Deseret Mutual Benefit Administrators Cuts Position in Eaton Co. plc (NYSE:ETN)

Deseret Mutual Benefit Administrators trimmed its position in Eaton Co. plc (NYSE:ETN) by 10.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 311 shares of the industrial products company’s stock after selling 35 shares during the quarter. Deseret Mutual Benefit Administrators’ holdings in Eaton were worth $103,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Hennion & Walsh Asset Management Inc. grew its stake in shares of Eaton by 11.0% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 3,351 shares of the industrial products company’s stock valued at $1,111,000 after buying an additional 332 shares in the last quarter. DT Investment Partners LLC acquired a new stake in shares of Eaton in the third quarter valued at about $37,000. Mount Yale Investment Advisors LLC grew its stake in shares of Eaton by 63.4% in the third quarter. Mount Yale Investment Advisors LLC now owns 2,953 shares of the industrial products company’s stock valued at $979,000 after buying an additional 1,146 shares in the last quarter. Silver Oak Securities Incorporated grew its stake in Eaton by 30.8% during the 3rd quarter. Silver Oak Securities Incorporated now owns 1,360 shares of the industrial products company’s stock valued at $451,000 after purchasing an additional 320 shares in the last quarter. Finally, Trueblood Wealth Management LLC grew its stake in Eaton by 15.0% during the 3rd quarter. Trueblood Wealth Management LLC now owns 1,524 shares of the industrial products company’s stock valued at $505,000 after purchasing an additional 199 shares in the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Eaton news, insider Ernest W. Marshall, Jr. sold 1,412 shares of Eaton 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 sale, the insider now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gregory R. Page sold 10,000 shares of Eaton 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 sale, the director now directly owns 43,203 shares in the company, valued at $15,379,403.94. The trade was 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.

Analyst Ratings Changes

ETN has been the subject of a number of recent analyst reports. Evercore ISI lowered their price objective on Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a research note on Wednesday. Wells Fargo & Company restated an “equal weight” rating on shares of Eaton in a research note on Thursday, February 13th. Melius lowered Eaton from a “buy” rating to a “hold” rating and set a $373.00 price objective for the company. in a research note on Tuesday, January 28th. Jefferies Financial Group raised their price objective on Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Finally, Barclays raised their price objective on Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $366.05.

Eaton Trading Down 3.8 %

Shares of NYSE ETN opened at $297.11 on Friday. The company has a market cap of $117.42 billion, a price-to-earnings ratio of 31.27, a price-to-earnings-growth ratio of 2.64 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 current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. The stock’s 50 day simple moving average is $331.97 and its 200 day simple moving average is $332.43.

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, topping 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 period in the prior year, the business posted $2.55 EPS. Equities research analysts expect that Eaton Co. plc will post 12.02 EPS for the current year.

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.