Truist Financial Corp Sells 32,545 Shares of Eaton Co. plc (NYSE:ETN)

Truist Financial Corp reduced its stake in shares of Eaton Co. plc (NYSE:ETN) by 5.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 551,235 shares of the industrial products company’s stock after selling 32,545 shares during the period. Truist Financial Corp’s holdings in Eaton were worth $182,938,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Creative Planning grew its position in Eaton by 2.7% during the third quarter. Creative Planning now owns 181,067 shares of the industrial products company’s stock worth $60,013,000 after buying an additional 4,705 shares in the last quarter. Stratos Wealth Partners LTD. boosted its holdings in Eaton by 3.7% during the third quarter. Stratos Wealth Partners LTD. now owns 27,587 shares of the industrial products company’s stock valued at $9,144,000 after purchasing an additional 990 shares in the last quarter. Moss Adams Wealth Advisors LLC boosted its holdings in Eaton by 11.8% during the third quarter. Moss Adams Wealth Advisors LLC now owns 776 shares of the industrial products company’s stock valued at $257,000 after purchasing an additional 82 shares in the last quarter. Capital Investment Advisors LLC boosted its holdings in Eaton by 3.0% during the third quarter. Capital Investment Advisors LLC now owns 5,440 shares of the industrial products company’s stock valued at $1,803,000 after purchasing an additional 158 shares in the last quarter. Finally, Commonwealth Equity Services LLC boosted its holdings in Eaton by 21.2% during the third quarter. Commonwealth Equity Services LLC now owns 252,312 shares of the industrial products company’s stock valued at $83,626,000 after purchasing an additional 44,052 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ETN has been the topic of a number of recent research reports. Royal Bank of Canada decreased their price objective on Eaton from $407.00 to $405.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Barclays lifted their target price on shares of Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Bank of America lifted their target price 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. Melius Research reiterated a “hold” rating and issued a $373.00 target price on shares of Eaton in a research note on Tuesday, January 28th. Finally, UBS Group initiated coverage on shares of Eaton in a research note on Wednesday, November 13th. They issued a “buy” rating and a $431.00 target price for the company. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $369.20.

Eaton Price Performance

Shares of ETN stock opened at $309.21 on Monday. Eaton Co. plc has a 12-month low of $255.65 and a 12-month high of $379.99. The firm has a market capitalization of $122.20 billion, a price-to-earnings ratio of 32.55, a price-to-earnings-growth ratio of 2.37 and a beta of 1.05. 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 firm has a fifty day moving average of $337.21 and a 200-day moving average of $331.89.

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, beating the consensus estimate 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 period last year, the business posted $2.55 earnings per share. On average, equities research analysts forecast that Eaton Co. plc will post 12.04 earnings per share for the current year.

Insider Activity

In related news, Director Gregory R. Page sold 10,000 shares of the company’s stock in a transaction on Friday, December 13th. The shares were 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 approximately $15,379,403.94. This represents a 18.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the company’s stock in a transaction on Monday, November 25th. The stock was 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 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. 0.53% of the stock is owned by company insiders.

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.