Northcape Wealth Management LLC Sells 309 Shares of Eaton Co. plc (NYSE:ETN)

Northcape Wealth Management LLC reduced its position in shares of Eaton Co. plc (NYSE:ETN) by 2.1% in the fourth quarter, Holdings Channel reports. The firm owned 14,293 shares of the industrial products company’s stock after selling 309 shares during the quarter. Eaton accounts for 1.5% of Northcape Wealth Management LLC’s holdings, making the stock its 16th biggest holding. Northcape Wealth Management LLC’s holdings in Eaton were worth $4,744,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Bank of Jackson Hole Trust bought a new stake in Eaton in the 4th quarter worth approximately $50,000. Callahan Advisors LLC lifted its stake in shares of Eaton by 2.9% in the 4th quarter. Callahan Advisors LLC now owns 19,459 shares of the industrial products company’s stock worth $6,458,000 after purchasing an additional 551 shares during the period. Davidson Investment Advisors boosted its holdings in shares of Eaton by 2.0% in the fourth quarter. Davidson Investment Advisors now owns 53,474 shares of the industrial products company’s stock worth $17,746,000 after buying an additional 1,064 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund grew its position in Eaton by 42.6% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 16,803 shares of the industrial products company’s stock valued at $5,576,000 after buying an additional 5,016 shares during the period. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors increased its holdings in Eaton by 11.0% during the fourth quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 2,543 shares of the industrial products company’s stock valued at $844,000 after buying an additional 252 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Eaton

In other Eaton news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $378.58, for a total value of $534,554.96. Following the completion of the sale, the insider now directly owns 31,200 shares of the company’s stock, valued at $11,811,696. The trade was a 4.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gregory R. Page sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the transaction, the director now directly 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 disclosure for this sale can be found here. 0.53% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on ETN shares. Royal Bank of Canada cut their price objective on shares of Eaton from $407.00 to $405.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. UBS Group assumed coverage on shares of Eaton in a research report on Wednesday, November 13th. They set a “buy” rating and a $431.00 price objective on the stock. Melius lowered Eaton from a “buy” rating to a “hold” rating and set a $373.00 price objective for the company. in a research report on Tuesday, January 28th. Wells Fargo & Company decreased their target price on Eaton from $350.00 to $335.00 and set an “equal weight” rating on the stock in a research report on Monday, February 3rd. Finally, Sanford C. Bernstein started coverage on Eaton in a report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 price target for the company. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $369.20.

Eaton Price Performance

ETN stock opened at $313.04 on Wednesday. The stock has a market cap of $123.71 billion, a PE ratio of 32.95, a P/E/G ratio of 2.37 and a beta of 1.05. Eaton Co. plc has a 12 month low of $255.65 and a 12 month high of $379.99. The company has a 50-day moving average price of $335.20 and a 200 day moving average price of $332.20. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46.

Eaton (NYSE:ETN) last announced its 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 return on equity of 22.62% and a net margin of 15.25%. During the same quarter last year, the firm earned $2.55 earnings per share. Equities research analysts anticipate that Eaton Co. plc will post 12.04 earnings per share for the current year.

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.