Daymark Wealth Partners LLC Sells 367 Shares of Eaton Co. plc (NYSE:ETN)

Daymark Wealth Partners LLC reduced its holdings in shares of Eaton Co. plc (NYSE:ETN) by 1.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 19,731 shares of the industrial products company’s stock after selling 367 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Eaton were worth $6,548,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of ETN. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Eaton by 253.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,273,685 shares of the industrial products company’s stock worth $753,590,000 after buying an additional 1,629,856 shares in the last quarter. International Assets Investment Management LLC grew its position in Eaton by 27,075.5% during the 3rd quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company’s stock worth $355,959,000 after acquiring an additional 1,070,024 shares during the last quarter. Janus Henderson Group PLC increased its holdings in Eaton by 32.8% in the 3rd quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company’s stock worth $801,798,000 after purchasing an additional 597,700 shares in the last quarter. Electron Capital Partners LLC raised its position in Eaton by 8,348.9% in the second quarter. Electron Capital Partners LLC now owns 446,524 shares of the industrial products company’s stock valued at $140,008,000 after purchasing an additional 441,239 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Eaton during the third quarter valued at about $137,794,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Eaton Trading Up 3.2 %

NYSE:ETN opened at $357.45 on Wednesday. Eaton Co. plc has a one year low of $239.17 and a one year high of $379.99. The company has a market cap of $141.27 billion, a PE ratio of 38.03, a PEG ratio of 2.40 and a beta of 1.06. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00. The firm has a 50-day moving average of $353.58 and a 200-day moving average of $330.45.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, topping the consensus estimate of $2.80 by $0.04. The firm had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The company’s quarterly 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. As a group, equities research analysts expect that Eaton Co. plc will post 10.79 EPS for the current fiscal year.

Insider Buying and Selling at Eaton

In related news, insider Craig Arnold sold 61,569 shares of Eaton stock in a transaction that occurred on 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 approximately $182,780,769.20. The trade was a 10.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gregory R. Page sold 4,000 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $335.30, for a total value of $1,341,200.00. Following the completion of the sale, the director now owns 51,422 shares in the company, valued at approximately $17,241,796.60. The trade was a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 76,981 shares of company stock worth $27,660,117. Insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Wells Fargo & Company lowered their price objective on Eaton from $365.00 to $350.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Sanford C. Bernstein initiated coverage on Eaton in a report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 target price on the stock. Mizuho raised their price objective on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. decreased their price objective on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research report on Wednesday, January 15th. Finally, UBS Group assumed coverage on shares of Eaton in a report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 target price on the stock. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Eaton presently has a consensus rating of “Moderate Buy” and a consensus target price of $368.89.

Eaton 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.