Eaton Co. plc (NYSE:ETN) Shares Sold by Magnolia Capital Advisors LLC

Magnolia Capital Advisors LLC cut its holdings in Eaton Co. plc (NYSE:ETN) by 4.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,964 shares of the industrial products company’s stock after selling 189 shares during the quarter. Magnolia Capital Advisors LLC’s holdings in Eaton were worth $1,316,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Wetzel Investment Advisors Inc. increased its holdings in shares of 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 period. Strategic Wealth Partners Ltd. raised 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 purchasing an additional 30 shares in the last quarter. Fairfield Financial Advisors LTD raised its stake in Eaton by 16.2% during the third quarter. Fairfield Financial Advisors LTD now owns 215 shares of the industrial products company’s stock worth $71,000 after acquiring an additional 30 shares in the last quarter. Westmount Partners LLC increased its stake in shares of Eaton by 3.1% in the fourth quarter. Westmount Partners LLC now owns 985 shares of the industrial products company’s stock valued at $327,000 after buying an additional 30 shares in the last quarter. Finally, Signal Advisors Wealth LLC boosted its holdings in Eaton by 3.5% in the fourth 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 during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Stock Down 0.2 %

ETN opened at $326.32 on Monday. Eaton Co. plc has a twelve month low of $245.65 and a twelve month high of $379.99. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. The company has a 50-day moving average price of $349.23 and a 200 day moving average price of $331.07. The company has a market cap of $128.96 billion, a PE ratio of 34.35, a price-to-earnings-growth ratio of 2.27 and a beta of 1.05.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.82 by $0.01. Eaton had a net margin of 15.25% and a return on equity of 22.62%. During the same quarter in the prior year, the company posted $2.55 earnings per share. Sell-side analysts expect that Eaton Co. plc will post 12 earnings per share for the current fiscal year.

Insider Activity

In other Eaton news, insider Craig Arnold sold 61,569 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 506,360 shares of the company’s stock, valued at $182,780,769.20. This trade represents a 10.84 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of Eaton stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $378.58, for a total transaction 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 disclosure for this sale can be found here. Insiders have sold a total of 72,981 shares of company stock valued at $26,318,917 over the last quarter. Corporate insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on ETN shares. Jefferies Financial Group raised their target price on Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Barclays upped their target price on Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Royal Bank of Canada upped their target price on Eaton from $374.00 to $392.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Melius cut Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price for the company. in a research note on Tuesday, January 28th. Finally, UBS Group assumed coverage on Eaton in a report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 price target on the stock. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Eaton currently has an average rating of “Moderate Buy” and a consensus price target of $369.30.

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.