Centricity Wealth Management LLC Takes Position in Eaton Co. plc (NYSE:ETN)

Centricity Wealth Management LLC acquired a new position in shares of Eaton Co. plc (NYSE:ETN) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 584 shares of the industrial products company’s stock, valued at approximately $194,000.

Other large investors also recently added to or reduced their stakes in the company. Groupama Asset Managment raised its position in shares of Eaton by 83.2% during the 3rd quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 4,298 shares during the last quarter. Horizon Bancorp Inc. IN raised its holdings in shares of Eaton by 321.7% during the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 74 shares during the last quarter. Morse Asset Management Inc acquired a new position in shares of Eaton during the third quarter valued at approximately $33,000. Activest Wealth Management lifted its position in shares of Eaton by 621.4% in the fourth quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 87 shares in the last quarter. Finally, DT Investment Partners LLC acquired a new stake in shares of Eaton in the third quarter worth approximately $37,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Eaton

In other news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the business’s stock in a transaction dated 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 transaction of $3,559,800.00. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Company insiders own 0.53% of the company’s stock.

Eaton Trading Down 0.2 %

Shares of ETN stock opened at $308.95 on Friday. Eaton Co. plc has a 1-year low of $255.65 and a 1-year high of $379.99. The firm has a market cap of $122.10 billion, a PE ratio of 32.52, a price-to-earnings-growth ratio of 2.68 and a beta of 1.05. The company has a 50-day moving average of $333.15 and a two-hundred day moving average of $331.88. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96.

Eaton (NYSE:ETN) last posted its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share 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 in the prior year, the firm posted $2.55 earnings per share. On average, analysts predict that Eaton Co. plc will post 12.02 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Wells Fargo & Company reduced their price objective on Eaton from $350.00 to $335.00 and set an “equal weight” rating for the company in a research note on Monday, February 3rd. Evercore ISI reduced their target price on shares of Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a research report on Wednesday. Bank of America boosted their price target on shares of Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. UBS Group began coverage on shares of Eaton in a report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 price objective for the company. Finally, 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. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Eaton currently has an average rating of “Moderate Buy” and a consensus price target of $366.05.

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.