Court Place Advisors LLC Sells 1,070 Shares of Eaton Co. plc (NYSE:ETN)

Court Place Advisors LLC cut its stake in shares of Eaton Co. plc (NYSE:ETN) by 15.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 5,819 shares of the industrial products company’s stock after selling 1,070 shares during the quarter. Court Place Advisors LLC’s holdings in Eaton were worth $1,931,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Horizon Bancorp Inc. IN increased its position in Eaton by 321.7% in the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 74 shares during the period. Morse Asset Management Inc acquired a new stake in Eaton in the third quarter valued at $33,000. West Financial Advisors LLC bought a new position in Eaton during the 3rd quarter worth $35,000. DT Investment Partners LLC acquired a new position in Eaton during the 3rd quarter worth about $37,000. Finally, RPg Family Wealth Advisory LLC bought a new stake in shares of Eaton in the 3rd quarter valued at about $44,000. 82.97% of the stock is currently owned by institutional investors.

Eaton Stock Performance

ETN opened at $310.11 on Tuesday. Eaton Co. plc has a 1-year low of $244.35 and a 1-year high of $379.99. The company has a market cap of $122.55 billion, a price-to-earnings ratio of 32.99, a PEG ratio of 2.57 and a beta of 1.06. The company’s fifty day moving average price is $353.96 and its two-hundred day moving average price is $331.47. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45.

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

Analyst Ratings Changes

ETN has been the subject of a number of analyst reports. JPMorgan Chase & Co. lowered their price objective on Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research report on Wednesday, January 15th. Mizuho upped their price objective on shares of Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Wells Fargo & Company lowered their target price on shares of Eaton from $365.00 to $350.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Sanford C. Bernstein assumed coverage on shares of Eaton in a research report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 price target on the stock. Finally, UBS Group began coverage on Eaton in a research report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 price objective for the company. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $368.89.

Insider Activity at Eaton

In other Eaton news, Director Gregory R. Page sold 4,000 shares of Eaton stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the transaction, the director now owns 51,422 shares of the company’s stock, valued at $17,241,796.60. This trade represents a 7.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 value of $534,554.96. Following the completion of 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 disclosure for this sale can be found here. In the last three months, insiders sold 76,981 shares of company stock valued at $27,660,117. 0.53% of the stock is owned by insiders.

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.