RNC Capital Management LLC Decreases Holdings in Eaton Co. plc (NYSE:ETN)

RNC Capital Management LLC lowered its position in shares of Eaton Co. plc (NYSE:ETN) by 0.1% during the fourth quarter, Holdings Channel reports. The firm owned 37,831 shares of the industrial products company’s stock after selling 50 shares during the quarter. RNC Capital Management LLC’s holdings in Eaton were worth $12,555,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in ETN. Brookstone Capital Management increased its position in shares of Eaton by 6.7% during the third quarter. Brookstone Capital Management now owns 2,766 shares of the industrial products company’s stock worth $917,000 after purchasing an additional 173 shares in the last quarter. Hoxton Planning & Management LLC acquired a new stake in shares of Eaton during the third quarter worth about $270,000. Strategic Wealth Partners Ltd. increased its position in shares of Eaton by 3.0% during the third quarter. Strategic Wealth Partners Ltd. now owns 1,027 shares of the industrial products company’s stock worth $340,000 after purchasing an additional 30 shares in the last quarter. Sovereign Financial Group Inc. increased its position in shares of Eaton by 9.1% during the third quarter. Sovereign Financial Group Inc. now owns 1,203 shares of the industrial products company’s stock worth $399,000 after purchasing an additional 100 shares in the last quarter. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors increased its position in Eaton by 61.1% in the 3rd quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 2,291 shares of the industrial products company’s stock valued at $759,000 after acquiring an additional 869 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Transactions at Eaton

In other Eaton news, Director Gregory R. Page sold 10,000 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 43,203 shares in the company, valued at approximately $15,379,403.94. This trade represents a 18.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now owns 31,200 shares in the company, valued at $11,811,696. The trade was a 4.33 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on ETN shares. Melius Research restated a “hold” rating and issued a $373.00 price target on shares of Eaton in a research report on Tuesday, January 28th. Sanford C. Bernstein started coverage on Eaton in a research report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price target on the stock. Bank of America boosted their price target on Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Barclays boosted their target price on Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Finally, Evercore ISI cut Eaton from an “outperform” rating to an “inline” rating and boosted their target price for the stock from $333.00 to $389.00 in a research report on Wednesday, November 13th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Eaton currently has a consensus rating of “Moderate Buy” and a consensus price target of $369.20.

Eaton Price Performance

ETN stock opened at $315.32 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. The stock’s 50 day moving average price is $345.63 and its 200 day moving average price is $331.17. The firm has a market cap of $124.61 billion, a P/E ratio of 33.19, a PEG ratio of 2.27 and a beta of 1.05. Eaton Co. plc has a 1 year low of $255.65 and a 1 year high of $379.99.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, beating 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 period in the previous year, the company posted $2.55 earnings per share. On average, sell-side analysts expect that Eaton Co. plc will post 12 earnings per share for the current fiscal year.

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.