Evermay Wealth Management LLC Sells 220 Shares of Eaton Co. plc (NYSE:ETN)

Evermay Wealth Management LLC reduced its position in shares of Eaton Co. plc (NYSE:ETN) by 7.2% in the 4th quarter, HoldingsChannel reports. The firm owned 2,855 shares of the industrial products company’s stock after selling 220 shares during the period. Evermay Wealth Management LLC’s holdings in Eaton were worth $947,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ETN. Groupama Asset Managment boosted its holdings in shares of Eaton by 83.2% in the 3rd quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 4,298 shares in the last quarter. Horizon Bancorp Inc. IN increased its stake in shares of 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 buying an additional 74 shares during the period. Morse Asset Management Inc acquired a new position in Eaton during the 3rd quarter valued at about $33,000. West Financial Advisors LLC bought a new position in shares of Eaton in the 3rd quarter valued at about $35,000. Finally, DT Investment Partners LLC acquired a new stake in shares of Eaton during the 3rd quarter worth approximately $37,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Eaton

In related news, Director Gregory R. Page sold 10,000 shares of Eaton stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the completion of the sale, the director now owns 43,203 shares of the company’s stock, valued at approximately $15,379,403.94. The trade was a 18.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $378.58, for a total transaction of $534,554.96. Following the completion of the transaction, the insider now directly owns 31,200 shares in the company, 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. Insiders have sold 72,981 shares of company stock worth $26,318,917 in the last ninety days. Insiders own 0.53% of the company’s stock.

Eaton Trading Down 0.2 %

Shares of NYSE:ETN opened at $326.32 on Friday. The stock has a market capitalization of $128.96 billion, a PE ratio of 34.72, a price-to-earnings-growth ratio of 2.21 and a beta of 1.06. The company’s 50-day moving average price is $349.23 and its two-hundred day moving average price is $331.08. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00. Eaton Co. plc has a one year low of $245.65 and a one year high of $379.99.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, beating analysts’ consensus estimates 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 prior year, the business earned $2.55 earnings per share. On average, equities analysts forecast that Eaton Co. plc will post 10.79 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ETN. Citigroup reduced their price objective on shares of Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Barclays lifted their price objective on Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Jefferies Financial Group increased their target price on Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Evercore ISI cut Eaton from an “outperform” rating to an “inline” rating and upped their price target for the company from $333.00 to $389.00 in a research note on Wednesday, November 13th. Finally, Wells Fargo & Company decreased their price objective on shares of Eaton from $365.00 to $350.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $369.30.

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.