Eaton Co. plc (NYSE:ETN) Shares Sold by Symphony Financial Ltd. Co.

Symphony Financial Ltd. Co. trimmed its holdings in shares of Eaton Co. plc (NYSE:ETN) by 13.6% in the fourth quarter, Holdings Channel reports. The firm owned 1,278 shares of the industrial products company’s stock after selling 201 shares during the period. Symphony Financial Ltd. Co.’s holdings in Eaton were worth $457,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Wetzel Investment Advisors Inc. increased its holdings in Eaton by 0.9% in the 4th quarter. Wetzel Investment Advisors Inc. now owns 3,101 shares of the industrial products company’s stock valued at $1,029,000 after purchasing an additional 28 shares during the last quarter. Strategic Wealth Partners Ltd. grew its stake in shares of Eaton by 3.0% in the third quarter. Strategic Wealth Partners Ltd. now owns 1,027 shares of the industrial products company’s stock valued at $340,000 after buying an additional 30 shares in the last quarter. Fairfield Financial Advisors LTD raised its holdings in shares of Eaton by 16.2% in the 3rd quarter. Fairfield Financial Advisors LTD now owns 215 shares of the industrial products company’s stock valued at $71,000 after buying an additional 30 shares during the period. Westmount Partners LLC boosted its holdings in Eaton by 3.1% during the 4th quarter. Westmount Partners LLC now owns 985 shares of the industrial products company’s stock valued at $327,000 after acquiring an additional 30 shares during the period. Finally, Signal Advisors Wealth LLC grew its position in Eaton by 3.5% in the 4th quarter. Signal Advisors Wealth LLC now owns 896 shares of the industrial products company’s stock valued at $297,000 after acquiring an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling

In other news, insider Craig Arnold sold 61,569 shares of Eaton stock in a transaction dated 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 sale, the insider now owns 506,360 shares of the company’s stock, valued at $182,780,769.20. The trade was a 10.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 72,981 shares of company stock worth $26,318,917 in the last 90 days. Company insiders own 0.53% of the company’s stock.

Eaton Stock Performance

NYSE ETN opened at $326.32 on Friday. The company has a fifty day moving average of $349.23 and a two-hundred day moving average of $331.08. 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 Co. plc has a 1 year low of $245.65 and a 1 year high of $379.99. The company has a market capitalization of $128.96 billion, a PE ratio of 34.72, a P/E/G ratio of 2.21 and a beta of 1.06.

Eaton (NYSE:ETN) last released its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, topping the consensus estimate of $2.82 by $0.01. Eaton had a return on equity of 21.97% and a net margin of 15.32%. During the same quarter last year, the business earned $2.55 EPS. As a group, analysts expect that Eaton Co. plc will post 10.79 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently commented on ETN. Sanford C. Bernstein assumed coverage on shares of Eaton in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price objective for the company. Barclays raised 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. Melius cut Eaton from a “buy” rating to a “hold” rating and set a $373.00 price objective on the stock. in a research note on Tuesday. Royal Bank of Canada lifted their target price on Eaton from $374.00 to $392.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Finally, Wells Fargo & Company cut their price target on Eaton from $365.00 to $350.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Eaton presently has a consensus rating of “Moderate Buy” and an average price target of $369.30.

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.