Centennial Wealth Advisory LLC Sells 36 Shares of Eaton Co. plc (NYSE:ETN)

Centennial Wealth Advisory LLC lowered its position in shares of Eaton Co. plc (NYSE:ETN) by 3.6% during the fourth quarter, HoldingsChannel reports. The fund owned 952 shares of the industrial products company’s stock after selling 36 shares during the quarter. Centennial Wealth Advisory LLC’s holdings in Eaton were worth $316,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Horizon Bancorp Inc. IN lifted its holdings in 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 buying an additional 74 shares during the period. Morse Asset Management Inc acquired a new position in shares of Eaton in the 3rd quarter valued at about $33,000. West Financial Advisors LLC acquired a new position in shares of Eaton in the 3rd quarter valued at about $35,000. DT Investment Partners LLC acquired a new position in shares of Eaton in the 3rd quarter valued at about $37,000. Finally, Hager Investment Management Services LLC acquired a new position in shares of Eaton in the 4th quarter valued at about $38,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Citigroup dropped their price objective on Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Evercore ISI downgraded Eaton from an “outperform” rating to an “inline” rating and boosted their price objective for the company from $333.00 to $389.00 in a research note on Wednesday, November 13th. Sanford C. Bernstein initiated coverage on Eaton in a report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price target on the stock. Melius lowered Eaton from a “buy” rating to a “hold” rating and set a $373.00 price target on the stock. in a report on Tuesday, January 28th. Finally, Bank of America increased their price target on Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $369.20.

Insiders Place Their Bets

In other news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was 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 $11,811,696. This trade represents a 4.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $3,559,800.00. Following the completion of the transaction, the director now directly owns 43,203 shares of the company’s stock, valued at $15,379,403.94. The trade was a 18.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.

Eaton Stock Performance

Shares of ETN opened at $315.04 on Thursday. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $124.50 billion, a price-to-earnings ratio of 33.16, a PEG ratio of 2.27 and a beta of 1.05. The stock has a 50 day moving average of $346.77 and a 200 day moving average of $331.28. Eaton Co. plc has a 12 month low of $255.65 and a 12 month high of $379.99.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, beating 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 quarter in the prior year, the business earned $2.55 earnings per share. As a group, sell-side analysts forecast that Eaton Co. plc will post 12 earnings per share for the current year.

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.