaton Co. plc has a 52-week low of $255.65 and a 52-week high of $379.99. The company has a 50 day moving average of $337.21 and a 200 day moving average of $331.70. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $122.20 billion, a P/E ratio of 32.55, a P/E/G ratio of 2.37 and a beta of 1.05.

Eaton (NYSE:ETN) last issued its earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, topping analysts’ consensus estimates of $2.82 by $0.01. Eaton had a net margin of 15.25% and a return on equity of 22.62%. During the same quarter in the prior year, the company earned $2.55 earnings per share. As a group, research analysts forecast that Eaton Co. plc will post 12.04 EPS for the current fiscal 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.