Eaton Co. plc (NYSE:ETN) Shares Sold by Wells Trecaso Financial Group LLC

Wells Trecaso Financial Group LLC cut its position in Eaton Co. plc (NYSE:ETN) by 2.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 51,014 shares of the industrial products company’s stock after selling 1,141 shares during the quarter. Eaton accounts for 5.5% of Wells Trecaso Financial Group LLC’s portfolio, making the stock its 3rd largest position. Wells Trecaso Financial Group LLC’s holdings in Eaton were worth $16,930,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in ETN. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Eaton during the second quarter worth about $338,000. AQR Capital Management LLC increased its holdings in Eaton by 63.6% during the 2nd quarter. AQR Capital Management LLC now owns 509,906 shares of the industrial products company’s stock worth $159,881,000 after purchasing an additional 198,180 shares during the last quarter. APG Asset Management N.V. raised its position in shares of Eaton by 33.7% in the 2nd quarter. APG Asset Management N.V. now owns 199,553 shares of the industrial products company’s stock valued at $58,381,000 after purchasing an additional 50,340 shares in the last quarter. Electron Capital Partners LLC grew its position in shares of Eaton by 8,348.9% during the second quarter. Electron Capital Partners LLC now owns 446,524 shares of the industrial products company’s stock worth $140,008,000 after buying an additional 441,239 shares in the last quarter. Finally, DE Burlo Group Inc. increased its stake in shares of Eaton by 74.6% in the second quarter. DE Burlo Group Inc. now owns 62,740 shares of the industrial products company’s stock worth $19,672,000 after buying an additional 26,800 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Craig Arnold sold 61,569 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total value of $22,224,561.93. Following the completion of the sale, the insider now directly owns 506,360 shares in the company, valued at approximately $182,780,769.20. This represents a 10.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 31,200 shares of the company’s stock, valued at $11,811,696. This represents a 4.33 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 76,981 shares of company stock worth $27,660,117. 0.53% of the stock is currently owned by company insiders.

Eaton Stock Performance

Shares of ETN opened at $369.58 on Friday. Eaton Co. plc has a 12-month low of $241.45 and a 12-month high of $379.99. The stock has a market capitalization of $146.06 billion, a P/E ratio of 39.32, a P/E/G ratio of 2.57 and a beta of 1.06. The firm’s 50 day moving average is $353.61 and its 200-day moving average is $330.74. 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 (NYSE:ETN) last released its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share 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 analyst estimates of $6.37 billion. During the same quarter last year, the company posted $2.47 EPS. Eaton’s revenue for the quarter was up 7.9% on a year-over-year basis. Equities research analysts anticipate that Eaton Co. plc will post 10.79 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Bank of America increased their price objective on shares of Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Royal Bank of Canada boosted their price objective on Eaton from $374.00 to $392.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Wells Fargo & Company reduced their target price on Eaton from $365.00 to $350.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. JPMorgan Chase & Co. lowered their price target on Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Finally, Mizuho raised their price objective on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Four equities 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.com, Eaton presently has an average rating of “Moderate Buy” and a consensus target price of $368.89.

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.