Transform Wealth LLC Has $506,000 Stock Holdings in Eaton Co. plc (NYSE:ETN)

Transform Wealth LLC decreased its position in shares of Eaton Co. plc (NYSE:ETN) by 14.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,525 shares of the industrial products company’s stock after selling 255 shares during the period. Transform Wealth LLC’s holdings in Eaton were worth $506,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Groupama Asset Managment lifted its holdings in shares of Eaton by 83.2% during the 3rd quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock valued at $31,000 after buying an additional 4,298 shares during the last quarter. Horizon Bancorp Inc. IN raised its position in Eaton by 321.7% during the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 74 shares in the last quarter. Morse Asset Management Inc acquired a new stake in Eaton in the third quarter valued at approximately $33,000. West Financial Advisors LLC bought a new stake in Eaton in the third quarter worth $35,000. Finally, DT Investment Partners LLC bought a new stake in shares of Eaton during the 3rd quarter worth about $37,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Stock Up 3.2 %

NYSE ETN opened at $357.45 on Wednesday. Eaton Co. plc has a 1-year low of $239.17 and a 1-year 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. The stock’s 50 day moving average is $353.82 and its two-hundred day moving average is $330.17. The company has a market capitalization of $141.27 billion, a price-to-earnings ratio of 38.03, a PEG ratio of 2.40 and a beta of 1.06.

Eaton (NYSE:ETN) last announced 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. The firm had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The business’s revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the business posted $2.47 earnings per share. Equities analysts forecast that Eaton Co. plc will post 10.79 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Gregory R. Page sold 4,000 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the completion of the sale, the director now owns 51,422 shares in the company, valued at $17,241,796.60. The trade was a 7.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of Eaton 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 owns 31,200 shares of the company’s stock, valued at approximately $11,811,696. The trade was a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 76,981 shares of company stock worth $27,660,117 in the last quarter. 0.33% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Barclays boosted their price objective on shares of Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. 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 target price for the company. Evercore ISI downgraded Eaton from an “outperform” rating to an “inline” rating and raised their price target for the company from $333.00 to $389.00 in a research report on Wednesday, November 13th. Citigroup cut their price objective on Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Finally, JPMorgan Chase & Co. lowered their target price on Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $368.89.

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.