Sanctuary Advisors LLC Sells 6,240 Shares of Eaton Co. plc (NYSE:ETN)

Sanctuary Advisors LLC decreased its stake in shares of Eaton Co. plc (NYSE:ETN) by 5.5% during the fourth quarter, Holdings Channel reports. The firm owned 106,381 shares of the industrial products company’s stock after selling 6,240 shares during the quarter. Sanctuary Advisors LLC’s holdings in Eaton were worth $34,797,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. KLCM Advisors Inc. raised its position in Eaton by 76.0% in the fourth quarter. KLCM Advisors Inc. now owns 6,971 shares of the industrial products company’s stock worth $2,313,000 after acquiring an additional 3,010 shares during the period. Principal Financial Group Inc. raised its position in Eaton by 4.9% in the fourth quarter. Principal Financial Group Inc. now owns 479,868 shares of the industrial products company’s stock worth $159,254,000 after acquiring an additional 22,518 shares during the period. Americana Partners LLC raised its position in Eaton by 447.1% in the fourth quarter. Americana Partners LLC now owns 145,912 shares of the industrial products company’s stock worth $48,424,000 after acquiring an additional 119,240 shares during the period. Capital Performance Advisors LLP raised its position in Eaton by 21.6% in the fourth quarter. Capital Performance Advisors LLP now owns 716 shares of the industrial products company’s stock worth $238,000 after acquiring an additional 127 shares during the period. Finally, Strategic Advisors LLC raised its position in Eaton by 13.2% in the fourth quarter. Strategic Advisors LLC now owns 9,198 shares of the industrial products company’s stock worth $3,053,000 after acquiring an additional 1,075 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ETN has been the subject of a number of analyst reports. Jefferies Financial Group increased their price objective on shares of Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Wells Fargo & Company reduced their price objective on shares of Eaton from $350.00 to $335.00 and set an “equal weight” rating for the company in a research note on Monday, February 3rd. UBS Group initiated coverage on shares of Eaton in a research note on Wednesday, November 13th. They issued a “buy” rating and a $431.00 price objective for the company. Royal Bank of Canada reduced their price objective on shares of Eaton from $407.00 to $405.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Eaton currently has an average rating of “Moderate Buy” and a consensus price target of $369.20.

Eaton Price Performance

ETN 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 quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. The company has a fifty day simple moving average of $337.21 and a two-hundred day simple moving average of $331.70. The firm has a market capitalization of $122.20 billion, a P/E ratio of 32.55, a price-to-earnings-growth ratio of 2.37 and a beta of 1.05.

Eaton (NYSE:ETN) last released its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, beating the consensus estimate 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 last year, the company earned $2.55 earnings per share. Analysts anticipate that Eaton Co. plc will post 12.04 earnings per share for the current fiscal year.

Insider Transactions at Eaton

In other 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 value of $3,559,800.00. Following the completion of the sale, the director now owns 43,203 shares in the company, valued at approximately $15,379,403.94. This trade represents a 18.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was 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 $11,811,696. This trade represents a 4.33 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.53% of the company’s stock.

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.