Northcape Wealth Management LLC Lowers Holdings in Eaton Co. plc (NYSE:ETN)

Northcape Wealth Management LLC reduced its position in shares of Eaton Co. plc (NYSE:ETN) by 2.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,293 shares of the industrial products company’s stock after selling 309 shares during the period. Eaton makes up 1.5% of Northcape Wealth Management LLC’s portfolio, making the stock its 16th biggest holding. Northcape Wealth Management LLC’s holdings in Eaton were worth $4,744,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in ETN. Cyndeo Wealth Partners LLC purchased a new stake in Eaton in the third quarter valued at approximately $417,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Eaton by 19.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 157,615 shares of the industrial products company’s stock worth $52,240,000 after buying an additional 25,843 shares during the last quarter. Northwest Investment Counselors LLC purchased a new stake in shares of Eaton during the 3rd quarter valued at $50,000. Waterway Wealth Management LLC bought a new stake in shares of Eaton during the 3rd quarter worth $229,000. Finally, Foundations Investment Advisors LLC grew its position in Eaton by 17.4% in the third quarter. Foundations Investment Advisors LLC now owns 1,830 shares of the industrial products company’s stock worth $607,000 after acquiring an additional 271 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Eaton Trading Up 1.3 %

ETN opened at $313.04 on Wednesday. The firm has a market capitalization of $123.71 billion, a price-to-earnings ratio of 32.95, a PEG ratio of 2.37 and a beta of 1.05. Eaton Co. plc has a one year low of $255.65 and a one year high of $379.99. The business has a 50 day simple moving average of $335.20 and a two-hundred day simple moving average of $332.20. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96.

Eaton (NYSE:ETN) last announced its quarterly 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 return on equity of 22.62% and a net margin of 15.25%. During the same period last year, the business earned $2.55 earnings per share. Analysts predict that Eaton Co. plc will post 12.04 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ETN. Wells Fargo & Company dropped their price target on Eaton from $350.00 to $335.00 and set an “equal weight” rating for the company in a research note on Monday, February 3rd. Barclays boosted their target price on Eaton from $320.00 to $353.00 and gave the stock 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 increased their price target for the company from $333.00 to $389.00 in a research report on Wednesday, November 13th. Citigroup lowered their price objective on shares of Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a report on Monday, January 13th. Finally, Sanford C. Bernstein initiated coverage on shares of Eaton in a report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 target price on the stock. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target 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 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 completion of 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 filing with the SEC, which can be accessed through this link. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the company’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 directly owns 31,200 shares in the company, valued at $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 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.