IVC Wealth Advisors LLC Cuts Position in Eaton Co. plc (NYSE:ETN)

IVC Wealth Advisors LLC reduced its position in shares of Eaton Co. plc (NYSE:ETN) by 4.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,379 shares of the industrial products company’s stock after selling 214 shares during the period. Eaton comprises about 0.8% of IVC Wealth Advisors LLC’s holdings, making the stock its 26th largest holding. IVC Wealth Advisors LLC’s holdings in Eaton were worth $1,453,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Groupama Asset Managment increased its stake in Eaton by 83.2% during the 3rd quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock worth $31,000 after buying an additional 4,298 shares during the period. Horizon Bancorp Inc. IN increased its position in shares of Eaton by 321.7% during the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 74 shares during the period. Morse Asset Management Inc acquired a new stake in shares of Eaton in the third quarter valued at $33,000. West Financial Advisors LLC purchased a new position in Eaton in the third quarter valued at $35,000. Finally, DT Investment Partners LLC purchased a new stake in Eaton during the 3rd quarter worth about $37,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Eaton Price Performance

Shares of ETN opened at $369.58 on Friday. The firm has a market capitalization of $146.06 billion, a PE ratio of 39.32, a P/E/G ratio of 2.48 and a beta of 1.06. The stock’s 50 day moving average is $353.61 and its two-hundred day moving average is $330.74. Eaton Co. plc has a twelve month low of $241.45 and a twelve month high of $379.99. 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 posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The business had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.37 billion. During the same period in the prior year, the company posted $2.47 EPS. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. Research analysts anticipate that Eaton Co. plc will post 10.79 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Wells Fargo & Company decreased their price target 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. Bank of America raised their price target on Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Mizuho upped their price objective on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. UBS Group initiated coverage on shares of Eaton in a research report on Wednesday, November 13th. They set a “buy” rating and a $431.00 price objective for the company. Finally, Barclays boosted their price target on shares of Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $368.89.

Insider Buying and Selling

In related news, Director Gregory R. Page sold 4,000 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $335.30, for a total value of $1,341,200.00. Following the sale, the director now directly owns 51,422 shares in the company, valued at $17,241,796.60. The trade was a 7.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Craig Arnold sold 61,569 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the completion of the sale, the insider now owns 506,360 shares in the company, valued at $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 have sold a total of 76,981 shares of company stock worth $27,660,117 in the last quarter. Company insiders own 0.53% of the company’s stock.

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.