Evermay Wealth Management LLC Lowers Stock Position in Eaton Co. plc (NYSE:ETN)

Evermay Wealth Management LLC reduced its position in Eaton Co. plc (NYSE:ETN) by 7.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,855 shares of the industrial products company’s stock after selling 220 shares during the quarter. Evermay Wealth Management LLC’s holdings in Eaton were worth $947,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in ETN. Horizon Bancorp Inc. IN grew its holdings in shares of Eaton by 321.7% during the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 74 shares during the period. Morse Asset Management Inc purchased a new stake in Eaton during the third quarter worth approximately $33,000. West Financial Advisors LLC acquired a new stake in shares of Eaton in the third quarter worth $35,000. DT Investment Partners LLC acquired a new position in shares of Eaton during the 3rd quarter valued at $37,000. Finally, RPg Family Wealth Advisory LLC purchased a new stake in Eaton during the 3rd quarter worth $44,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling at Eaton

In other Eaton 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 transaction, the director now owns 43,203 shares in the company, valued at $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 is available at the SEC website. Also, insider Craig Arnold sold 61,569 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 506,360 shares in the company, valued at approximately $182,780,769.20. This represents a 10.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 72,981 shares of company stock valued at $26,318,917 in the last quarter. Company insiders own 0.53% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on ETN. Barclays raised their price objective on Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Evercore ISI cut shares of Eaton from an “outperform” rating to an “inline” rating and upped their price objective for the company from $333.00 to $389.00 in a research report on Wednesday, November 13th. Mizuho increased their target price on shares of Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Melius downgraded shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 price objective on the stock. in a research report on Tuesday. Finally, Wells Fargo & Company dropped their target price on 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $369.30.

Eaton Stock Down 0.2 %

ETN stock opened at $326.32 on Friday. The company’s 50 day simple moving average is $349.23 and its 200-day simple moving average is $331.08. Eaton Co. plc has a 52-week low of $245.65 and a 52-week high of $379.99. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00. The firm has a market capitalization of $128.96 billion, a P/E ratio of 34.72, a P/E/G ratio of 2.21 and a beta of 1.06.

Eaton (NYSE:ETN) last issued its earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, topping the consensus estimate of $2.82 by $0.01. Eaton had a return on equity of 21.97% and a net margin of 15.32%. During the same period in the previous year, the firm earned $2.55 earnings per share. As a group, equities research analysts anticipate that Eaton Co. plc will post 10.79 EPS for the current year.

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.